Hamburger Hafen und Logistik AG (HHLA) has lowered its outlook for 2026 after container throughput and transport volumes fell short of earlier expectations. The German port and logistics group said extensive modernisation work at its Hamburg container terminals has affected operations more than initially expected. Infrastructure work on the rail network has also weighed on performance. In addition, HHLA pointed to the challenging economic environment, geopolitical uncertainty and the impact of severe winter weather earlier this year. Container throughput forecast downgraded HHLA has significantly reduced its expectations for container throughput within its Port Logistics subgroup. The company now expects container throughput to decrease slightly year-on-year in 2026. Previously, HHLA had forecast a significant increase. The outlook for container transport has also weakened. HHLA now expects a slight year-on-year increase, compared with its previous forecast for strong growth. According to the company, terminal automation and rail infrastructure projects have had a greater operational impact than anticipated. Port Logistics earnings forecast reduced HHLA also lowered its financial expectations for the Port Logistics subgroup. Operating profit (EBIT) is now expected to reach between €135 million and €155 million . The previous forecast ranged from €160 million to €180 million. Revenue is still expected to increase significantly year-on-year. However, HHLA had previously anticipated strong revenue growth. The company also said it no longer expects to fully offset the impact of winter weather experienced at the beginning of 2026. HHLA lowers group EBIT guidance At group level, HHLA now expects EBIT of between €150 million and €170 million , down from its previous guidance of €175 million to €195 million. The company continues to expect a significant increase in group revenue, although this has also been downgraded from its previous forecast for strong growth. For the Re