By contrast the segments operating result EBIT improved to 07 million previous

By contrast the segments operating result ebit

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By contrast, the segment’s operating result (EBIT) improved to € 0.7 million (previous year: € - 16.7 million) in the reporting period. Last year’s result included one-off expenses of € 14.9 million from the restructuring of project and contract logistics. The companies included in at-equity earnings recorded a year-on-year improvement in the first half of 2017 as a result of encouraging growth in bulk cargo handling. At-equity earnings rose by 17.8 % to € 2.6 million (previous year: € 2.2 million). Real Estate Segment Key Figures in € million 1–6 | 2017 1–6 | 2016 Change Revenue 18.7 18.7 - 0.1 % EBITDA 10.5 10.5 0.2 % EBITDA margin in % 56.2 56.0 0.2 pp EBIT 8.0 7.9 0.9 % EBIT margin in % 42.8 42.4 0.4 pp In Hamburg’s office rental market, the positive revenue trend seen at the beginning of the year continued in the second quar- ter. According to Grossmann & Berger’s latest market report, 300,000 m 2 of office space was let in the first half of 2017 – 25 % more than in the previous year. Lettings of temporary space for use during renovation work contributed to this substantial increase. Owner-occupied properties played only a minor role in the first half of the year, however. Due to high demand, Hamburg’s vacancy rate fell by 0.5 percentage points year on year to 4.9 % – thus falling below the 5 % mark for the first time in 10 years. The HafenCity section of the market, which includes HHLA’s properties in the Speicher- stadt historical warehouse district, had a vacancy rate of 5.4 % (previous year: 8.3 %). There was also a consistently positive trend for HHLA’s prop- erties in the Speicherstadt historical warehouse district and fish market area in the first six months of 2017. As a result of virtu- ally full occupancy in both areas, revenue remained on a par with the previous year at € 18.7 million in the first half-year. The operating result (EBIT) of € 8.0 million, up slightly on last year’s figure of € 7.9 million. Employees Employees by segments 30.06.2017 31.12.2016 Change Container 2,912 2,945 - 1.1 % Intermodal 1,790 1,687 6.1 % Holding/Others 654 651 0.5 % Logistics 142 214 - 33.6 % Real Estate 31 31 0.0 % HHLA Group 5,529 5,528 0.0 % At the end of the first half of 2017, HHLA employed a total of 5,529 people. Headcount therefore remained virtually unchanged from 31 December 2016. In geographical terms, the workforce was concentrated mainly in Germany, with 3,514 staff members (31 December 2016: 3,625), most of whom are based in Hamburg. This corresponds to a share of 63.6 % (31 December 2016: 65.6 %). The number of staff employed Interim Management Report 9 HHLA HALF-YEAR FINANCIAL REPORT JANUARY — JUNE 2017
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abroad rose by 5.9 % to 2,015 in the first half of 2017 (31 December 2016: 1,903). This was primarily due to increased headcount at the Intermodal companies in the Czech Republic, Slovakia, Slovenia and Hungary. Due to the expansion of its services and increase in vertical integration, the Intermodal segment hired an additional 103 workers, taking its headcount to 1,790. The number of staff employed by the Logistics segment fell by 72 compared with December 2016. This was mainly due to the discontinuation of operating activities in project and contract logistics. There was only little or no change
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