Annual Financial Statements of Hamburger Hafen und Logistik Aktiengesellschaft (HHLA)

The Annual Financial Statements and Combined Management Report of Hamburger Hafen und Logistik Aktiengesellschaft, Hamburg, for the 2016 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 PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft.

Income Statement

for the period from 1. January to 31. December 2016

in €

 

2016

 

2015

Revenue

 

157,858,227.42

 

121,225,080.51

Increase or decrease in work in progress

 

- 582,546.35

 

- 457,740.37

Own work capitalised

 

682,321.59

 

465,143.78

Other operating income

 

7,030,996.79

 

17,089,859.90

of which income from translation differences

 

150,409.49

 

4,163.59

Cost of materials

 

8,000,778.36

 

3,274,447.17

Expenses for raw materials, consumables, supplies and purchased merchandise

 

2,455,967.28

 

2,770,694.52

Expenses for purchased services

 

5,544,811.08

 

503,752.65

Personnel expenses

 

113,545,257.69

 

111,346,012.60

Wages and salaries

 

97,032,971.37

 

93,374,437.16

Social security contributions and expenses for pension and similar benefits

 

16,512,286.32

 

17,971,575.44

of which for pensions

 

540,212.01

 

2,654,290.20

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

 

3,078,660.75

 

4,052,138.27

Other operating expenses

 

61,491,974.77

 

29,660,333.18

of which expenses from translation differences

 

79,981.76

 

6,005.18

Income from profit transfer agreements

 

78,629,889.20

 

66,553,031.57

Income from equity participations

 

36,161,488.68

 

23,470,713.24

of which from affiliated companies

 

33,553,193.95

 

20,409,102.24

Other interest and similar income

 

3,930,739.39

 

4,391,440.97

of which from affiliated companies

 

3,727,975.67

 

3,790,312.30

Expenses from assumed losses

 

20,612,301.49

 

8,367,801.39

Interest and similar expenses

 

10,831,094.41

 

40,429,816.33

of which to affiliated companies

 

0.00

 

2,221,823.58

of which from accrued interest

 

9,158,463.48

 

37,468,292.92

Taxes on income

 

18,394,143.09

 

6,161,198.82

of which income from the change unrecognized taxes

 

3,693,661.45

 

7,767,087.30

Profit after tax

 

47,756,906.16

 

29,445,781.84

Other taxes

 

171,589.67

 

333,146.25

Net profit for the year

 

47,585,316.49

 

29,112,635.59

Profit carried forward from the previous year

 

222,602,383.86

 

233,971,891.95

Dividend distributed

 

46,061,687.06

 

40,482,143.68

Unappropriated profit

 

224,126,013.29

 

222,602,383.86

Balance Sheet as of 31 December 2016

in €

 

31.12.2016

 

31.12.2015

ASSETS

 

 

 

 

 

 

 

 

 

Intangible assets

 

 

 

 

Internally generated industrial and similar rights and values

 

1,185,559.91

 

0.00

Purchased software

 

2,120,960.28

 

2,371,430.30

Assets in development

 

6,497,245.41

 

1,192,368.55

Payments in advance

 

74,160.00

 

0.00

 

 

9,877,925.60

 

3,563,798.85

Property, plant and equipment

 

 

 

 

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

 

3,893,662.05

 

4,794,148.40

Technical equipment and machinery

 

8,621.10

 

90,630.47

Other plant, operating and office equipment

 

2,103,866.46

 

2,047,438.18

Payments made on account and plant under construction

 

1,833,912.10

 

121,979.86

 

 

7,840,061.71

 

7,054,196.91

Financial assets

 

 

 

 

Interests in affiliated companies

 

367,696,955.51

 

367,327,229.27

Loans to affiliated companies

 

10,500,000.00

 

11,500,000.00

Equity investments

 

7,604,179.45

 

7,604,179.45

Non-current securities

 

947,277.94

 

943,085.62

 

 

386,748,412.90

 

387,374,494.34

Non-current assets

 

404,466,400.21

 

397,992,490.10

Inventories

 

 

 

 

Raw materials, consumables and supplies

 

102,560.19

 

154,691.46

Work in progress

 

670,172.84

 

1,252,719.19

 

 

772,733.03

 

1,407,410.65

Receivables and other assets

 

 

 

 

Trade receivables

 

651,293.14

 

867,842.20

Receivables from the Free and Hanseatic City of Hamburg

 

2,771.91

 

12,656.13

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

 

74,000,000.00

 

43,906,458.90

Receivables from affiliated companies

 

399,332,181.78

 

378,617,204.52

Receivables from investee companies

 

5,033,946.75

 

4,720,951.01

Other assets

 

4,788,787.38

 

11,351,621.71

 

 

483,808,980.96

 

439,476,734.47

Cash and cash equivalents

 

129,632,909.02

 

164,202,688.63

Current assets

 

614,214,623.01

 

605,086,833.75

Accruals and deferrals

 

661,717.95

 

739,799.56

Deferred tax assets

 

39,885,000.92

 

35,478,457.10

Balance sheet total

 

1,059,227,742.09

 

1,039,297,580.51

 

 

 

 

 

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

 

196,564,319.39

 

199,044,818.51

Real Estate subgroup

 

27,561,693.90

 

23,557,565.35

 

 

224,126,013.29

 

222,602,383.86

Equity

 

496,914,703.40

 

495,391,073.97

Provisions

 

 

 

 

Provisions for pensions and similar obligations

 

303,327,400.31

 

313,095,443.46

Tax provisions

 

8,938,584.01

 

33,620.28

Other provisions

 

39,612,292.25

 

22,244,010.29

 

 

351,878,276.57

 

335,373,074.03

Liabilities

 

 

 

 

Liabilities from bank loans

 

70,300,499.73

 

76,237,999.73

Payments on account

 

774,740.36

 

1,611,568.19

Trade Liabilities

 

1,253,010.61

 

1,266,417.73

Liabilities towards the Free and Hanseatic City of Hamburg

 

28,766.33

 

5,167.63

Liabilities towards affiliated companies

 

119,367,283.16

 

107,621,393.32

Liabilities towards investee companies

 

3,300,781.14

 

3,746,352.30

Other liabilities

 

10,156,198.70

 

13,516,189.42

of which from taxes

 

2,100,803.00

 

3,536,812.32

of which for social security

 

794,761.92

 

917,536.31

 

 

205,181,280.03

 

204,005,088.32

Accruals and deferrals

 

12,255.53

 

0.00

Deferred tax liabilities

 

5,241,226.56

 

4,528,344.19

Balance sheet total

 

1,059,227,742.09

 

1,039,297,580.51