Hypoport SE
Hypoport makes excellent start to 2017
DGAP-News: Hypoport AG / Key word(s): Quarter Results Press release Financial results for the first quarter of 2017 Hypoport makes excellent start to 2017 “Overall, we enjoyed a very good first quarter in a stable market environment. We started 2017 by significantly widening our market share for all business models in the mortgage finance market,” says Ronald Slabke, Chief Executive Officer of Hypoport AG. The Hypoport Group also expanded its activities in the insurance market. “The organic growth and acquisitions relating to our newest business model, the insurance platform, made a sizeable contribution to the Group’s revenue. The new Insurance Platform business unit now brings together all subsidiaries aimed at generating growth on the basis of insurance technology,” adds Stephan Gawarecki, the member of the Management Board responsible for expansion into this new market segment. At the same time, the former Financial Service Providers business unit was redefined and renamed Credit Platform. This business unit brings together all activities that directly serve to gain partners and thus generate growth for the credit platform. The focus on expanding sales capability led to a sharp rise in the number of partners and the volume of transactions in the first quarter of 2017. Revenue climbed by 27 per cent to EUR18.5 million (Q1 2016*: EUR14.6 million). EBIT advanced by 19 per cent to EUR3.8 million (Q1 2016*: EUR3.2 million). The Private Clients business unit brings together all Hypoport business models aimed directly at consumers. Customers’ confidence in Hypoport and the expansion and efficient use of sales capacity in branch-based sales resulted in revenue growth that was well into double figures, with revenue up by 24 per cent to EUR20.4 million (Q1 2016*: EUR16.5 million). The business unit generated EBIT of EUR3.3 million (Q1 2016*: EUR2.4 million), an above-average increase of 37 per cent that was thanks to successful exploitation of the significant expansion of advisory resources in 2016. The Institutional Clients business unit made a strong start to 2017 in what is usually a fairly quiet first quarter. Many financing projects initiated in the previous quarter were converted into deals in the first three months of the year. The results for the quarter were also boosted by high-volume deals. Consequently, revenue grew by 27 per cent to EUR5.3 million (Q1 2016: EUR4.2 million) while EBIT was up by 25 per cent to EUR1.7 million (Q1 2016: EUR1.4 million). Following this strong opening quarter, Ronald Slabke confirms the forecast for the remainder of 2017: “We still anticipate slight structural growth in the housing market. This, combined with the unstoppable drive for digitalisation in the mortgage finance and insurance sectors, will bolster the Hypoport Group’s growth. We therefore continue to expect revenue and earnings growth for 2017 as a whole to be just into double figures.” *All figures for the prior-year period have been restated to reflect the new segment reporting.
About Hypoport AG The Credit Platform business unit operates EUROPACE, which is an online financial marketplace and the largest German software platform offering mortgages, building finance products and personal loans. A fully integrated system links more than 400 partners – banks, insurers and financial product distributors. Several thousand loan brokerage advisors execute some 35,000 transactions per month on EUROPACE, generating a volume of around EUR4 billion. Besides EUROPACE, the FINMAS and GENOPACE sub-marketplaces and the B2B distribution companies Qualitypool and Starpool support the growth of the credit platform. Hypoport AG is headquartered in Berlin, Germany, and has around 850 employees. Its shares are listed in the Prime Standard segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX since 2015. Contact Key data on Hypoport’s shares
04.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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 |