HHLA off to a rocky start in 2024, last year’s trends continue
HHLA’s intermodal services experienced a “significant decrease in volumes” in the first quarter of 2024. Rail transport fell by 3,2 per cent, while container transport decreased by 5,5 per cent compared to the same period last year. The EBITDA in HHLA’s intermodal segment also dropped significantly in these three months, with a 21,7 per cent decrease compared to Q1 2023.
The lower rail figures for HHLA’s intermodal segment in the first three months of 2024 mostly concerned traffic to and from the port of Koper and in Poland. Road transport also dropped by 16,8 per cent. The higher drop in road volumes also factored in increasing the total share of rail when it comes to intermodal services, which went from 83,4 per cent in Q1 2023 to 85,4 per cent in Q1 2024.
The decrease in figures does not only concern HHLA’s intermodal segment. In general, the company’s EBITDA in the first quarter of 2024 fell by 8.4 per cent, from 67.2 to 61.6 million euros. These figures follow a trend that started already in 2023 for HHLA and reflects the current and recent state of the market and the economy globally. The addition of the Red Sea Crisis to the problems that already existed in 2023 only made an already difficult situation even more complicated.
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