Hamburger Hafen Und Logistik AG (OTC: HHULF, HHULY) announced on Thursday a remarkable growth in its third-quarter net profit, after adjustments for minority interests, which soared by 167.3% to reach 9.9 million euros, up from 3.7 million euros in the same quarter of the previous year.
The German logistics and transportation conglomerate reported a robust rise in Group operating profit, or EBIT, which advanced by 36.1% to 34.4 million euros from 25.3 million euros last year. The EBIT margin experienced an improvement, increasing to 8.1% compared to the prior year’s 7%.
For the same quarter, the company's EBITDA showed a year-over-year increase of 10.2%, reaching 77.5 million euros. However, the EBITDA margin declined slightly to 18.3% from 19.4% in the previous year.
Group revenue saw a significant boost, increasing by 16.5% to 422.6 million euros compared to 362.9 million euros from the same quarter last year.
Looking forward, the company has revised its EBIT expectations for fiscal year 2024, now anticipating a range between 125 million euros and 145 million euros. This revision announced on October 30, marks an increase from the earlier expected range of 85 million to 115 million euros.
Overall, the Group maintains a positive projection, anticipating continued significant revenue growth at the Group level.
