Real Estate segment
in € million |
|
|
|
Change |
||
|---|---|---|---|---|---|---|
Revenue |
|
11.6 |
|
11.4 |
|
2.1 % |
EBITDA |
|
6.2 |
|
6.0 |
|
3.6 % |
EBITDA margin in % |
|
53.5 |
|
52.8 |
|
0.7 pp |
EBIT |
|
3.7 |
|
3.6 |
|
2.0 % |
EBIT margin in % |
|
31.7 |
|
31.7 |
|
0.0 pp |
According to Grossmann & Berger’s latest market report, Hamburg’s office rental market stabilised during the first quarter of 2025. The area of office space let rose by 45.9 %, from around 85,000 m2 in the same quarter last year to around 124,000 m2. By contrast, the vacancy rate rose year-on-year by 0.7 percentage points to 5.6 %.
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area also developed in line with this market trend and continued to make good progress in the first quarter of 2025, with almost full occupancy in both areas.
Revenue rose slightly by 2.1 % in the reporting period to € 11.6 million (previous year: € 11.4 million). While income from the fish market area remained stable, the increase was due to successful lease renewals and reletting of space in the Speicherstadt historical warehouse district.
The cumulative operating result (EBIT) also rose slightly by 2.0 % to € 3.7 million in the reporting period (previous year: € 3.6 million). This increase was primarily due to increased rental income and a decrease in maintenance costs, which more than offset higher depreciation and amortisation.