Hans Group (HKG:0554) said it expects a maximum loss attributable to the equity shareholders of HK$190 million for 2024, wider than HK$35 million from 2023, according to a Wednesday Hong Kong bourse filing.

The terminal storage, trading, and logistics company attributed the expected wider loss to the acquisition of further Bravo Transport Holdings shares.

The acquisition resulted in an increase in depreciation and amortization expenses along with certain liabilities related to deferred payments and certain unsettled payables related to the acquisition.

Despite the loss, the group expects to record minimum earnings before interest, tax, depreciation, and amortization of HK$250 million for 2024, higher than HK$58 million from 2023.

Shares of the company closed nearly 5% lower on Thursday.