Earnings release
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EUROKAI GmbH & Co. KGaA Interim Report for the First to Third Quarters 2025 To all our shareholders: In the first nine months of the 2025 business year the container terminals in the EUROKAI Group saw a rise in handling volumes of 14.4% compared with the same period of the previous year, to stand at 10.440 million TEUs 1 (previous year: 9.126 million TEUs). Global economic trends in the first nine months of 2025 proved to be more robust than expected. Given the backdrop of the bilateral US ta riffs announced, numerous exports were brought forward, especially in the first half of 2025, which initially gave support to global trade. In addition, extensive amounts of investment in art ificial intelligence, plus fiscal support measures in China, assisted in the stabilisation of the global economy. The economic effects of the new increases in tariffs are only partially visible so far, since they come into effect gradually and in many instances ar e temporarily counterbalanced by price concessions or margin adjustments. Nevertheless, si gns are increasing of an economic slowdown. The general level of uncertainty remains high – marked by geopolitical tensions, disrupted supply chains and a lack of clarity in the conditions of overall economic policy. Despite this environment characterised by economic and political risks, the EUROKAI Group was able to increase its year-on-year earnings in t he first nine months of the 2025 business year. The principle factors in this increase were an upswing in volumes, a rise in earnings from storage charges, and a notable increase in investment income. 1 TEU = Twenty Foot Equivalent Unit / Unit of measurement in container transport for a standard 20-foot container
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Handling figures and performance The following table shows handling volumes at the container terminals in which the EUROKAI Group participates: Terminal Jan. - Sept. 2025 (in TEU s) Jan. - Sept. 2024 (in TEU s) Change Hamburg 1,745,654 1,428,495 +22.2% Bremerhaven 3,686,402 3,350,240 +10.0% Wilhelmshaven 1,080,267 579,967 +86.3% Total Germany 6,512 ,323 5,358 ,702 +21 .5% La Spezia 839,657 818,336 +2.6% Salerno 302,292 263,545 +14.7% Ravenna 148,352 133,839 +10.8% Total Italy 1,290 ,301 1,215 ,720 +6 .1% Tangier (Morocco) 2,268,915 2,220,608 +2.2% Limassol (Cyprus) 367,981 330,914 +11.2% Total other 2,636 ,896 2,551 ,522 +3 .3% Total EUROKAI 10 ,439 ,520 9,125 ,944 +1 4.4% The volumes shown comprise handling at each of the container terminals in question. Of these figures, however, only the handling volumes at the fully consolidated container terminal in La Spezia contribute to Group revenues. Figures for the operating segments of the EUROKAI Group were as follows: CONTSHIP Italia segment: Handling volumes at the CONTSHIP Italia Group in the first nine months of the 2025 business year were up by a total of 6.1% on the same period of the previous year, to stand at 1.290 million TEUs (previous year: 1.216 million TEUs). Handling figures increased in each case at La Spezia (+2.6%), Salerno (+14.7%) and Ravenna (+10.8%). Building work, including the preparatory measures f or start-up at the Damietta Alliance Container Terminal in Damietta (Egypt), is pressing ahead. In June 2025 the last five gantry cranes for the Damietta Alliance Container Terminal were delivered. A start was already made in the first half-year 2025 on the induction proces s and training for our Egyptian colleagues. Operations are scheduled to start at the terminal in mid-December 2025. The CONTSHIP Italia segment also developed in the third quarter of 2025 better than originally planned. While in our half-yearly Report as of 30 J une 2025 we were still assuming that the result for the 2025 business year would be at the l evel of the 2024 business year, we now expect that it will slightly exceed this. The princ ipal factor in this development is the upswing in handling and revenue performance both at La Spez ia and in the intermodal segment. This positive trend is counterbalanced by contractually agreed salary rises and repair work at the
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Formelli East Quay. The result is also depressed by the start-up losses associated with the beginning of operations at the Damietta Alliance Container Terminal. EUROGATE segment: Handling volumes for the EUROGATE Group at the Germ an terminals in Hamburg, Bremerhaven and Wilhelmshaven rose by a total of 21 .5% in the period under review compared with the same period of the previous year, to stand at 6.512 million TEUs (previous year: 5.359 million TEUs). A notable success in this case was the exceptionall y sharp upswing in handling at Wilhelmshaven, which rose by 86.3% compared with the same period of the previous year. On a current view, segment profit for EUROGATE in 2 025, due to the upswing in handling figures, but particularly due also to high earnings in the current business year from storage and reefer charges, will turn out considerably higher than originally anticipated. Segment profit for EUROGATE in 2024 contained one-off income from the liquidation of a pro rata reserve of EUR 19.1 million. Taking into account the segment p rofit for 2024 adjusted for this extraordinary income, it is expected that EUROGATE segment profit for 2025 will come slightly under this. Outlook and forecast: Based on the profit expectations for the CONTSHIP I talia and EUROGATE segments, on a current view the EUROKAI Group is expected to show a profit for the whole of the 2025 business year, adjusted for the extraordinary incom e from the liquidation of a reserve in the EUROGATE segment of pro rata EUR 19.1 million, whic h will be slightly below the consolidated profit for the 2024 business year. This being so, the outlook for the whole of 2025 has not changed up to now compared with the forecast set out in the Half Yearly Financial Report for 2025. Existential risks Apart from the risks already set out in the Managem ent Report as of 31 December 2024, no additional risks have been identified which would r equire report. With the regard to the risks and opportunities for the EUROKAI Group, the foreca sts set out in the Management Report for 2024 and the Half-Yearly Financial Report for 2025 respectively continue to apply.
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Addendum There have been no transactions of particular importance which have not already been set out in the Management Report as of 31 December 2024 or the Half-Yearly Financial Report of 2025, or which are not a component part of this Interim Report. Hamburg, 12 November 2025 The Personally Liable General Partner Kurt F.W.A. Eckelmann GmbH Thomas H. Eckelmann Tom H. Eckelmann EUROKAI GmbH & Co. KGaA Kurt-Eckelmann-Strasse 1 21129 Hamburg Tel.: +49 40 7405-0 Internet: www.eurokai.de EUROKAI preference shares – key statistics: The market price of EUROKAI preference shares as of the end of September 2025 stood at EUR 45.00 (previous year: EUR 31.60). ISIN: DE 000 570653 5 Current market price (11 November 2025): EUR 46.40 52-week high: EUR 47.40 52-week low: EUR 30.00 Share capital: EUR 13,468,494.00, including preference shares of EUR 6,708,494.00