Hamburger Hafen und Logistik HHFA.DE
What does Hamburger Hafen und Logistik do?
Hamburger Hafen und Logistik AG is a port and logistics group with a focus on the Port of Hamburg. The company operates container terminals where ships are loaded and unloaded and containers are transferred to rail, truck, feeder vessels or inland waterway vessels. It also offers container repair and maintenance services.
The business is divided into the Container, Intermodal and Logistics, and Real Estate segments. The Intermodal division connects seaports with the hinterland through rail and road transport and operates its own terminal networks for this purpose. Customers are mainly container shipping lines and alliances, as well as freight forwarders and shippers. The company competes mainly with other North Range ports such as Rotterdam and Antwerp. Its position rests on its inland location, its dense rail connections and the integration of terminal and hinterland transport.
Score profile
Rank vs. Industrials (296 companies). 10 = top of the group, 5 = middle. Calculated from the metrics below, without AI.
Metrics compared with the industry
On profitability and quality, Hamburger Hafen und Logistik ranks in the bottom fifth in the group Industrials (1.9/10). On growth, the company ranks below average in the group Industrials (2.8/10). On valuation (higher = cheaper), the stock ranks in the middle in the group Industrials (5.9/10). On financial strength, Hamburger Hafen und Logistik ranks in the bottom fifth in the group Industrials (1.1/10).
| Metric | Stock | Group median | Ranking |
|---|---|---|---|
| Forward P/E | 18.3x | 17.8x | better than 45 % |
| PEG ratio | 1.3x | 1.4x | better than 55 % |
| EV/EBITDA | 12.0x | 14.0x | better than 64 % |
| Price/sales | 0.9x | 1.9x | better than 72 % |
| Price/book | 2.1x | 3.3x | better than 72 % |
| Revenue growth | 2.5% | 8.4% | better than 24 % |
| Earnings growth | 0.0% | 8.9% | better than 32 % |
| Gross margin | 23.4% | 30.6% | better than 30 % |
| Operating margin | 4.5% | 12.3% | better than 19 % |
| Net margin | -0.8% | 7.0% | better than 11 % |
| Return on equity | 0.4% | 14.1% | better than 15 % |
| Debt/equity | 199.0% | 58.3% | better than 9 % |
| Current ratio | 1.0x | 1.7x | better than 16 % |
| Free cash flow yield | -1.6% | 3.2% | better than 9 % |
| Dividend yield | 0.5% | 1.3% | – |
| Payout ratio | 250.0% | 31.1% | – |
| Beta | 0.36 | 1.10 | – |
Valuation: what is Hamburger Hafen und Logistik worth?
Two valuation approaches – a discounted cash flow model and a valuation at the industry’s median multiples – give Hamburger Hafen und Logistik a model range of 20.79 EUR to 28.53 EUR per share.
The full DCF matrix, the reverse DCF (what growth the price implies) and scenarios are part of the Pro analysis.
What the business depends on
- Container handling at the terminals depends on global trade and the cargo volumes of shipping lines.
- Hinterland transport by rail and truck increases value creation and binds customers more closely to the terminals.
- Capacity utilization, productivity and tariff structure at the terminals determine how much of revenue remains as earnings.
Risks
- Dependence on a small number of large shipping lines and alliances can weigh on capacity utilization if cargo flows shift elsewhere.
- Competing North Range ports can draw away volume, for example through better accessibility, capacity or pricing.
- Cyclical and geopolitical fluctuations in global trade, as well as strikes or supply chain disruptions, affect handling volumes and costs.
What to look for with Hamburger Hafen und Logistik
Container throughput per terminal relative to capacity shows the utilization of the capital-intensive facilities and thus the earnings power of the core business.