Hamburger Hafen und Logistik AG (HHLA) and Deutsche Bahn (DB) are rearranging the holdings in their companies which provide railbound container transport services. HHLA is taking over DB’s shareholding in the intermodal operators Polzug (33.3 percent) and Metrans (35 percent). In return, the existing 50 percent stake of HHLA in TFG Transfracht will be transferred to DB. Once the transactions have been completed, HHLA will hold 86.5 percent of Metrans and including a capital increase 74.5 percent of Polzug Intermodal, while TFG Transfracht will be wholly owned by DB Mobility Logistics AG. The transaction prices will not be disclosed as agreed by both parties. Today, the Supervisory Board of HHLA authorised the transactions. At DB, the decision is currently being taken by the relevant bodies. The transactions are still subject to the approval of the applicable antitrust authorities.

The unbundling will enable HHLA to align its intermodal companies even more consequently with the needs of maritime logistics. In doing so, HHLA will make greater use of own production resources as a means of optimising operational processes for rail transport in the European hinterland. These production resources primarily include modern inland terminals, rail waggons and locomotives.

The operational relationship between TFG Transfracht and HHLA’s container terminals, i.e. the operation of rail transport services to and from the Port of Hamburg, will not be affected by the restructuring of the shareholdings. This also applies to purchases of services from Metrans and Polzug by DB and its subsidiaries. HHLA and DB also plan to maintain their constructive dialogue in order to strengthen the Port of Hamburg’s competitive position. In addition, HHLA aims to further intensify its cooperation with Polish PKP Cargo, which remains a shareholder in Polzug Intermodal. Consequently, this might lead to an increase of PKP Cargo in the stake of Polzug Intermodal later on.

The unbundling of the subsidiaries will affect some key figures of HHLA’s Intermodal segment. Main effects are to be expected by the deconsolidation of TFG Transfracht, leading to an initial decrease of the transport volume as well as the revenue base. However, a positive impact of the deconsolidation is to be seen on the segment’s operating result (EBIT). Perspectively, an improvement in operational profitability is also expected thanks to a higher added value and the earnings strength of the companies making use of their own production resources. The new distribution of ownership will start to be reflected in HHLA’s financial statements with the first half of 2012.

About HHLA

Hamburger Hafen und Logistik AG (HHLA) is a leading port logistics group in Europe. With its Container, Intermodal and Logistics segments, HHLA is positioned vertically along the transport chain. Efficient container terminals, high-capacity transport systems and a full range of logistics services form a complete network between the overseas port and its European hinterland.

Further inquiries

Florian Marten, Head of Corporate Communications; Phone +49-(0)40-3088-3503

Mark Krümpel, Press Spokesperson; Phone +49-(0)40-3088-3521