Real Estate segment
in € million |
|
1–6 | 2022 |
|
1–6 | 2021 |
|
Change |
|---|---|---|---|---|---|---|
Revenue |
|
21.5 |
|
18.4 |
|
17.2 % |
EBITDA |
|
13.3 |
|
10.2 |
|
30.6 % |
EBITDA margin in % |
|
61.9 |
|
55.5 |
|
6.4 pp |
EBIT |
|
9.4 |
|
6.6 |
|
43.7 % |
EBIT margin in % |
|
43.9 |
|
35.8 |
|
8.1 pp |
Due to the ongoing recovery effects following the Covid-19 crisis, the war in Ukraine continued to have no discernible impact on Hamburg’s office rental market in the second quarter. According to Grossmann & Berger’s latest market report, 305,000 m2 of office space was let as of 30 June 2022 – just short of the pre-pandemic level of 2019. The prior-year figure was exceeded by 35.6 %. The vacancy rate in Hamburg remained stable as compared with the same quarter last year at 3.8 %.
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area maintained their positive trend with almost full occupancy in the second quarter of the current financial year.
Revenue rose by 17.2 % in the reporting period to € 21.5 million (previous year: € 18.4 million). In addition to the continued growth in earnings from revenue-based rent agreements, the increase was due in part to rising rental income from newly developed properties in the Speicherstadt historical warehouse district.
The cumulative operating result (EBIT) rose by 43.7 % to € 9.4 million in the reporting period (previous year: € 6.6 million). This further positive development in earnings was primarily driven by revenue growth, while maintenance volumes remained almost constant.