01.08.2016
Hypoport AG DE0005493365
DGAP-News: Hypoport reports the best half-year results in its history
DGAP-News: Hypoport AG / Key word(s): Half Year Results
Hypoport reports the best half-year results in its history
01.08.2016 / 07:36
The issuer is solely responsible for the content of this announcement.
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Press release
Preliminary financial results for the first half of 2016
Hypoport reports the best half-year results in its history
Berlin, 1 August 2016: Technology-based financial service provider Hypoport
again generated record results in the first half of 2016. Consolidated
revenue rose by 9 per cent to EUR73.7 million (H1 2015: EUR67.5 million),
and growth in earnings before interest and tax (EBIT) was well into double
digits, with a rise of 22 per cent to EUR11.1 million (H1 EUR9.1 million).
"We achieved these record results partly thanks to the current market
situation - but mostly in spite of it," said Ronald Slabke, Chief Executive
Officer of Hypoport AG. He went on to explain: "Demand for housing is high
and financing terms are attractive. What remains absent is a political
environment in which new-build projects are quickly brought to fruition.
The government's latest attempts to create more housing, e.g. through tax
relief, were not only dragged down by party politics but also fundamentally
failed to effectively tackle the essence of the problem. Moreover, many
participants in the property finance market were held back by the
implementation of the Mortgage Credit Directive (MCD) in the period March
to May." In this environment, Hypoport succeeded in gaining further market
share and using these new regulations as an opportunity.
The Financial Service Providers business unit offers legally compliant
integration of the MCD into EUROPACE BaufiSmart, thereby providing the
ideal solution for new and existing partners to deal with the regulations.
The marketplace model demonstrated its clear superiority here, with
EUROPACE once more gaining significant market share in the first half of
the year. Despite expanding its distributor resources and incurring
additional expenses in connection with the implementation of the Mortgage
Credit Directive, the business unit generated its best-ever revenue and
earnings figures. In the first six months of 2016, the Financial Service
Providers business unit reported revenue of EUR24.0 million (H1 2015:
EUR20.5 million). EBIT was up significantly year on year at EUR5.7 million
(H1 2015: EUR5.1 million).
Despite the MCD, the Private Clients business unit's mortgage finance
business also grew faster than the market as a whole The differing
interpretation of the MCD among banks has further increased the importance
of non-captive home loan specialists for consumers. The business unit also
increased the volume of personal loans. Dr. Klein personal loan experts
help partners to advise customers as part of offline alliances. This trend,
combined with the expansion of the advisor network and increased
productivity, contributed to the business unit also achieving its most
successful half year. In the period January to June 2016, it generated
revenue of EUR42.2 million (H1 2015: EUR39.3 million). Strong productivity
gains for advisors and increased contributions to revenue from the personal
loans business resulted in a rise in revenue of 7 per cent. Combined with
the fact that the negative impact on earnings from the insurance business
no longer applies, this resulted in a 41 per cent jump in earnings, which
rose to EUR5.0 million (H1 2015: EUR3.5 million).
The Corporate Real Estate Clients business unit posted solid results in
line with normal volatility experienced during the course of a year.
Preparations for many new-build projects can be seen, but their actual
implementation is being significantly affected by the political
environment. Steadily falling interest rates did not provide much in the
way of stimulus. Consequently, there was a year-on-year decrease in the
volume of new lending brokered, but the healthy conversion rate for new
loans brokered enabled revenue to hold steady at EUR7.9 million (H1 2015:
EUR8.1 million). Capital expenditure on developing the new business models
meant that EBIT was down on the first half of 2015 (EUR2.2 million compared
with EUR2.9 million).
The Management Board's forecasts for the second half of the year are
positive: "We expect to further increase our market share. Despite the
various uncertainties in and around our main markets, we are confident that
we will be able to convert the challenges that arise into opportunities.
For 2016 as a whole, we continue to forecast revenue and earnings growth
that is just into double digits, both at Group level and in the three
business units." said Ronald Slabke, Chief Executive Officer of Hypoport
AG.
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 about
750 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
Michaela Reimann
Head of Group Communications
Hypoport AG
Klosterstraße 71
D-10179 Berlin
Tel.: +49 (0)30 / 42086-1936
Fax: +49 (0)30 / 42086-1999
E-Mail: [email protected]
www.hypoport.de
Twitter: http://twitter.com/Hypoport
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01.08.2016 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,
Tradegate Exchange
End of News DGAP News Service
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488039 01.08.2016
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