TRIESTE – Hamburger Hafen und Logistik AG – which in the port of Trieste operates the Logistics Platform through HHLA PLT Italy – closed 2025 with rising operating indicators in an unstable international environment. Despite a landscape shaped by geopolitical tensions, uncertainty over global trade and economic pressure, Germany’s HHLA posted growth in both volumes and financial results, confirming the preliminary figures already released in February. Group revenue rose 9.9% to €1.756 billion, while EBIT increased 19.5% to €160.5 million. More subdued was net profit, which came in at €9.8 million, weighed down by extraordinary tax effects linked in particular to the write-down of deferred tax assets.
On the operating side, container throughput at the group’s seaport terminals rose 5.4% to 6.295 million TEU. International terminals recorded a marked increase, with volumes up 19.2% to 339 thousand TEU. The result was driven both by the development of HHLA PLT Italy in Trieste and by the partial recovery in activity at the Odessa terminal from the second half of 2024, after the halt in the first months of the previous year. By contrast, volumes at the multifunctional terminal in Estonia edged down. In the container segment, revenue rose 9% to €843.2 million, supported by higher volumes and an improved modal mix. EBIT, however, fell 6.4% to €73.9 million, affected by higher labour costs linked to contract renewals and greater use of operating resources. The EBIT margin narrowed to 8.7%.
Stronger performance came from the intermodal segment, where volumes rose 10.9% to 1.982 million TEU. Rail traffic increased by 11.2%, driven by links with North European ports and markets in the German-speaking area, while road transport rose 8.7%. Segment revenue increased 12% to €797 million and EBIT climbed 23.9% to €103.7 million, with a margin of 13%. The main positive factor was higher volumes, while operational bottlenecks tied to infrastructure works and saturation along the main North European logistics corridors remained an issue.
In the Port Logistics subgroup, which represents the listed core business, revenue rose 10.1% to €1.718 billion and EBIT increased 22.8% to €144.7 million. The trend reflects higher volumes in both handling and transport, albeit with a slowdown in the second part of the year due to economic uncertainty and disruptions in supply chains, as well as upgrade and automation works at Hamburg terminals. For 2026, the group expects a further increase in container volumes and sustained growth in intermodal traffic. At consolidated level, HHLA forecasts higher revenue and EBIT in the range of €175 million to €195 million. Investments are expected at between €430 million and €480 million, with the main share earmarked for the Port Logistics segment, focusing on automation, operating efficiency and infrastructure development along the European logistics chain.
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