We are HGV
HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH is the group holding company of the Free and Hanseatic City of Hamburg.
What we do
On behalf of the Senate and the Finance Authority, HGV consolidates a large portion of Hamburg's public companies and some privately held investments. We manage these in close cooperation with the Finance Authority and other relevant departments. Our focus areas are public transport, traffic and logistics, real estate and urban development, and utilities.
In our management and development tasks, we always keep efficiency and competitiveness in mind. In this way, we create sustainable added value for the city budget. Through synergies across sectors, we not only create economic stability, but also actively develop the Hanseatic city. For an attractive place to live and do business – today and tomorrow.
From our responsibilities to how we use profits: Here we answer the most frequently asked questions about HGV in a transparent and easy-to-understand way.
The Free and Hanseatic City of Hamburg, represented by the Finance Authority, is the sole shareholder of HGV. HGV is therefore wholly owned by the Free and Hanseatic City of Hamburg.
Holding companies like HGV act as a strategic umbrella for the companies owned or in which a city holds a stake. In our case, this includes economic hubs such as HHLA and the airport, utility networks (energy, heating & water) and the HOCHBAHN (subway), as well as real estate such as police and fire station buildings, museums, and cultural properties. Instead of managing each company and each investment individually, a holding company consolidates them centrally under one roof to create synergies and manage everything efficiently.
In our context, this is not about questionable practices or tax avoidance schemes. It is about legally mandated tax optimization for the benefit of the public – the so-called "cross-subsidization." By offsetting the losses of one sector against the profits of another, we legally reduce the tax burden and prevent unnecessary capital outflows. This ensures that the maximum amount of generated revenue remains with the City of Hamburg and benefits its citizens.
Financial balance is particularly important in our work. Profits and losses are initially offset at the HGV (Hamburg Public Utilities) level within the framework of "cross-subsidization." Unlike private corporations, remaining profits do not flow to external shareholders but remain 100% within the city's assets.
We use funds in a spirit of solidarity by directly co-financing essential services such as the Bäderland swimming pools and public transport with revenues from profitable sectors, or by investing in infrastructure modernization. In this way, we relieve the burden on the city budget and ensure the long-term quality of life for Hamburg's citizens.
