Real Estate Segment
in € million |
1–3 | 2016 |
1–3 | 2015 |
Change |
|||
Revenue |
9.2 |
8.7 |
5.8 % |
|||
EBITDA |
5.0 |
5.3 |
- 5.7 % |
|||
EBITDA margin in % |
54.8 |
61.4 |
- 6.6 pp |
|||
EBIT |
3.8 |
4.1 |
- 8.2 % |
|||
EBIT margin in % |
40.9 |
47.1 |
- 6.2 pp |
In contrast to the generally weaker trend for office space in Hamburg, revenue generated by HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area continued to make good progress in the early months of 2016. Revenue was increased by 5.8 % year on year to € 9.2 million (previous year: € 8.7 million). This was due to consistently high occupancy rates of nearly 100 % in both districts.
In contrast to revenue, the operating result (EBIT) decreased year on year by 8.2 % to € 3.8 million (previous year: € 4.1 million). Scheduled maintenance work was the main reason for this.