Real Estate Segment
in € million |
1–9 I 2016 |
1–9 I 2015 |
Change |
|||
Revenue |
28.0 |
27.5 |
1.8 % |
|||
EBITDA |
15.3 |
16.4 |
- 6.6 % |
|||
EBITDA margin in % |
54.8 |
59.7 |
- 4.9 pp |
|||
EBIT |
11.5 |
12.7 |
- 8.9 % |
|||
EBIT margin in % |
41.2 |
46.0 |
- 4.8 pp |
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area continued their positive revenue trend in the third quarter of 2016 amid virtually full occupancy. This is reflected by the 1.8 % increase in revenue to € 28.0 million (previous year: € 27.5 million).
By contrast, the operating result (EBIT) declined by 8.9 % year-on-year to € 11.5 million (previous year: € 12.7 million), primarily due to higher maintenance expenses for the necessary refurbishment of rental space in the Speicherstadt historical warehouse district. In addition, the prior-year figure included extraordinary income of € 0.9 million from an insurance refund.