Real Estate segment
in € million |
1–9 | 2019 |
1–9 | 2018 |
Change |
|||
|---|---|---|---|---|---|---|
Revenue |
29.9 |
29.3 |
2.1 % |
|||
EBITDA |
18.0 |
16.0 |
12.2 % |
|||
EBITDA margin in % |
60.1 |
54.7 |
5.4 pp |
|||
EBIT |
12.5 |
12.3 |
1.3 % |
|||
EBIT margin in % |
41.6 |
42.0 |
- 0.4 pp |
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area continued their positive revenue trend in the third quarter of 2019. Although revenue in the previous year was already based on virtual full occupancy in both quarters, there was further moderate year-on-year growth of 2.1 % to € 29.9 million (previous year: € 29.3 million). The increase in planned and implemented maintenance work was offset by revenue growth from properties in the Speicherstadt historical warehouse district. The slight 1.3 % rise in the operating result (EBIT) to € 12.5 million (previous year: € 12.3 million) is mainly due to the application of IFRS 16.