52. Events after the balance sheet date

In early January 2020, China announced that a novel coronavirus had been detected in several patients. However, the initial local outbreak of the virus developed relatively quickly into an international pandemic. HHLA evaluated the potential impact of the coronavirus pandemic on the development of business – based on the current state of knowledge – and took this into account in its forecast for expected earnings in 2020. Estimates regarding the further development of the coronavirus pandemic, however, are subject to considerable uncertainty and earnings may therefore differ significantly from the forecast. Please see the business forecast, which forms part of the Combined Management Report. The outbreak of the virus has not resulted in any effects on the recognition or measurement of the Group’s assets and liabilities as of 31 December 2019.

There were no other events of special significance after the balance sheet date 31 December 2019.

Hamburg, 23 March 2020

Hamburger Hafen und Logistik Aktiengesellschaft

Angela Titzrath

Jens Hansen

Dr. Roland Lappin

Torben Seebold