Hamburger Hafen & Logistik AG, the handler of about three in four containers at Hamburg’s port, dropped the most in five years after it warned that sanctions against Russia as a result of the Ukraine crisis may cause earnings to fall this year.
Hamburger Hafen & Logistik AG, which handles about three of four containers at Hamburg’s port, saw rising volume last year as feeder traffic to the Baltic Sea and Russia grew amid a shrinking northern European market.
Hamburger Hafen & Logistik AG, which handles about 80 percent of containers at the port of Hamburg, stuck to a forecast of possible revenue growth this year after first-quarter volume at its rail and trucking operations rose.
Hamburger Hafen & Logistik AG, the handler of about three in four containers at Hamburg’s port, posted a 16 percent drop in nine-month profit as modernization of a terminal drove up costs. The shares fell the most in three months.
Hamburger Hafen und Logistik AG expects revenues to exceed 1 billion euros this year and said an operating result of 180 million euros is possible. The Hamburg- based company also forecast growth for 2011 as the recovery in transport volumes accelerates.
Hamburger Hafen & Logistik AG , which handles two-thirds of containers in the Port of Hamburg, said first-quarter profit jumped 47 percent because of growth in European exports to China and increasing traffic to Russia.