Corporate | 4 August 2014 08:42
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Hypoport AG / Key word(s): Half Year Results
Press release Financial results for the first half of 2014 Hypoport remains firmly on track Berlin, 4 August 2014: Online financial service provider Hypoport continued on its growth trajectory in the first six months of this year. Its revenue for this period rose to EUR53.3 million, while its earnings before interest and tax (EBIT) came to EUR4.3 million. Despite persistently challenging market conditions – such as historically low interest rates and the regulation introduced in the financial services markets – Hypoport AG’s first-half revenue advanced by 12.1 per cent year on year to EUR53.3 million (H1 2014: EUR47.6 million). Earnings before interest and tax (EBIT) increased from EUR0.7 million in the first six months of 2013 to EUR4.3 million in the corresponding period of this year. “Only our mortgage-finance business continues to benefit marginally from the low level of interest rates,” was how Chief Executive Officer Ronald Slabke summarised the prevailing market situation in the Private Clients business unit. “A steady stream of new European Union directives and laws enacted by the German government is imposing a never-ending flood of regulation on the financial services market. The most recent examples of regulation that has adversely affected both us and our partners are the EU Directive on Consumer Rights and the German Life Insurance Reform Act (LVRG), the latter having been pushed through in something of a hurry. Hypoport continued to meet these challenges successfully and to strategically realign its insurance business for private clients. Having completed two highly encouraging financial quarters, the Private Clients business unit generated earnings of EUR1.0 million.” The Financial Service Providers business unit achieved double-digit growth in the value of transactions generated in the second quarter of 2014, setting a new record of EUR9.0 billion for its transaction volume. The earnings of EUR3.0 million posted by this business unit made a substantial contribution to the profit generated by the Hypoport Group in the first six months of the year. Although many business customers adopted a fairly cautious stance – especially in the second quarter – as rock-bottom interest rates failed to provide any stimulus, the Institutional Clients business unit achieved double-digit year-on-year increases in its volume of loans brokered, its revenue and its earnings for the first half of 2014.
Taken together, the financial results achieved in the first half of the year confirm that Hypoport is on the right track with its forecast for 2014 as a whole, for which Slabke continues to expect double-digit revenue growth and earnings above the record levels seen in 2010 and 2011.
Contact: Christian Würdemann Head of Communications, Human Resources & Legal Hypoport AG Klosterstraße 71 D-10179 Berlin Phone: +49 (0) 30 / 4 20 86 – 1920 Fax: +49 (0) 30 / 4 20 86 – 281920 E-Mail: ir@hypoport.de Internet: www.hypoport.de Twitter: http://twitter.com/Hypoport 04.08.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Hypoport AG | |
| Klosterstraße 71 | ||
| 10179 Berlin | ||
| Germany | ||
| Phone: | +49/30 42086-0 | |
| Fax: | +49/30 42086-1999 | |
| E-mail: | ir@hypoport.de | |
| Internet: | www.hypoport.de | |
| ISIN: | DE0005493365 | |
| WKN: | 549336 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
| End of News | DGAP News-Service |
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| 280500 04.08.2014 |