Real Estate segment
in € million |
1–3 | 2019 |
1–3 | 2018 |
Change |
|||
Revenue |
9.8 |
9.4 |
3.5 % |
|||
EBITDA |
5.7 |
4.9 |
16.8 % |
|||
EBITDA margin in % |
58.2 |
51.6 |
6.6 pp |
|||
EBIT |
3.9 |
3.6 |
6.4 % |
|||
EBIT margin in % |
39.5 |
38.5 |
1.0 pp |
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area continued their positive revenue trend in the first quarter of 2019. The revenue achieved last year on the basis of virtually full occupancy in both districts was raised moderately once again by 3.5 % to € 9.8 million (previous year: € 9.4 million) as a result of increased revenue from newly developed properties in the Speicherstadt historical warehouse district and existing properties in the fish market area. With a slight increase in maintenance costs, the 6.4 % increase in the operating result (EBIT) to € 3.9 million (previous year: € 3.6 million) was largely due to the application of IFRS 16.