Real Estate Segment
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.