Real Estate segment
in € million |
|
|
|
Change |
||
|---|---|---|---|---|---|---|
Revenue |
|
23.4 |
|
23.0 |
|
1.8 % |
EBITDA |
|
11.8 |
|
11.7 |
|
0.7 % |
EBITDA margin in % |
|
50.6 |
|
51.1 |
|
- 0.5 pp |
EBIT |
|
6.7 |
|
7.0 |
|
- 3.4 % |
EBIT margin in % |
|
28.8 |
|
30.4 |
|
- 1.6 pp |
According to Grossmann & Berger’s latest market report, Hamburg’s office rental market lost momentum during the second quarter of 2025. In the first half of the year, the area of office space let rose by only 5.4 %, to around 216,000 m2 – compared to around 205,000 m2 in the same period last year. The vacancy rate rose year-on-year by a further 1.1 percentage points to 6.1 %.
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area reported stable growth in the first half of 2025, with almost full occupancy in both districts.
Revenue rose slightly by 1.8 % to € 23.4 million in the reporting period (previous year: € 23.0 million). While income from the fish market area remained more or less stable, the increase was due to successful lease renewals and reletting of space in the Speicherstadt historical warehouse district.
By contrast, there was a moderate decrease in the cumulative operating result (EBIT), which fell by 3.4 % to € 6.7 million (previous year: € 7.0 million). Increased rental income and lower maintenance costs could only partly offset the higher charges for non-operating expenses and depreciation.