Corporate | 31 October 2016 07:33
Hypoport’s top- and bottom-line growth in double digits
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DGAP-News: Hypoport AG / Key word(s): 9-month figures
Press release Preliminary financial results for the first nine months of 2016 Hypoport’s top- and bottom-line growth in double digits Berlin, 31 October 2016: Hypoport was able to maintain its path of steady growth in the third quarter. This is clear from the results for the nine-month period: the technology-based financial service provider has again reported record levels of revenue and earnings. At EUR113.5 million, consolidated revenue was up by approximately 10 per cent year on year (Q1-Q3 2015: EUR103.1 million). Earnings rose by 15 per cent to EUR17.0 million (Q1-Q3 2015: EUR14.7 million). Whereas the market environment in the prior-year period had been boosted by a jump in interest rates in the early summer of 2015, the introduction of the Mortgage Credit Directive had a dampening effect on the markets in the reporting period, at least during April and May. According to Deutsche Bundesbank, the mortgage finance market contracted by 6 per cent in the first eight months of 2016 as a result of these non-recurring effects – despite structural growth generated by construction activity and rising property prices. Ronald Slabke, Chief Executive Officer of Hypoport AG, believes that the increase in the Hypoport Group’s market share is “accelerating the growth of technology-based lending advice with a wide choice of products from a variety of mortgage providers”. The Financial Service Providers business unit delivered its best performance for a nine-month period in the Company’s history. In the first three quarters of 2016, the business unit reported revenue of EUR38.3 million (Q1-Q3 2015: EUR31.5 million). Earnings before interest and tax (EBIT) was significantly higher than in the prior-year period at EUR9.6 million (Q1-Q3 2015: EUR7.7 million). Besides a much stronger market position in the mortgage finance market, another reason for the good results was the encouraging performance of KreditSmart in the personal loans market. The Private Clients business unit also registered its best performance for a nine-month period in the Company’s history. The business unit’s revenue grew by 7 per cent to EUR64.1 million (Q1-Q3 2015: EUR59.7 million). EBIT rose at an even stronger rate of 19 per cent, reaching EUR7.4 million (Q1-Q3 2015: EUR6.2 million). Market share was increased in both the loan brokerage and the personal loans segments. Expansion of the advisor network and the top marks consistently achieved by Dr. Klein in consumer surveys on service quality and fairness are helping to strengthen the business unit’s market position. The Corporate Real Estate Clients business unit was faced with widespread reticence among market participants during the reporting period due to the lack of stimulus from interest rates. At the same time, new-build housing projects are being planned but the timing of their financing is not yet clear. Revenue nevertheless held steady thanks to interest rates being locked in for long periods under contracts already signed and thanks to attractive loans of insurers. At EUR11.9 million, revenue was down only slightly year on year (Q1-Q3 2015: EUR12.5 million). Capital expenditure on expanding support resources and on new business models resulted in EBIT of EUR3.6 million, which was lower than in the first nine months of the previous year (Q1-Q3 2015: EUR4.8 million). Ronald Slabke believes that this solid performance will be sustained in the coming months: “We anticipate a further increase in our market share during the fourth quarter of 2016. For 2016 as a whole and for 2017, we continue to expect revenue and earnings growth to be just into double figures.”
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2016-10-31 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| 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 | |
| Indices: | SDAX | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange | |
| End of News | DGAP News Service |