Q4 2019 Hamburger Hafen und Logistik AG Earnings Call Transcript
Thank you. Ladies and gentlemen, these are extraordinary times in which we come together virtually. We hope that you're all in safe environments and practice the social distancing, just like we do at HHLA. While working mostly from home office and with digital means, we published our expectations for business development already last Friday.
Today, we would like to use this call to explain to you how we see the current situation, and what we do to mitigate risks. Therefore, we are happy to see that so many of you have joined this call.
Although 2019 seems light-years away, I would briefly like to remind you of the results achieved in that year. In a mixed and increasingly difficult market environment, we were able to improve most KPIs. Against the background of current developments, especially the significantly improved cash flow and the net profit close to EUR 94 million are important. I will come back to that a little later.
ROCE decreased due to the changed accounting policy
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