Corporate | 14 January 2015 08:12
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Hypoport AG / Key word(s): Quarter Results
Press release Volume of transactions in 2014 EUROPACE achieves significant double-digit growth in 2014 as the volume of transactions hits a new record Berlin, 14 January 2015: The volume of transactions completed in 2014 on EUROPACE – the marketplace for financial products – grew by 15 per cent year on year to EUR36.2 billion, which was a new record. Mortgage finance was once again the strongest product segment, generating transactions worth EUR27.8 billion (up 14 per cent). However, building finance and personal loans also achieved double-digit year-on-year growth. In addition, the number of partners actively using EUROPACE continued to rise sharply – by around 20 per cent – to almost 300. “Demand for residential property remains high on the back of continually low interest rates. On the other hand, these sluggish rates are not providing much stimulus,” commented Thilo Wiegand, Chief Executive Officer of Europace AG. “The data currently available therefore suggests that the German mortgage finance market as a whole will again have grown only marginally in 2014. By contrast, the sharply rising numbers of transactions and partners on EUROPACE demonstrate that more and more banks recognise the appeal of our flexible marketplace solution.” The fourth quarter of the year is traditionally a fairly weak one for mortgage finance. Nonetheless, the transaction volume of EUR9.2 billion generated by EUROPACE in this quarter of 2014 fell only just short of the record figure of EUR9.6 billion reported for the third quarter and is therefore the second-best quarterly result ever achieved by the Company. “We believe this can be partly attributed to transactions that were brought forward in anticipation of the increases in real estate transfer tax introduced in the German federal states of North Rhine-Westphalia and Saarland on 1 January 2015,” explained Wiegand. The product segments in detail The total volume of transactions generated across all product segments grew by just under 15 per cent year on year to EUR36.2 billion (2013: EUR31.6 billion). Mortgage finance transactions amounted to EUR27.8 billion, which constituted a year-on-year rise of more than EUR3.4 billion or 14 per cent (2013: EUR24.4 billion) and meant that this product segment accounted for almost 77 per cent of the total volume of transactions. The other product segments also achieved double-digit growth. Building finance helped boost the marketplace’s growth by generating transactions worth EUR6.9 billion in 2014, which represented an increase of 19 per cent on the EUR5.8 billion reported for 2013. The personal loans product segment grew by 11 per cent year on year from EUR1.4 billion in 2013 to EUR1.6 billion in 2014. Note: Neither the revenue nor the earnings generated by Hypoport can be directly extrapolated from the transaction figures given above.
About EUROPACE
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 2015-01-14 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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