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06.05.2024 07:10:29 - dpa-AFX: EQS-News: Hypoport gets 2024 underway with double-digit growth (english)
Hypoport gets 2024 underway with double-digit growth
EQS-News: Hypoport SE / Key word(s): Quarter Results
Hypoport gets 2024 underway with double-digit growth
06.05.2024 / 07:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Group results for Q1 2024
Hypoport gets 2024 underway with double-digit growth
* Consolidated revenue up 15 per cent year on year
* EBIT more than quadrupled to EUR4.3 million
* Mortgage finance business models particularly strong
Berlin, 6 May 2024: In the first quarter of 2024, the Hypoport Group
increased its revenue by 15 per cent compared with Q1 2023 to EUR107 million.
The growth was driven by the business models for mortgage finance in the
Real Estate & Mortgage Platforms segment.
A considerable rise in transaction volumes on the Europace, Finmas and
Genopace platforms and in sales volumes generated by Dr. Klein provided a
significant boost for revenue in the Real Estate & Mortgage Platforms
segment. Besides further increases in market share, this revenue growth came
on the back of an upturn in the market following a reduction in long-term
interest rates at the end of 2023, lower property prices and an increasingly
unattractive rental market, which is prompting many home seekers to more
seriously consider purchasing residential property. With higher revenue from
the property sales platform and lower revenue in the market for property
valuation - which remains challenging due to regulatory constraints and
fewer transactions - revenue for the segment as a whole came to EUR73 million
(up 24 per cent compared with Q1 2023).
Three different aspects shaped the performance of the Financing Platforms
segment. Despite a weak overall market, the housing industry subsegment
gained market share and generated double-digit revenue growth to get 2024
off to a good start. In the personal loans subsegment, the client base was
expanded, but ever more restrictive commercial banks and a weaker overall
market meant that revenue remained flat. In the corporate finance
subsegment, the volume of new projects decreased significantly in light of
the spending freeze for many government support programmes, more restrictive
lending by banks and postponements of corporate clients' investment plans.
Overall, therefore, the Financing Platform segment's revenue declined
marginally and was down by 6 per cent compared with the first quarter of
2023 to EUR17 million.
In the Insurance Platforms segment, the migration of the insurance
portfolios to the respective B2B platforms progressed in all three
subsegments (private insurance, occupational insurance and industrial
insurance), although the occupational insurance subsegment, centred around
the ePension platform, put in a particularly strong performance in the first
quarter of 2024 as a result of the clients acquired in 2023. Compared with
the first three months of 2023, the segment generated modest revenue growth
of 5 per cent to EUR18 million in a stable overall market.
Ronald Slabke, Chief Executive Officer of Hypoport SE, provided the
following assessment of the first quarter: "We have implemented a raft of
measures over the last 18 months in order to create added value, with a
particular focus on the mortgage finance market, which is currently
experiencing a phase of upheaval. The first fruits of this additional market
penetration are now coming through in strong revenue growth. The growth in
EBIT for the Group as a whole is finally demonstrating the scalability of
our platform business models once again."
About Hypoport SE
Hypoport SE is headquartered in Lübeck (Germany) and is the parent company
of the Hypoport Group. The Group is a network of technology companies for
the credit, housing and insurance industries with a workforce of more than
2,000 employees. It is structured in three operating segments: Real Estate &
Mortgage Platforms, Insurance Platforms and Financing Platforms.
The Real Estate & Mortgage Platforms segment operates Europace, which is an
online B2B lending marketplace and the largest German platform offering
mortgage finance. A fully integrated system links approximately 800 partners
- banks, building finance associations, insurers and financial product
distributors. Besides Europace, the joint ventures Finmas (Savings Banks
Finance Group), Genopace (Cooperative Financial Network), Starpool (Deutsche
Bank) and Baufinex (Bausparkasse Schwäbisch Hall) support the growth of the
credit marketplace in various target groups. Dr. Klein, the largest
franchise system for non-captive mortgage finance advice for consumers, is
also assigned to this segment. Moreover, the Qualitypool brokerage pool, the
FIO property sales platform for bank-affiliated estate agents and the Value
AG property valuation platform are a key part of the value chain for
homebuyers.
The Financing Platforms segment comprises all technology and advisory
companies in the Hypoport Group that cover finance products other than
mortgage finance. It has a particular focus on finance for the housing
industry (Dr. Klein WoWi and FIO Finance), corporate finance (REM Capital)
and personal loans (Europace).
In the Insurance Platforms segment, Smart Insur provides a web-based B2B
platform for insurance products with variable pricing for private
individuals and small businesses, supported by the Qualitypool brokerage
pool and the underwriter Sia. The segment also includes ePension, a platform
for occupational insurance products, and Corify, a platform for the
tendering and management of industrial insurance policies.
The shares of Hypoport SE are listed in the Prime Standard segment of the
Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX
or MDAX indices since 2015.
Contact:
Jan H. Pahl
Head of Investor Relations // IRO
Tel: +49 (0)30 42086 1942
Mobile: +49 (0)176 9651 2519
Email: ir@hypoport.de
Hypoport SE
Heidestrasse 8
10557 Berlin, Germany
www.hypoport.com
2024 financial calendar:
6 May 2024: Interim management statement for the first quarter of 2024
12 August 2024: Report for the first half of 2024
11 November 2024: Interim management statement for the third quarter of 2024
---------------------------------------------------------------------------
06.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1895647 06.05.2024 CET/CEST
EQS-News: Hypoport SE / Key word(s): Quarter Results
Hypoport gets 2024 underway with double-digit growth
06.05.2024 / 07:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Group results for Q1 2024
Hypoport gets 2024 underway with double-digit growth
* Consolidated revenue up 15 per cent year on year
* EBIT more than quadrupled to EUR4.3 million
* Mortgage finance business models particularly strong
* Forecast for 2024 of revenue of at least EUR400 million and EBIT of
between EUR10 million and EUR20 million confirmed
Berlin, 6 May 2024: In the first quarter of 2024, the Hypoport Group
increased its revenue by 15 per cent compared with Q1 2023 to EUR107 million.
The growth was driven by the business models for mortgage finance in the
Real Estate & Mortgage Platforms segment.
A considerable rise in transaction volumes on the Europace, Finmas and
Genopace platforms and in sales volumes generated by Dr. Klein provided a
significant boost for revenue in the Real Estate & Mortgage Platforms
segment. Besides further increases in market share, this revenue growth came
on the back of an upturn in the market following a reduction in long-term
interest rates at the end of 2023, lower property prices and an increasingly
unattractive rental market, which is prompting many home seekers to more
seriously consider purchasing residential property. With higher revenue from
the property sales platform and lower revenue in the market for property
valuation - which remains challenging due to regulatory constraints and
fewer transactions - revenue for the segment as a whole came to EUR73 million
(up 24 per cent compared with Q1 2023).
Three different aspects shaped the performance of the Financing Platforms
segment. Despite a weak overall market, the housing industry subsegment
gained market share and generated double-digit revenue growth to get 2024
off to a good start. In the personal loans subsegment, the client base was
expanded, but ever more restrictive commercial banks and a weaker overall
market meant that revenue remained flat. In the corporate finance
subsegment, the volume of new projects decreased significantly in light of
the spending freeze for many government support programmes, more restrictive
lending by banks and postponements of corporate clients' investment plans.
Overall, therefore, the Financing Platform segment's revenue declined
marginally and was down by 6 per cent compared with the first quarter of
2023 to EUR17 million.
In the Insurance Platforms segment, the migration of the insurance
portfolios to the respective B2B platforms progressed in all three
subsegments (private insurance, occupational insurance and industrial
insurance), although the occupational insurance subsegment, centred around
the ePension platform, put in a particularly strong performance in the first
quarter of 2024 as a result of the clients acquired in 2023. Compared with
the first three months of 2023, the segment generated modest revenue growth
of 5 per cent to EUR18 million in a stable overall market.
Ronald Slabke, Chief Executive Officer of Hypoport SE, provided the
following assessment of the first quarter: "We have implemented a raft of
measures over the last 18 months in order to create added value, with a
particular focus on the mortgage finance market, which is currently
experiencing a phase of upheaval. The first fruits of this additional market
penetration are now coming through in strong revenue growth. The growth in
EBIT for the Group as a whole is finally demonstrating the scalability of
our platform business models once again."
(EUR million) Q1 Q1 Q1
2024 2023 change
Revenue 107.5 93.7 15%
thereof Real Estate & Mortgage Platfoms 72.8 58.9 24%
thereof Financing Platforms 17.3 18.3 -6%
thereof Insurance Platforms 17.7 16.8 5%
thereof Holding & Reconciliation -0.3 -0.2 -15%
Gross profit 57.0 52.2 9%
EBITDA 13.0 9.4 38%
EBIT 4.3 0.8 431%
Net profit 3.0 0.2 1,195%
Earnings per share in Euro 0.45 0.08 463%
About Hypoport SE
Hypoport SE is headquartered in Lübeck (Germany) and is the parent company
of the Hypoport Group. The Group is a network of technology companies for
the credit, housing and insurance industries with a workforce of more than
2,000 employees. It is structured in three operating segments: Real Estate &
Mortgage Platforms, Insurance Platforms and Financing Platforms.
The Real Estate & Mortgage Platforms segment operates Europace, which is an
online B2B lending marketplace and the largest German platform offering
mortgage finance. A fully integrated system links approximately 800 partners
- banks, building finance associations, insurers and financial product
distributors. Besides Europace, the joint ventures Finmas (Savings Banks
Finance Group), Genopace (Cooperative Financial Network), Starpool (Deutsche
Bank) and Baufinex (Bausparkasse Schwäbisch Hall) support the growth of the
credit marketplace in various target groups. Dr. Klein, the largest
franchise system for non-captive mortgage finance advice for consumers, is
also assigned to this segment. Moreover, the Qualitypool brokerage pool, the
FIO property sales platform for bank-affiliated estate agents and the Value
AG property valuation platform are a key part of the value chain for
homebuyers.
The Financing Platforms segment comprises all technology and advisory
companies in the Hypoport Group that cover finance products other than
mortgage finance. It has a particular focus on finance for the housing
industry (Dr. Klein WoWi and FIO Finance), corporate finance (REM Capital)
and personal loans (Europace).
In the Insurance Platforms segment, Smart Insur provides a web-based B2B
platform for insurance products with variable pricing for private
individuals and small businesses, supported by the Qualitypool brokerage
pool and the underwriter Sia. The segment also includes ePension, a platform
for occupational insurance products, and Corify, a platform for the
tendering and management of industrial insurance policies.
The shares of Hypoport SE are listed in the Prime Standard segment of the
Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX
or MDAX indices since 2015.
Contact:
Jan H. Pahl
Head of Investor Relations // IRO
Tel: +49 (0)30 42086 1942
Mobile: +49 (0)176 9651 2519
Email: ir@hypoport.de
Hypoport SE
Heidestrasse 8
10557 Berlin, Germany
www.hypoport.com
2024 financial calendar:
6 May 2024: Interim management statement for the first quarter of 2024
12 August 2024: Report for the first half of 2024
11 November 2024: Interim management statement for the third quarter of 2024
---------------------------------------------------------------------------
06.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: Hypoport SE
Heidestraße 8
10557 Berlin
Germany
Phone: +4930420861942
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,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1895647
End of News EQS News Service
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1895647 06.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
HYPOPORT SE NA O.N. | 549336 | Xetra | 321,200 | 23.05.24 17:43:36 | +6,400 | +2,03% | 0,000 | 0,000 | 316,000 | 314,800 |
