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EQS-News: Hypoport SE / Key word(s): Quarter Results
Hypoport gets 2024 underway with double-digit growth
2024-05-06 / 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% 

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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

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2024-05-06 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

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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 2024-05-06 CET/CEST

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May 06, 2024 01:10 ET (05:10 GMT)