Real Estate segment
in € million |
|
|
|
Change |
||
|---|---|---|---|---|---|---|
Revenue |
|
24.2 |
|
23.4 |
|
3.7 % |
EBITDA |
|
13.2 |
|
11.8 |
|
11.5 % |
EBITDA margin in % |
|
54.4 |
|
50.6 |
|
3.8 pp |
EBIT |
|
7.5 |
|
6.7 |
|
11.0 % |
EBIT margin in % |
|
30.9 |
|
28.8 |
|
2.1 pp |
According to Grossmann & Berger, the market environment for office rentals in Hamburg remained very subdued in the second quarter of 2026. The take-up of office space decreased by 13.9 % year-on-year to around 186,000 m2. The vacancy rate rose by 1.1 percentage point to 7.2 %.
However, HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area bucked this market trend, achieving a steady performance in the first half of 2026 and close to full occupancy in both districts.
Revenue rose by a moderate 3.7 % in the reporting period to € 24.2 million (previous year: € 23.4 million). Following the completion of projects, new lettings in the Speicherstadt historical warehouse district contributed to this revenue growth.
Despite higher maintenance costs, the cumulative operating result (EBIT) for the reporting period rose strongly by 11.0 % to € 7.5 million (previous year: € 6.7 million). This trend was attributable to both higher revenue and the absence of one-off expenses for non-operating services, which had weighed on the previous year’s result.