The Annual General Meeting of Hamburger Hafen und Logistik AG (HHLA) approved all proposed resolutions today. This includes the decision to distribute a dividend of € 0.08 per class A share.

In her speech, HHLA’s CEO, Angela Titzrath, looked back at a challenging 2023 financial year. The ongoing war in Ukraine, geopolitical tensions, high inflation and interest rate hikes had an impact on the economy and continued to dampen the recovery from the pandemic, which was reflected in lower figures for container handling and container transport for HHLA. In this context, HHLA closed the financial year with revenue of € 1,446.8 million and a Group operating result (EBIT) of € 109.4 million.

Angela Titzrath, CEO of HHLA: “HHLA continues to operate in a difficult market environment. Over the short and medium term, we will have to continue to expect and navigate a volatile environment in global logistics. It’s a new normal to which HHLA has adapted. We continue to pursue our strategy to make HHLA more connected, digital and sustainable in the future. To do so, we will continue to invest in our terminals, our European network and in additional innovative logistics solutions.”

The Annual General Meeting approved the proposal made by the Executive Board and Supervisory Board to pay out a cash dividend of € 0.08 per publicly listed class A share. A total of € 5.8 million will thus be distributed to the shareholders of the Port Logistics subgroup. The payout ratio amounts to 67 percent, putting it at the upper end of the target range of 50 to 70 percent of the net profit for the year after minority interests. The Annual General Meeting resolved to distribute € 2.20 per class S share for the unlisted Real Estate subgroup. All class S shares are held by the Free and Hanseatic City of Hamburg. HHLA is therefore distributing a combined total of € 11.8 million to the shareholders of the two subgroups for the 2023 financial year.

The detailed voting results of the Annual General Meeting, the speech by the CEO, Angela Titzrath, and the accompanying presentation are available on HHLA’s website in the Investor Relations section under “Annual General Meeting”: www.hhla.de/en/annual-general-meeting.

Source: hhla