Hypoport SE / DE0005493365
06.05.2024 - 07:10:07Hypoport gets 2024 underway with double-digit growth
| Hypoport SE / Key word(s): Quarter Results 06.05.2024 / 07:10 CET/CEST The issuer is solely responsible for the content of this announcement. Group results for Q1 2024 Consolidated revenue up 15 per cent year on year EBIT more than quadrupled to €4.3 million Mortgage finance business models particularly strong Forecast for 2024 of revenue of at least €400 million and EBIT of between €10 million and €20 million confirmed Berlin, 6 May 2024: In the first quarter of 2024, the Hypoport Group increased its revenue by 15 per cent compared with Q1 2023 to €107 million. The growth was driven by the business models for mortgage finance in the Real Estate & Mortgage Platforms segment. A considerable rise in transaction volumes on the Europace, Finmas and Genopace platforms and in sales volumes generated by Dr. Klein provided a significant boost for revenue in the Real Estate & Mortgage Platforms segment. Besides further increases in market share, this revenue growth came on the back of an upturn in the market following a reduction in long-term interest rates at the end of 2023, lower property prices and an increasingly unattractive rental market, which is prompting many home seekers to more seriously consider purchasing residential property. With higher revenue from the property sales platform and lower revenue in the market for property valuation – which remains challenging due to regulatory constraints and fewer transactions – revenue for the segment as a whole came to €73 million (up 24 per cent compared with Q1 2023). Three different aspects shaped the performance of the Financing Platforms segment. Despite a weak overall market, the housing industry subsegment gained market share and generated double-digit revenue growth to get 2024 off to a good start. In the personal loans subsegment, the client base was expanded, but ever more restrictive commercial banks and a weaker overall market meant that revenue remained flat. In the corporate finance subsegment, the volume of new projects decreased significantly in light of the spending freeze for many government support programmes, more restrictive lending by banks and postponements of corporate clients’ investment plans. Overall, therefore, the Financing Platform segment’s revenue declined marginally and was down by 6 per cent compared with the first quarter of 2023 to €17 million. In the Insurance Platforms segment, the migration of the insurance portfolios to the respective B2B platforms progressed in all three subsegments (private insurance, occupational insurance and industrial insurance), although the occupational insurance subsegment, centred around the ePension platform, put in a particularly strong performance in the first quarter of 2024 as a result of the clients acquired in 2023. Compared with the first three months of 2023, the segment generated modest revenue growth of 5 per cent to €18 million in a stable overall market. Ronald Slabke, Chief Executive Officer of Hypoport SE, provided the following assessment of the first quarter: “We have implemented a raft of measures over the last 18 months in order to create added value, with a particular focus on the mortgage finance market, which is currently experiencing a phase of upheaval. The first fruits of this additional market penetration are now coming through in strong revenue growth. The growth in EBIT for the Group as a whole is finally demonstrating the scalability of our platform business models once again.”
Head of Investor Relations // IRO Tel: +49 (0)30 42086 1942 Mobile: +49 (0)176 9651 2519 Email: ir@hypoport.de Hypoport SE Heidestrasse 8 10557 Berlin, Germany www.hypoport.com 2024 financial calendar: 6 May 2024: Interim management statement for the first quarter of 2024 12 August 2024: Report for the first half of 2024 11 November 2024: Interim management statement for the third quarter of 2024 06.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | Hypoport SE |
| Heidestraße 8 | |
| 10557 Berlin | |
| Germany | |
| Phone: | +4930420861942 |
| Fax: | +49/30 42086-1999 |
| E-mail: | ir@hypoport.de |
| Internet: | www.hypoport.de |
| ISIN: | DE0005493365 |
| WKN: | 549336 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1895647 |
| End of News | EQS News Service |
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