Report

2021 Result Update

HHLA recently published its preliminary 2021 financial highlights. After a temporary blip in 2020 led by the Covid-linked slowdown of global trade, the company’s revenue and operating profit (EBIT) bounced back in 2021, and even surpassed HHLA’s revised 2021 outlook issued on 20 October 2021. The recent fall in the broader equity market due to Russia and Ukraine conflict has increased the upside to 23% (based on our fair value estimate of EUR 22.2) and has automatically changed the rating to Attractive. We plan to revisit our fair value estimate when the company announces its full-year results in March 2022.
Underlying
Provider
Drewry Maritime Equity Research
Drewry Maritime Equity Research

Drewry, since 1970, has been providing research and advisory services on the global Maritime and Shipping industries and has established itself as a firm with long history of credibility and expertise on various aspects of the maritime industry. Leveraging this in-depth market knowledge and understanding, we have extended our offering to deliver a unique, independent investment research service on globally listed companies operating in the maritime industry. Under the brand Drewry Maritime Equity Research and in accordance with the FCA, DMER led by Rahul Kapoor and his team, offers fundamental analysis on listed companies. DMER analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. By combining these market-leading resources with seasoned sector expertise and commercial awareness, we are able to offer a highly differentiated and comprehensive investment research service to prospective investors in listed maritime companies. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Analysts
Ankush Kathuria

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