02.05.2016
Hypoport AG DE0005493365
DGAP-News: Hypoport starts 2016 with revenue growth and a jump in EBIT
DGAP-News: Hypoport AG / Key word(s): Quarter Results
Hypoport starts 2016 with revenue growth and a jump in EBIT
02.05.2016 / 07:56
The issuer is solely responsible for the content of this announcement.
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Press release
Preliminary financial results for the first quarter of 2016
Hypoport starts 2016 with revenue growth and a jump in EBIT
Berlin, 2 May 2016: Technology-based financial service provider Hypoport
has begun this year with the strongest first quarter in its history.
Consolidated revenue was up by 7 per cent, rising to EUR35.7 million (Q1
2015: EUR33.3 million). Earnings before interest and tax (EBIT) jumped by
42 per cent to EUR5.4 million (Q1 2015: EUR3.8 million) and earnings per
share increased by 40 per cent to EUR0.70 (Q1 2015: EUR0.50).
"We achieved this outstanding result despite the fact that the
implementation of new regulations in the mortgage finance market arising
from the Mortgage Credit Directive (MCD) has tied up resources for us and
for banks and partners, and had a negative impact on new business," said
Ronald Slabke, Chief Executive Officer of Hypoport AG.
In its Financial Service Providers business unit, the transaction volume of
EUR10.4 billion was slightly down on the prior-year quarter (Q1 2015:
EUR11.1 billion), largely due to the introduction of the MCD to regulate
the lending market. At the same time, the business unit successfully
completed the development of the new BaufiSmart front end - the biggest IT
project in its history. The unit has also expanded its distribution
capability and has secured a total of 15 new partners since the beginning
of the year. Even in this difficult environment, the business unit remained
on a growth trajectory, with revenue for the quarter rising to EUR10.8
million (Q1 2015: EUR10.1 million). Despite these factors and the expansion
in distribution capacity, EBIT remained unchanged year on year at EUR2.5
million (Q1 2015: EUR2.5 million).
The Private Clients business unit also had to deal with the MCD. Focusing
on product suppliers that were not held back by the Mortgage Credit
Directive meant that the business unit was still able to further expand its
share of the mortgage finance market. The business unit generated revenue
of EUR20.9 million (Q1 2015: EUR19.4 million) - its best-ever quarterly
result. The full migration to EUROPACE BaufiSmart also led to efficiency
gains for its current team of 476 advisors (31 December 2015: 437). This,
combined with lower losses from the insurance business, enabled the
business unit to report a significant jump in EBIT of 117 per cent to
EUR2.5 million (Q1 2015: EUR1.2 million).
Market conditions were stable for the Corporate Real Estate Clients
business unit in the first quarter. The housing industry's government brief
to create more housing is significantly increasing the number of potential
new customers in the business development pipeline. At EUR371 million, the
volume of new business brokered in the first quarter of 2016 was down on
the corresponding period of last year (Q1 2015: 492 million), reflecting
the normal pattern of volatility during the year. However, complex, one-off
lending transactions generated exceptionally high income, enabling revenue
to grow by 7 per cent to EUR4.2 million (Q1 2015: EUR3.9 million). Earnings
were also up, rising to EUR1.4 million (Q1 2015: EUR1.3 million).
"Overall, we enjoyed a good first quarter in a market held back by
regulation," said Slabke, adding: "We expect the lending market to
normalise as the year progresses and we are looking to the future with
confidence. Structural growth in the housing market and the pressure for
financial services to go digital will also help us to continue expanding
our market share. That is why, following a strong start to 2016 and despite
the uncertainty created by regulation, we continue to forecast revenue and
earnings growth for 2016 as a whole that is just into double digits, both
at Group level and in the three business units."
About Hypoport AG
The Hypoport Group is a technology-based financial service provider. The
business model is based on its three mutually supporting business units:
Private Clients, Financial Service Providers, and Institutional Clients.
All three units are engaged in the distribution of financial services,
facilitated or supported by finance-technology ('fintech').
As a wholly-owned subsidiary of Hypoport, Europace AG develops and operates
the web-based EUROPACE financial marketplace, which is Germany's largest
platform for mortgages, building finance products and personal loans. A
fully integrated system links more than 350 partners - banks, insurers and
financial product distributors. Several thousand users execute some 35.000
transactions worth a total of up to EUR4 billion on EUROPACE every month.
The Hypoport subsidiary Dr. Klein & Co. AG is an independent online
distributor of financial products. This firm's specialists provide private
clients with a full range of advisory services around mortgage finance,
insurance and retirement planning. Dr. Klein & Co. AG has been a major
financial service partner to housing companies and commercial property
investors since 1954. Hypoport AG is headquartered in Berlin, employs more
than 500 people and is listed in the Prime Standard of the Frankfurt Stock
Exchange. At the end of 2015 Hypoport was admitted to the SDAX.
Contact:
Christian Würdemann
Investor Relations
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: [email protected]
Internet: www.hypoport.de
Twitter: http://twitter.com/Hypoport
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02.05.2016 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.
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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: [email protected]
Internet: www.hypoport.de
ISIN: DE0005493365
WKN: 549336
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart
End of News DGAP News Service
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