Real Estate Segment

Key Figures

in € million

 

1–3 | 2017

 

1–3 | 2016

 

Change

Revenue

 

9.3

 

9.2

 

0.8 %

EBITDA

 

4.7

 

5.0

 

- 7.1 %

EBITDA margin in %

 

50.5

 

54.8

 

- 4.3 pp

EBIT

 

3.4

 

3.8

 

- 8.8 %

EBIT margin in %

 

37.0

 

40.9

 

- 3.9 pp

HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area continued their positive revenue trend at the beginning of 2017. Revenue again increased slightly by 0.8 % year-on-year to € 9.3 million as a result of almost full occupancy in both districts.

By contrast, the operating result (EBIT) fell by 8.8 % to € 3.4 million (previous year: € 3.8 million), mainly due to higher expenses for scheduled maintenance work as part of the necessary refurbishment of rental space, as well as project-related expenses in preparation for a new building project.