DGAP-News: Hypoport AG / Key word(s): 9-month figures/Preliminary Results Press release Preliminary figures for the 2017 nine-month results Hypoport: Preliminary figures for the nine-month results confirm the Group's strong growth - Total revenue of EUR143 to EUR144 million and EBIT of nearly EUR19 million expected for Q1-Q3 2017 - Revenue and earnings growth for Credit Platform and Private Clients business units in double figures - Revenue and EBIT in the Institutional Clients business unit show negative development for Q3 2017 - Strong revenue growth in the Insurance Platform business unit with the negative EBIT that had been expected Berlin, 20 October 2017: The preliminary financial results of Hypoport AG for the first nine months of 2017, which were analysed at today's meeting of the Management Board, show revenue of EUR143 to EUR144 (Q1-Q3 2016: EUR113.5 million), and EBIT of nearly EUR19 million (Q1-Q3 2016: EUR17.0 million). In the first nine months of 2017, the Credit Platform business unit generated revenue of more than EUR57 million (Q1-Q3 2016*: EUR48.9 million), an increase of around 17 per cent, and EBIT of nearly EUR12 million (Q1-Q3 2016*: EUR10.6 million; an increase of approx. 10 per cent). Revenue of more than EUR61 million (Q1-Q3 2016*: EUR50.5 million) is expected over the same period for the Private Clients business unit, an increase of around 22 per cent. EBIT in this business unit rose at an even stronger rate of around 30 per cent, reaching more than EUR9 million (Q1-Q3 2016: EUR7.2 million). Due to weaker revenue and higher costs incurred in connection with digitalisation and the expansion of the sales network, the Institutional Clients business unit is expected to generate revenue of nearly EUR4 million in the third quarter of 2017 (Q3 2016: EUR4.0 million) and EBIT of approximately EUR0.5 million (Q3 2016: EUR1.4 million). For the first nine months of 2017, Hypoport predicts revenue of more than EUR14 million (Q1-Q3 2016: EUR11.9 million) and EBIT of around EUR4 million (Q1-Q3 2016: EUR3.6 million). The newest business unit, Insurance Platform, looks set to have significantly increased revenue in the first nine months of 2017 from a low starting point in 2016 to a predicted level of nearly EUR11 million (Q1-Q3 2016*: EUR2.9 million) and, as a result of the substantial capital expenditure, is likely to report a negative EBIT of around nearly EUR1 million (Q1-Q3 2016*: positive EBIT of EUR0.1 million), as expected. Ronald Slabke is extremely satisfied with the performance of the Credit Platform, Private Clients and Insurance Platform business units. With regard to the slightly weaker performance in the Institutional Clients unit, he commented, "Institutional Clients is traditionally our most volatile business unit because of its high-volume individual transactions. Having achieved very good revenue figures in this business unit every quarter since the fourth quarter of 2016, we were unable to hit this high level again in Q3 2017. Therefore the permanent expansion of our sales network and the digitalisation of our business model are very important for this business unit." All figures are provisional. Hypoport AG will be publishing its final financial results for the first nine months of 2017 as planned on 30 October this year. * Prior year figures adjusted; see disclosures in the consolidated financial statements on the comparability of prior-year figures. Information on Hypoport AG
20.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Hypoport AG |
Klosterstraße 71 | |
10179 Berlin | |
Germany | |
Phone: | +49/30 42086-0 |
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, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
621023 20.10.2017