TRIESTE – HHLA closed the first nine months of 2025 with rising revenue and margins, despite a context marked by geopolitical tensions, uncertainty in US trade and broader macroeconomic pressures.
The Hamburg-based group – which operates Trieste’s Logistics Platform through HHLA Plt Italy – posted revenue of €1.33 billion, up 12.5%, and operating profit (EBIT) up 25.7% to €117.1 million. Profit after tax reached €34.9 million.
According to CEO Jeroen Eijsink, increasing volumes – both at terminals and in transport activities – supported the company’s performance during a still challenging phase for the sector.
In the container segment, total traffic at HHLA terminals grew by 6.7%, reaching 4.79 million teu. Hamburg terminals handled 4.55 million teu (+6%). Volumes declined from North America and the Middle East, while flows from the Far East – mainly China – as well as South America and Africa increased. Feeder traffic also rose strongly, especially with Poland and German ports, while links with Estonia and Latvia declined. International terminals also saw growth, up 23.1% to 250,000 teu, supported in part by the resumption of maritime operations in Odessa from the third quarter of 2024.
Container segment revenue climbed to €641.8 million (+11%), with EBIT at €60.4 million (+18.3%) and an operating margin of 9.4%.
In the intermodal segment, transport volumes rose by 13.6%, reaching 1.50 million teu. Rail traffic increased to 1.30 million teu (+13.7%), driven by flows with North Sea and Adriatic ports. Road transport also grew (+13.2%). Segment revenue reached €604.1 million (+15.8%), with EBIT at €76.2 million (+21.5%).
On the outlook, the company revised its 2025 guidance due to global uncertainty and ongoing modernisation and automation works at Hamburg terminals. The Port Logistics subgroup now expects a significant increase in container volumes and strong growth in transport, while EBIT is forecast at €145–160 million (down from a previous €180–200 million). At group level, revenue is expected to grow significantly, with EBIT between €160 and €175 million, compared with the earlier estimate of €195–215 million.
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