Annual Financial Statements of the Parent Company

The annual financial statement and combined management report of Hamburger Hafen und Logistik Aktiengesellschaft, Hamburg, for the 2015 financial year have been prepared according to the provisions of German commercial law and have been endorsed with an unrestricted auditor’s certificate by the auditors of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft.

Income Statement

in €

 

2015

 

2014

Revenue

 

121,225,080.51

 

135,830,235.84

Increase or decrease in work in progress

 

- 457,740.37

 

- 321,189.60

Own work capitalised

 

465,143.78

 

530,383.50

Other operating income

 

17,089,859.90

 

3,435,167.47

of which income from translation differences

 

4,163.59

 

2,465.85

Cost of materials

 

3,274,447.17

 

5,438,782.46

Expenses for raw materials, consumables, supplies and purchased merchandise

 

2,770,694.52

 

4,188,591.79

Expenses for purchased services

 

503,752.65

 

1,250,190.67

Personnel expenses

 

111,346,012.60

 

102,947,141.59

Wages and salaries

 

93,374,437.16

 

91,590,777.74

Social security contributions and expenses for pension and similar benefits

 

17,971,575.44

 

11,356,363.85

of which for pensions

 

2,654,290.20

 

- 3,628,034.24

Depreciation and amortisation on intangible fixed assets and property, plant and equipment

 

4,052,138.27

 

6,175,958.47

Other operating expenses

 

29,660,333.18

 

34,337,418.57

of which expenses from translation differences

 

6,005.18

 

2,772.33

Income from profit transfer agreements

 

66,553,031.57

 

109,538,656.92

Income from equity participations

 

23,470,713.24

 

17,805,193.89

of which from affiliated companies

 

20,409,102.24

 

14,936,284.89

Other interest and similar income

 

4,391,440.97

 

5,482,839.04

of which from affiliated companies

 

3,790,312.30

 

3,971,577.90

Expenses from assumed losses

 

8,367,801.39

 

16,558,290.84

Interest and similar expenses

 

40,429,816.33

 

28,749,481.92

of which to affiliated companies

 

2,221,823.58

 

3,104,064.42

of which from accrued interest

 

37,468,292.92

 

24,797,121.54

Result from ordinary income

 

35,606,980.66

 

78,094,213.21

Taxes on income

 

6,161,198.82

 

27,639,169.89

of which income from the change unrecognized taxes

 

7,767,087.30

 

1,176,116.38

Other taxes

 

333,146.25

 

430,122.83

Net profit for the year

 

29,112,635.59

 

50,024,920.49

Profit carried forward from the previous year

 

233,971,891.95

 

218,849,571.76

Dividend distributed

 

40,482,143.68

 

34,902,600.30

Unappropriated profit

 

222,602,383.86

 

233,971,891.95

Balance Sheet as of 31 December 2015

in €

 

31.12.2015

 

31.12.2014

ASSETS

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

Purchased software

 

2,371,430.30

 

2,440,196.55

Payments in advance and software in development

 

1,192,368.55

 

0.00

 

 

3,563,798.85

 

2,440,196.55

Property, plant and equipment

 

 

 

 

Land, equivalent land rights and buildings, including buildings on leased land

 

4,794,148.40

 

99,811,962.77

Technical equipment and machinery

 

90,630.47

 

2,059,738.30

Other plant, operating and office equipment

 

2,047,438.18

 

2,303,078.18

Payments made on account and plant under construction

 

121,979.86

 

386,271.16

 

 

7,054,196.91

 

104,561,050.41

Financial assets

 

 

 

 

Interests in affiliated companies

 

367,327,229.27

 

308,899,084.75

Loans to affiliated companies

 

11,500,000.00

 

0.00

Equity investments

 

7,604,179.45

 

7,558,163.18

Non-current securities

 

943,085.62

 

939,049.76

 

 

387,374,494.34

 

317,396,297.69

Non-current assets

 

397,992,490.10

 

424,397,544.65

Inventories

 

 

 

 

Raw materials, consumables and supplies

 

154,691.46

 

174,551.06

Work in progress

 

1,252,719.19

 

1,710,459.56

 

 

1,407,410.65

 

1,885,010.62

Receivables and other assets

 

 

 

 

Trade receivables

 

867,842.20

 

915,638.24

Receivables from the Free and Hanseatic City of Hamburg

 

12,656.13

 

381,876.18

Receivables from the HGV Hamburger Gesellschaft
für Vermögens- und Beteiligungsmanagement mbH, Hamburg

 

43,906,458.90

 

0.00

Receivables from affiliated companies

 

378,617,204.52

 

380,090,183.12

Receivables from investee companies

 

4,720,951.01

 

6,244,124.65

Other assets

 

11,351,621.71

 

4,913,789.49

 

 

439,476,734.47

 

392,545,611.68

Cash and cash equivalents

 

164,202,688.63

 

226,533,092.78

Current assets

 

605,086,833.75

 

620,963,715.08

Accruals and deferrals

 

739,799.56

 

1,938,277.36

Deferred tax assets

 

35,478,457.10

 

28,422,565.69

Balance sheet total

 

1,039,297,580.51

 

1,075,722,102.78

 

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

Subscribed capital

 

 

 

 

Port Logistics subgroup

 

70,048,834.00

 

70,048,834.00

Real Estate subgroup

 

2,704,500.00

 

2,704,500.00

 

 

72,753,334.00

 

72,753,334.00

Capital reserve

 

 

 

 

Port Logistics subgroup

 

136,771,470.63

 

136,771,470.63

Real Estate subgroup

 

506,206.26

 

506,206.26

 

 

137,277,676.89

 

137,277,676.89

Statutory reserve

 

 

 

 

Port Logistics subgroup

 

5,125,000.00

 

5,125,000.00

Real Estate subgroup

 

205,000.00

 

205,000.00

 

 

5,330,000.00

 

5,330,000.00

Other earnings reserves

 

 

 

 

Port Logistics subgroup

 

56,105,325.36

 

56,105,325.36

Real Estate subgroup

 

1,322,353.86

 

1,322,353.86

 

 

57,427,679.22

 

57,427,679.22

Retained earnings

 

62,757,679.22

 

62,757,679.22

Unappropriated profit

 

 

 

 

Port Logistics subgroup

 

199,044,818.51

 

212,936,837.97

Real Estate subgroup

 

23,557,565.35

 

21,035,053.98

 

 

222,602,383.86

 

233,971,891.95

Equity

 

495,391,073.97

 

506,760,582.06

Provisions

 

 

 

 

Provisions for pensions and similar obligations

 

313,095,443.46

 

293,516,486.26

Tax provisions

 

33,620.28

 

3,811,826.74

Other provisions

 

22,244,010.29

 

28,354,002.39

 

 

335,373,074.03

 

325,682,315.39

Liabilities

 

 

 

 

Liabilities from bank loans

 

76,237,999.73

 

27,542,962.00

Payments on account

 

1,611,568.19

 

2,111,397.00

Trade Liabilities

 

1,266,417.73

 

2,831,306.67

Liabilities towards the Free and Hanseatic City of Hamburg

 

5,167.63

 

5,173.72

Liabilities towards HGV Hamburger Gesellschaft für
Vermögens- und Beteiligungsmanagement mbH, Hamburg

 

0.00

 

41,870,502.20

Liabilities towards affiliated companies

 

107,621,393.32

 

151,813,497.44

Liabilities towards investee companies

 

3,746,352.30

 

2,846,975.18

Other liabilities

 

13,516,189.42

 

8,677,072.52

of which from taxes

 

3,536,812.32

 

4,834,565.15

of which for social security

 

917,536.31

 

1,179,760.99

 

 

204,005,088.32

 

237,698,886.73

Accruals and deferrals

 

0.00

 

340,778.52

Deferred tax liabilities

 

4,528,344.19

 

5,239,540.08

Balance sheet total

 

1,039,297,580.51

 

1,075,722,102.78