Real Estate segment
in € million |
|
|
|
Change |
||
|---|---|---|---|---|---|---|
Revenue |
|
11.6 |
|
11.6 |
|
- 0.4 % |
EBITDA |
|
6.1 |
|
6.2 |
|
- 2.7 % |
EBITDA margin in % |
|
52.3 |
|
53.5 |
|
- 1.2 pp |
EBIT |
|
3.2 |
|
3.7 |
|
- 12.3 % |
EBIT margin in % |
|
27.9 |
|
31.7 |
|
- 3.8 pp |
According to Grossmann & Berger’s market report, the market environment for office rentals in Hamburg remained challenging during the first quarter of 2026. The amount of office space let decreased by 23.4 % to around 96,000 m2, down from around 124,000 m2 in the same quarter of the previous year. The vacancy rate rose year-on-year by 1.5 percentage points to 7.1 %.
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area bucked the market trend with a stable development and almost full occupancy in both districts in the first quarter of 2026.
Revenue of € 11.6 million matched that of the previous year (previous year: € 11.6 million). Income remained constant in both the fish market area and the Speicherstadt historical warehouse district during the first quarter.
By contrast, there was a strong decrease in the cumulative operating result (EBIT), which fell by 12.3 % to € 3.2 million in the reporting period (previous year: € 3.7 million). This decline was primarily attributable to higher maintenance costs and increased depreciation and amortisation.