DGAP-News: Hypoport AG / Key word(s): Half Year Results Press release Financial results for the first half of 2017 Hypoport builds on its successful start to the year - Revenue rises by 29 per cent to EUR95 million - EBIT increases by 20 per cent to EUR13 million - Significantly faster revenue growth than in the market as a whole - The three established business units report the highest revenue for a first half year in the Company's history - New Insurance Platform business unit brings subsidiaries together under the Smart InsurTech umbrella brand
Berlin, 7 August 2017: In the first half of 2017, technology-based financial service provider Hypoport achieved significant double-digit growth in both revenue and earnings compared with the prior-year period. The revenue of the Group as a whole climbed by 29 per cent to EUR95.3 million (H1 2016: EUR73.7 million). Earnings before interest and tax (EBIT) advanced by 20 per cent to EUR13.4 million (H1 2016: EUR11.1 million). Thanks to this strong operating performance, earnings per share (EPS) went up by 24 per cent to EUR1.78 (H1 2016: EUR1.44). "The Hypoport Group generated significant increases in revenue and earnings even though the overall market volume only held steady. We were encouraged to see revenue growth across all four of our business units, Credit Platform, Private Clients, Institutional Clients and Insurance Platform, which underlines the strength of our business models," explains Ronald Slabke, Chief Executive Officer of Hypoport AG. In the Credit Platform business unit, revenue rose by 19 per cent to EUR37.8 million (H1 2016*: EUR31.8 million) and EBIT by 13 per cent to EUR7.8 million (H1 2016*: EUR6.9 million). The Private Clients business unit reported revenue of EUR39.9 million (H1 2016*: EUR33.2 million), which equates to growth of 20 per cent. This growth was achieved thanks to a 9 per cent rise in the number of advisors to 529 and increased the business unit's share of the market. EBIT advanced at the even faster rate of 27 per cent to reach EUR6.0 million (H1 2016*: EUR4.7 million). In the Institutional Clients business unit, revenue amounted to EUR10.8 million (H1 2016: EUR7.9 million) thanks to robust demand for brokerage of new loans. This represents a year-on-year rise of 36 per cent. EBIT jumped by 60 per cent to EUR3.5 million. The business unit therefore continued and built on the positive performance from the second half of last year, which had followed a relatively quiet start to 2016. The new Insurance Platform business unit successfully finished integrating the acquired companies and bringing them together under the Smart InsurTech umbrella brand in the first half of 2017. As a result, Hypoport now offers a fully integrated digital platform for large distribution organisations and insurance brokers. This is the first one-stop solution for this target group that offers advice, product comparisons and the administration of insurance contracts on a central platform. As planned, the new business unit focused on increasing its market share in the first six months of 2017. While revenue increased to EUR7.2 million (H1 2016: EUR1.2 million), EBIT amounted to a planned small start-up loss of EUR0.3 million (H1 2016: EUR0.0 million). "Despite fairly subdued market conditions, we were able to build on the strong first quarter of 2017 in the past few months, with our performance in the half-year period living up to our expectations," concludes Ronald Slabke. "Our Credit Platform, Private Clients and Institutional Clients business units are operating successfully in what is a highly attractive market environment for mortgage finance. What's more, our new Insurance Platform business unit has great potential for generating further growth for the Company in the insurance sector, which is still going through the process of digitalisation. We are therefore reiterating our forecast for 2017 as a whole that the Hypoport Group will achieve percentage increases for both revenue and earnings of just into double figures." *All figures for the prior-year period have been restated to reflect the new segment reporting. Information on Hypoport AG Key data on Hypoport's shares
07.08.2017 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 |
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