HYPOPORT SE Press release
Financial results for the third quarter of 2014Hypoport continues successful 2014
Berlin, 3 November 2014: Online financial service provider Hypoport continued its successful year to date in the third quarter of 2014. Its revenue for the first nine months of this year rose to €81.3 million, while its earnings before interest and tax came to €6.0 million.
"The period from early July to the end of September saw our market continue to be affected by historically low interest rates and the disruption caused by the reorganisation of financial services in Germany. We are therefore especially pleased that we have managed to continue on our successful year-to-date trajectory and that our earnings after just nine months have already exceeded the figure reported for the whole of 2013," commented Ronald Slabke, Chief Executive Officer, on the Company's financial results. The revenue generated by Hypoport AG in the first three quarters of 2014 rose by 9.9 per cent year on year to €81.3 million (Q1-Q3 2013: €74.0 million). Earnings before interest and tax (EBIT) jumped to €6.0 million in the first nine months of this year (Q1-Q3 2013: €4.1 million).
"Despite the availability of attractive lending rates, there has been no growth in the total value of Germany's mortgage finance market. The expansion of the loan brokerage market has been constrained by the limited supply of real estate in popular locations," was how Slabke summarised the situation, adding: "Nonetheless, our mortgage-finance business with private clients is growing. We are constantly winning further market share on the back of the superior technology used by our EUROPACE platform and the comprehensive advisory services provided for our private clients by Dr. Klein."
The Private Clients business unit substantially expanded the volume of new loans brokered in the first nine months of 2014 by 15.7 per cent year on year to €4.7 billion and it generated revenue of €48.1 million. Buoyed by ongoing efficiency enhancements in its insurance segment, which was hampered by market disruption, this business line managed to build on its profitable start to the year, reporting EBIT of €1.6 million.
The volume of transactions processed by the Financial Service Providers business unit hit a new record of €9.6 billion in the third quarter of 2014. This segment raised its revenue to €23.2 million and its EBIT made a further significant contribution (€4.4 million) to the Hypoport Group's earnings for the first nine months of 2014.
Management Board: | Supervisory Board: | Berlin-Charlottenburg |
Ronald Slabke (CEO), | Dr Ottheinz Jung-Senssfelder (chairman), | local court |
Stephan Gawarecki, | Professor Dr Thomas Kretschmar (deputy chairman), | HRB 74559 |
Hans Peter Trampe, Thilo Wiegand | Christian Schröder | VAT reg. no.: |
DE207938067 | ||
Website: | ||
www.hypoport.com |
The revenue generated by the Institutional Clients business unit in the first nine months of 2014 advanced by 9.7 per cent to €10.2 million, and this growth was supported by much higher revenue from consulting services in the third quarter. This business line delivered a solid operating performance, reporting EBIT of €3.1 million in line with the comparative prior-year figure.
Taken together, the financial results achieved in the first nine months of the year confirm that Hypoport is on the right track with its forecast for 2014 as a whole, for which the Company's CEO continues to expect double-digit revenue growth and earnings above the record levels seen in 2010 and 2011.
As an independent financial product distributor that runs a B2B financial marketplace, Hypoport operates successfully in two mutually reinforcing segments. It always provides the simplest access to the best financial services. Europace AG - a wholly owned Hypoport subsidiary - develops and operates EUROPACE, which is an online financial marketplace and the largest German platform offering mortgages, building finance products and personal loans. A fully integrated system links 250 partners - banks, insurers and financial product distributors. Several thousand users execute over 20,000 transactions worth a total of up to €3 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 investment products. Dr. Klein & Co. AG has been a major financial service partner to housing companies, local authorities 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.
Contact:Hypoport AG
Sven Westmattelmann
Communications Manager
Tel.: +49 (0)30 42086 1935
Mobile: +49 (0)151 5802 7993
Email: mailto:presse@hypoport.depresse@hypoport.de
Website: www.hypoport.com
Key data on Hypoport's sharesISIN DE 0005493365
WKN 549336
Stock exchange symbol HYQ
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