Real Estate segment
in € million |
|
2022 |
|
2021 |
|
Change |
|---|---|---|---|---|---|---|
Revenue |
|
44.1 |
|
38.1 |
|
15.9 % |
EBITDA |
|
26.6 |
|
22.6 |
|
17.7 % |
EBITDA margin in % |
|
60.3 |
|
59.4 |
|
0.9 pp |
EBIT |
|
18.4 |
|
15.3 |
|
20.9 % |
EBIT margin in % |
|
41.8 |
|
40.0 |
|
1.8 pp |
According to Grossmann & Berger’s latest market report, 565,000 m2 of space was let on Hamburg's office rental market in 2022 as a whole, corresponding to year-on-year growth of 15 % – even though the fourth quarter fell significantly short of expectations. As of year-end 2022, the vacancy rate in Hamburg amounted to 4.0 %, a moderate increase compared to the prior-year figure of 3.8 %.
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area reported a positive trend in 2022 with almost full occupancy.
Revenue rose strongly by 15.9 % in the reporting period to € 44.1 million (previous year: € 38.1 million). In addition to increased earnings from revenue-based rent agreements, this growth was mainly due to rising rental income from newly developed properties in the Speicherstadt historical warehouse district.
The cumulative operating result (EBIT) rose by 20.9 % to € 18.4 million in the reporting period (previous year: € 15.3 million). This further positive development in earnings was primarily driven by revenue growth, while maintenance volumes were lower.
To ensure the economic success of the segment, HHLA will continue to invest in its property portfolio as part of its value-oriented development of the districts in Hamburg.