Hamburg's Public Enterprises Report Record Investments and Surplus

Despite increased investments and profits, concerns rise over growing debts and extensive state involvement.

Hamburg's public enterprises invested a record €3 billion in 2023, marking a one-third increase from the previous year.
The city's financial report shows a €1.29 billion surplus, largely driven by dividends from the shipping company Hapag-Lloyd.
Overall liabilities of the public enterprises rose by 4.5% to €18.7 billion, prompting criticism from opposition parties.
Critics argue that the city's extensive involvement in over 360 companies raises questions about market intervention and financial risks.
Calls for improved risk management and strategic evaluation of public enterprise roles have been made by political and taxpayer advocacy groups.