Real Estate segment
in € million |
|
|
|
Change |
||
|---|---|---|---|---|---|---|
Revenue |
|
35.6 |
|
34.8 |
|
2.3 % |
EBITDA |
|
19.3 |
|
17.2 |
|
12.6 % |
EBITDA margin in % |
|
54.2 |
|
49.3 |
|
4.9 pp |
EBIT |
|
10.7 |
|
9.5 |
|
13.1 % |
EBIT margin in % |
|
30.1 |
|
27.3 |
|
2.8 pp |
According to Grossmann & Berger’s market report, the market environment for office rentals in Hamburg remained very subdued in the third quarter of 2026. The take-up of office space decreased by 13.7 % to around 270,000 m2. The vacancy rate rose year-on-year by 0.7 percentage points to 7.2 %.
HHLA’s properties in the Speicherstadt historical warehouse district and the fish market area confounded market trends, however, again reporting steady growth in the third quarter of 2026, with almost full occupancy in both districts.
Revenue rose by a moderate 2.3 % in the reporting period to € 35.6 million (previous year: € 34.8 million). Following the completion of projects, new lettings in the Speicherstadt historical warehouse district contributed to this revenue growth.
Despite higher maintenance costs, the cumulative operating result (EBIT) rose by 13.1 % to € 10.7 million (previous year: € 9.5 million). This trend was attributable to both higher revenue and the absence of one-off expenses for non-operating services, which had weighed on the previous year’s result.