Interim statement of Hypoport SE for the period ended 31 Mar 2024

Keyperformance indicators

Revenue and earnings (€'000)	Q1 2024	Q1 2023	Change
Revenue	107,469	93,716	15%
thereof Real Estate & Mortgage Platforms	72,788	58,910	24%
thereof Financing Platforms	17,261	18,269	– 6%
thereof Insurance Platforms	17,687	16,769	5%
thereof Holding & Reconciliation	– 267	– 232	– 15%
Gross profit	57,022	52,229	9%
thereof Real Estate & Mortgage Platforms	34,072	28,938	18%
thereof Financing Platforms	14,709	15,654	– 6%
thereof Insurance Platforms	7,951	7,404	7%
thereof Holding & Reconciliation	290	233	24%
EBITDA	13,028	9,415	38%
EBIT	4,299	810	431%
thereof Real Estate & Mortgage Platforms	8,036	2,884	179%
thereof Financing Platforms	1,041	2,206	– 53%
thereof Insurance Platforms	183	– 456	– 140%
thereof Holding & Reconciliation	– 4,961	– 3,824	– 30%
EBIT margin (EBIT as a percentage of Gross profit)	7.5	1.6	386%
Net profit for the year	2,953	228	1.195%
attributable to Hypoport SE shareholders	3,041	503	505%
Earnings per share (€) (undiluted/diluted)	0.45	0.08	463%

Financial position (€'000)	31 Mar 2024	31 Dec 2023	Change
Current assets	149,188	174,264	– 14%
Non– current assets	452,314	451,510	0%
Equity	343,597	340,643	1%
attributable to Hypoport SE shareholders	341,646	338,604	1%
Equity ratio (%)	57.1	54.4	5%
Total assets	601,502	625,774	– 4%

Overview of business performance

The Hypoport Group made a positive start to 2024. Revenue in the Real Estate & Mortgage Platforms segment increased, with substantial revenue growth in private mortgage finance due to a considerable rise in transaction volumes (Europace, Finmas, Genopace) and sales volumes (Dr. Klein, Qualitypool). Besides the steady 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 making the purchase of residential property more attractive for many home seekers. With higher revenue from the property sales platform and lower revenue in the market for property valuation – which remains challenging from a regulatory perspective – revenue for the segment as a whole rose by 24 per cent compared with the first quarter of 2023 to €73 million.

Three different aspects shaped the performance of the Financing Platforms segment. Despite a weak overall market, the housing industry subsegment got off to a good start in 2024. Revenue rose by a double-digit percentage thanks to gains in market share. In the personal loans subsegment, we grew our client base, 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 segment's revenue declined marginally and was down by 6 per cent to €17 million.

The Insurance Platforms segment generated modest revenue growth of 5 per cent to €18 million in a stable overall market. The migration of the insurance portfolios to the B2B platforms progressed steadily in all three subsegments (private insurance, occupational insurance and industrial insurance). 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.

The Group's improved business performance is reflected in the key performance indicators for the first three months of 2024 compared with the first three months of 2023:

Revenue increased by 15 per cent to €107 million (Q1 2023: €94 million).
Gross profit rose by 9 per cent to €57 million (Q1 2023: €52 million).
EBITDA advanced by 38 per cent to €13 million (Q1 2023: €9.4 million).
EBIT jumped by over 400% to €4.3 million (Q1 2023: €0.8 million).
Net profit climbed by more than 500 per cent to €3 million (Q1 2023: €0.5 million).

Business performance in detail

The shared objective of all Hypoport companies is the digitalisation of the credit, housing and insurance industries in Germany. To this end, the decentralised subsidiaries of Hypoport SE, which operate largely independently, are grouped into three segments: Real Estate & Mortgage Platforms, Financing Platforms and Insurance Platforms.

Real Estate & Mortgage Platforms segment

The companies within the new Real Estate & Mortgage Platforms segment are primarily involved in the development of technology platforms for brokering, financing and valuing private residential properties.

This segment comprises the property sales platform of FIO Systems AG, Dr. Klein Privatkunden AG and Vergleich.de Gesellschaft für Verbraucherinformation mbH, the property finance activities of Europace AG, Genopace GmbH, Baufinex GmbH and Finmas GmbH, the finance activities of Qualitypool GmbH and Starpool Finanz GmbH (together: property financing platforms) and the property valuation platform Value AG.

The focus for the property sales platform was again on acquiring new clients and expanding the platform offering for large bank-affiliated estate agents. The total value of all properties sold via the platform was around €2.5 billion in the first quarter of 2024, a rise of 5 per cent compared with the same quarter in the prior year.

The internet-based B2B lending marketplace Europace, the largest German marketplace for the sale of mortgage finance and building finance products, enjoyed a successful start to 2024, increasing its transaction volume by 17 per cent to €15 billion. In particular, distributors affiliated with the sub-marketplaces for institutions in the savings banks sector (Finmas) and for institutions in the cooperative banking sector (Genopace) increased their mortgage finance transaction volumes by 50 per cent to €2.3 billion and by 42 per cent to €3.6 billion respectively. The volume of new mortgage finance brokered by Dr. Klein stood at €1.7 billion in the first quarter of 2024, which was up by 20 per cent compared with the first quarter of 2023. The transaction volume of Qualitypool, a brokerage pool for mortgage finance, also saw double-digit growth, whereas the transaction volume of the Starpool brokerage pool was impacted by delayed effects of disruptions to back-office processes at our joint venture partner and fell compared with the first three months of 2023.

The value of residential properties inspected or appraised by VALUE AG amounted to €7.9 billion, which equated to a year-on-year fall of 3 per cent and was due to regulatory changes and the delayed recovery of the valuation market.

The greater volume of mortgage finance transactions in the first quarter of 2024 led to a doubledigit percentage increase in revenue compared with the first quarter of 2023. Furthermore, aligning the purchasing terms and conditions of Hypoport financial product distributors and integrating additional Europace partners in the purchasing network increased both revenue and selling expenses. The property sales platform also recorded a substantial rise in revenue, whereas the property valuation platform saw a double-digit percentage decline.

The segment's revenue advanced by 24 per cent overall to €73 million in the reporting period. The Hypoport Group's gross profit remaining after deduction of selling expenses (lead acquisition fees and commission paid to franchisees / to individual distributors affiliated with the poolers / purchasing network) went up by 18 per cent to €34 million. EBITDA rose by 87 per cent to €12 million and EBIT by 179 per cent to €8.0 million.

Financial figures – Real Estate & Mortgage Platforms	Q1 2024	Q1 2023	Change
Operative figures (€ billion)
Transaction volume mortgage finance Europace*	15.13	12.95	17%
thereof Finmas	2.28	1.53	50%
thereof Genopace	3.58	2.51	42%
thereof Dr. Klein private clients	1.65	1.37	20%
Transaction volume building finance Europace	1.62	2.13	– 24%
Value properties valued by property valuation platform	7.91	8.16	– 3%
Value properties sold via property sales platform	2.47	2.35	5%
Revenue and earnings (€ million)
Revenue	72.8	58.9	24%
Gross profit	34.1	28.9	18%
EBITDA	11.6	6.2	87%
EBIT	8.0	2.9	179%

* All figures relating to the volume of financial products sold (mortgage finance, building finance and personal loans) are stated before cancellations.

Financing Platforms segment

The Financing Platforms segment comprises all technology and distribution companies of the Hypoport Group that cover finance products outside the mortgage finance sector, with a particular focus on finance for the housing industry, corporate finance and personal loans.

This segment comprises Dr. Klein Wowi Finanz AG, Dr. Klein Wowi Digital AG, the activities of FIO Systems AG relating to the management of accounts holding tenants' security deposits, REM Capital AG, Fundingport GmbH, Hypoport B.V., Dr. Klein Ratenkredit GmbH, Genoflex GmbH and the personal loans business unit of Europace AG.

The business models in the housing industry subsegment fared well despite the weak market environment, which was characterised by a muted appetite for investment in the housing sector as a result of the interest-rate hikes of the last two years, soaring construction costs due to regulation and unattractive support programmes. The volume of new loans brokered on the property financing platform for the housing industry nonetheless came to €0.3 billion in the first quarter of 2024, equating to year-on-year growth of 14 per cent. Due to the acquisition of new clients, the portfolio of contracts on the property management platform for the housing industry swelled by more than 100,000 homes to around 313,000 homes as at 31 March 2024, a year-on-year increase of 51 per cent. The volume of rental deposits under management also rose to around €1.1 billion as at the end of the first quarter of 2024, which was 6 per cent higher than a year earlier.

The situation was very different in the corporate finance subsegment, where the volume of new projects at REM Capital fell by 13 per cent. This came amid a backdrop of closed support programmes as a result of the government's spending freeze, more restrictive lending by banks, postponements of clients' investment plans and the fact that support programmes offered by individual federal states, the German government and the EU have not been adapted to the latest climate goals and the challenges of the current crises.

The volume of transactions in the personal loans subsegment was up by 17 per cent compared with the first three months of 2023, but banks are becoming ever more restrictive, leading to higher rates of rejection and cancellation.

The higher volume of business in the housing industry subsegment in the first quarter of 2024 gave rise to double-digit revenue growth year on year. Whereas revenue in the personal loans subsegment held steady, the corporate finance subsegment's revenue contribution fell sharply. Overall, revenue for the segment as a whole came to €17 million, which was a slight decrease of 6 per cent. Gross profit fell in line with the decline in revenue to €15 million (down 6 per cent). In light of the business performance and with sustained high levels of capital expenditure, EBITDA fell by 30 per cent to €2.7 million and EBIT by 53 per cent to €1.0 million.

Financial figures – Financing Platforms	Q1 2024	Q1 2023	Change
Operative figures (€ billion)
Property sales platform Dr. Klein Wowi	0.33	0.29	14%
Number of homes managed through WoWi Digital ('000)	313.1	206.9	51%
Rental deposits under management	1.11	1.05	6%
Volume of personal loan transactions* Europace	1.65	1.41	17%
Volume of new SME financing business at REM Capital	0.27	0.31	– 13%
Revenue and earnings (€ million)
Revenue	17.3	18.3	– 6%
Gross profit	14.7	15.7	– 6%
EBITDA	2.7	3.8	– 30%
EBIT	1.0	2.2	– 53%

* All figures relating to the volume of financial products sold (mortgage finance, building finance and personal loans) are stated before cancellations.

Insurance Platforms segment

The Insurance Platforms segment develops platforms for insurance product distributors and B2C insurance companies in the market for insurance products with variable pricing for private individuals and (small) businesses, in the industrial insurance market and in the occupational insurance market.

This segment comprises Smart Insurance AG, the insurance activities of Qualitypool GmbH and AmexPool AG, Sia Digital GmbH, Corify GmbH, Oasis GmbH, ePension GmbH & Co. KG and E&P Pensionsmanagement GmbH.

In the private insurance subsegment, the volume of portfolios migrated from legacy systems to the SMART INSUR platform rose by 12 per cent compared with 31 March 2023 and amounted to €4.3 billion at the end of the first quarter. Running in parallel to the migration, the process to validate the policy database in cooperation with the insurance companies has been gathering pace since 2020. This validation is needed in order to be able to provide further added value, e.g. robo-advice. The validation rate of migrated policies rose slightly to over 32 per cent.

Further industrial insurance brokers have been signed up or have gone live on ePension, the platform for occupational insurance. As a result, the volume on the platform climbed by 52 per cent in the first quarter of 2024 compared with the same quarter of 2023 to stand at €0.2 billion.

In the industrial insurance business, Corify, the first marketplace for industrial insurance risk, was unveiled on schedule along with the first product applications in the second half of 2023. The first industrial insurance brokers were signed up as clients.

The revenue of all three subsegments rose in the first quarter of 2024 and revenue for the segment as a whole came to €18 million, which was an increase of 5 per cent. Whereas gross profit rose by 7 per cent compared with the first quarter of 2023, EBITDA soared by 81 per cent to €1.7 million. EBIT was in positive territory at €0.2 million in Q1 2024, having amounted to a loss of €0.5 million a year earlier.

Q1 2024	Q1 2023	Change

4.28	3.83	12%
36.1	30.4	19%
0.24	0.16	52%
0.1	0.0	-

17.7	16.8	5%
8.0	7.4	7%
1.7	0.9	81%
0.2	-0.5	140%

Financial position and financial performance

Earnings

Against the backdrop of the business performance described above, consolidated revenue went up by 15 per cent compared with Q1 2023 to stand at €107 million in the first quarter of 2024. Gross profit rose by 9 per cent to €57 million. Due to the relatively low increase in personnel expenses (up by 5 per cent to €42 million) and the slight fall in other operating expenses (down by 3 per cent to €10 million, EBITDA rose by 38 per cent to €13 million (Q1 2023: €9 million). Depreciation, amortisation expense and impairment losses rose marginally by 1 per cent to €9 million. Accordingly, EBIT improved substantially from €0.8 million to €4.3 million.

Balance sheet

The Hypoport Group's consolidated total assets as at 31 March 2024 amounted to €602 million, which was a little lower than the total as at 31 December 2023 (€626 million). Non-current assets were unchanged at €452 million, thanks to the combination of a slight decrease of 3 per cent in property, plant and equipment to €65 million – mainly as a result of a budgeted decrease in rental agreements and leasing-related right-of-use assets recognised in accordance with IFRS 16 – and a slight increase in deferred taxes from €22 million to €24 million. Non-current intangible assets were virtually unchanged at €352 million (31 December 2022: €351 million). They included goodwill, which was unchanged at €229 million, and development costs for the financial marketplaces, which continued to rise and stood at €102 million as at the reporting date (31 December 2023: €100 million). Other non-current assets were also more or less unchanged.

Current assets fell by 14 per cent to €149 million (31 December 2023: €174 million). This was mainly due to seasonally lower trade receivables and to lower cash and cash equivalents due to the repayment of liabilities to banks and trade payables.

The equity attributable to Hypoport SE shareholders as at 31 March 2024 was up by 1 per cent at €344 million on the back of the good business performance. The equity ratio rose from 54 per cent to 57 per cent.

The slight reduction in non-current liabilities to €167 million (31 December 2023: €171 million) stemmed from the budgeted fall in rental and lease liabilities recognised in accordance with IFRS 16 and lower non-current liabilities to banks of €104 million (31 December 2023: €109 million).

Current liabilities declined sharply by 20 per cent to €91 million owing to lower trade payables. Other current liabilities mainly comprised deferred income of €8 million (31 December 2023: €1 million), tax liabilities of €4 million (31 December 2023: €4 million) and bonus commitments of €3 million (31 December 2023: €5 million).

Total current and non-current liabilities to banks came to €124 million (31 December 2023: €130 million), declining as a result of the scheduled repayment of €5 million.

Cash flow

Despite the increase in EBIT, operating cash flow decreased slightly in the first quarter of 2024 compared with the first quarter of 2023, from €11 million to €10 million, mainly due to higher tax expenses. Including the increased amount of cash used for working capital (from minus €4 million to minus €6 million), the net cash generated by operating activities stood at €4 million in the first three months of 2024 (Q1 2023: €6 million).

The net cash used for investing activities of minus €17 million (Q1 2023: €8 million) increased by a total of €9 million primarily due to the acquisition of the remaining shares in ePension GmbH & Co. KG and E&P Pensionsmanagement.

The net cash used for financing activities of minus €8 million related to the scheduled repayment of bank loans in an amount of €5 million (Q1 2023: €4 million) and the repayment of rental liabilities in accordance with IFRS 16 in an amount of €3 million (Q1 2023 : €2 million).

As a result of the changes described above, cash and cash equivalents totalled €76 million as at 31 March 2024, which was down by €21 million compared with the end of 2023.

Employees

The Hypoport Group had 2,220 employees as at 31 March 2024 (31 March 2023: 2,217). The number of employees rose by 11 compared with the end of 2023 (31 December 2023: 2,209 employees).

Outlook

Our assessment of the sector-specific market environment for the three segments and the positioning of their business models for 2024 as a whole has not changed since we presented it in the 2023 annual report.

For the Hypoport Group as a whole, we thus continue to expect double-digit percentage growth in consolidated revenue to at least €400 million and EBIT of between €10 million and €20 million.

More detailed information can be found on pages 50 to 53 of the annual report.

and more than 3% by Nicolas Schulmann)

Shareholder structure and investor relations

Hypoport SE shareholder structure as at 30 April 2024:

Activities in the capital markets

The intensity of investor relations activities remained high in 2023 and in the year to date.

Event	Location	Date
Conference / roadshow	Lyon, London	Q1 2024
Conference	Frankfurt (3x), Hamburg, London, Lyon, Munich (2x), New York, Paris	2023
Roadshow	Boston, Ger/Aus/Swi, USA, UK	2023

Financial information

	Q1 2024 €'000	Q1 2023 €'000
Revenue	107,469	93,716
Commissions and lead costs	– 50,447	– 41,487
Gross profit	57,022	52,229
Own work capitalised	5,577	5,723
Other operating income	1,700	1,509
Personnel expenses	– 41,634	– 39,829
Other operating expenses	– 9,593	– 9,872
Income from companies accounted for using the equity method	– 44	– 345
Earnings before interest, tax, depreciation and amortisation (EBITDA)	13,028	9,415
Depreciation, amortisation expense and impairment losses	– 8,729	– 8,605
Earnings before interest and tax (EBIT)	4,299	810
Financial income	599	115
Finance costs	– 853	– 656
Earnings before tax (EBT)	4,045	269
Income taxes and deferred taxes	– 1,092	– 41
Net profit for the period	2,953	228
attributable to non– controlling interests	– 88	– 275
attributable to Hypoport SE shareholders	3,041	503
Earnings per share (€) (undiluted/diluted)	0.45	0.08

Consolidated income statement for the period 1 January to 31 March 2024

Consolidated statement of comprehensive income for the period 1 January 2024 to 31 March 2024

	Q1 2024 €'000	Q1 2023 €'000
Net profit for the period	2,953	228
Total income and expenses recognised in equity*)	0	0
Total comprehensive income	2,953	228
attributable to non-controlling interests	– 88	– 275
attributable to Hypoport SE shareholders	3,041	503

*) There was no income or expense to be recognised directly in equity during the reporting period.

Consolidated balance sheet as at 31 March 2024

Assets	31 Mar 2024 €'000	31 Dec 2023 €'000
Non– current assets
Intangible assets	351,910	351,094
Property, plant and equipment	65,352	67,272
Investments accounted for using the equity method	5,443	5,474
Financial assets	1,194	1,207
Trade receivables	3,778	4,254
Other assets	250	213
Deferred tax assets	24,387	21,996
	452,314	451,510
Current assets
Inventory	965	935
Trade receivables	59,302	65,588
Other assets	9,372	7,179
Income tax assets	3,907	3,904
Cash and cash equivalents	75,642	96,658
	149,188	174,264
	601,502	625,774
Equity and liabilities
Equity
Subscribed capital	6,872	6,872
Treasury shares	– 184	– 184
Reserves	334,958	331,916
	341,646	338,604
Non– controlling interests	1,951	2,039
	343,597	340,643
Non– current liabilities
Bank liabilities	103,699	108,805
Rental charges and operating lease expenses	43,460	44,686
Other liabilities	220	220
Deferred tax liabilities	19,556	17,203
	166,935	170,914
Current liabilities
Provisions	447	497
Bank liabilities	20,736	20,748
Rental charges and operating lease expenses	9,085	9,333
Trade payables	30,141	47,927
Current income tax liabilities	1,259	2,825
Other liabilities	29,302	32,887
	90,970	114,217
	601,502	625,774

Abridged consolidated statement of changes in equity for the three months ended 31 March 2024

Subscribed capital	Treasury shares	Capital reserves	Retained earnings	Equity attributable to Hypoport SE shareholders	Equity attributable to non-con trolling interests	Equity
						272,738

0	3	281	37	321	0	321
379	0	48,863	0	49,242	0	49,242

						2,200
0	0	0	503	503	– 275	228
6,872	–186	116,652	197,833	321,171	3,558	324,729
	6,493 0	– 189 0	67,508 0	197,293 0	271,105 0	1,633 2,200

2024 in €'000	Subscribed capital	Treasury shares	Capital reserves	Retained earnings	Equity attributable to Hypoport SE shareholders	Equity attributable to non-con trolling interests	Equity
Balance as at 1 January 2024	6,872	– 184	116,843	215,073	338,604	2,039	340,643
Dissemination of own shares	0	0	1	0	1	0	1
Total compre hensive income	0	0	0	3,041	3,041	– 88	2,953
Balance as at 31 March 2024	6,872	–184	116,844	218,114	341,646	1,951	343,597

	Q1 2024 €'000	Q1 2023 €'000
Earnings before interest and tax (EBIT)	4,299	810
Non– cash income / expense	– 280	1,236
Interest received	599	115
Interest paid	– 634	– 656
Income taxes paid	– 2,677	– 755
Change in deferred taxes	38	910
Income from companies accounted for using the equity method	44	345
Depreciation on non– current assets	8,729	8,605
Income from disponal of intangible assets and property, plant and equipment and financial assets	– 10	– 32
Cash flow	10,108	10,578
Increase / decrease in current provisions	– 50	– 49
Increase / decrease in inventories, trade receivables and other assets not attributable to investing or financing activities	4,502	12,128
Increase / decrease in trade payables and other liabilities not attributable to investing or financing activities	– 10,812	– 16,208
Change in working capital	–6,360	–4,129
Cash flows from operating activities	3,748	6,449
Payments to acquire property, plant and equipment / intangible assets	– 6,622	– 8,023
Cash outflows for acquisitions less acquired cash	– 9,922	0
Proceeds from disposals of property, plant and equipment/ Intangible assets	23	47
Cash flows from investing activities	–16,521	–7,976
Repayment of lease liabilities	– 2,522	– 2,408
Proceeds from the drawdown of financial loans	0	10,000
Redemption of bonds and loans	– 5,119	– 4,055
Contributions from non-controlling interests	– 602	2,200
Proceeds from capital increases	0	50,000
Payments for issuing costs	0	– 1,099
Cash flows from financing activities	–8,243	54,638
Net change in cash and cash equivalents	– 21,016	53,111
Cash and cash equivalents at the beginning of the period	96,658	29,947
Cash and cash equivalents at the end of the period	75,642	83,058

Consolidated cash flow statement for the period period 1 January 2024 to 31 March 2024

Abridged segment reporting for the period 1 January to 31 March 2024

€'000	Real Estate & Mortgage Platforms	Financing Platforms	Insurance Platforms		Holding Reconciliation	Group
Segment revenue in respect of third parties	72,434	17,154	17,591	290	0	107,469
Q1 2023	58,615	18,184	16,684	233	0	93,716
Segment revenue in respect of other segments	354	107	96	6,512	–7,069	0
Q1 2023	295	85	85	7,605	– 8,070	0
Total segment revenue	72,788	17,261	17,687	6,802	–7,069	107,469
Q1 2023	58,910	18,269	16,769	7,838	– 8,070	93,716
Gross profit	34,072	14,709	7,951	6,802	–6,512	57,022
Q1 2023	28,938	15,654	7,404	7,838	– 7,605	52,229
Segment earnings before interest, tax, depreciation and amortisation (EBITDA)	11,555	2,678	1,654	–2,859	0	13,028
Q1 2023	6,184	3,818	913	– 1,500	0	9,415
Segment earnings before interest and tax (EBIT)	8,036	1,041	183	–4,961	0	4,299
Q1 2023	2,884	2,206	– 456	– 3,824	0	810
Segment assets
31 Mar 2024	158,476	188,744	163,629	333,950	–243,297	601,502
31 Dec 2023	169,879	182,593	164,036	347,700	– 238,434	625,774

Disclosures regarding the financial information

Accounting policies

The accounting policies applied are those used in 2023.

Basis of consolidation

The consolidation as at 31 March 2024 included all entities controlled by Hypoport SE in addition to Hypoport SE itself.

The table below shows the entities included in the interim consolidated financial statements in addition to Hypoport SE.

Subsidiary	Holding in %
1blick GmbH, Lübeck	100.00
AMEXPool AG, Buggingen	100.00
Ampr Software GmbH, Berlin	100.00
Baloise Service GmbH, Bayreuth	70.00
Bayreuth Am Pfaffenfleck 15 Objektgesellschaft mbH, Bayreuth	100.00
Bestkredit-Service GmbH, Lübeck	100.00
Corify GmbH, Berlin	100.00
Dr. Klein Finance S.L.U., Santa Ponca (Spain)	100.00
Dr. Klein Wowi Finanz AG, Lübeck	100.00
Dr. Klein Privatkunden AG, Lübeck	100.00
Dr. Klein Ratenkredit GmbH, Lübeck	100.00
Dr. Klein Wowi Digital AG, Berlin	100.00
ePension GmbH & Co. KG, Hamburg	100.00
ePension Verwaltungs-GmbH, Hamburg	100.00
ePension Holding GmbH, Berlin	100.00
E&P Pensionsmanagement GmbH, Hamburg	100.00
Europace AG, Berlin	100.00
FIO SYSTEMS AG, Leipzig	100.00
FIO SYSTEMS Bulgaria EOOD, Sofia (Bulgaria)	100.00
FUNDINGPORT GmbH, Hamburg	70.00
Fundingport Sofia EOOD, Sofia (Bulgaria)	70.00
Future Finance SE, Lübeck	100.00
GENOPACE GmbH, Berlin	45.025
Growth Real Estate EOOD, Sofia (Bulgaria)	100.00
Hypoport B.V., Amsterdam (Netherlands)	100.00
Hypoport Grundstücksmanagement GmbH, Berlin	100.00
Hypoport Holding GmbH, Berlin	100.00
Hypoport hub SE, Berlin	100.00
Hypoport InsurTech AG, Berlin	100.00

Subsidiary	Holding in %
Hypoport I&P GmbH, Berlin	100.00
Hypoport Pluto Vorratsgesellschaft mbH, Berlin	100.00
Hypoport Mortgage Market Ltd., Westport (Ireland)	100.00
Hypoport Real Estate & Mortgage Bündelungs GmbH, Berlin	100.00
Hypoport Sofia EOOD, Sofia (Bulgaria)	100.00
Maklaro GmbH, Hamburg	100.00
OASIS Software GmbH, Berlin	100.00
Primstal - Alte Eiweiler Straße 38 Objektgesellschaft mbH, Nonnweiler	100.00
Profit NewCo AG, Berlin	100.00
Qualitypool GmbH, Lübeck	100.00
REM CAPITAL AG, Stuttgart	100.00
sia digital GmbH, Berlin	100.00
Smart InsurTech AG, Berlin	100.00
source.kitchen GmbH, Leipzig	100.00
Starpool Finanz GmbH, Berlin	50.025
trinance GmbH, Lübeck	100.00
Value AG the valuation group, Berlin	100.00
Vergleich.de Gesellschaft für Verbraucherinformation mbH, Berlin	100.00
Vergleich.de Versicherungsservice GmbH, Lübeck	100.00
VS Direkt Versicherungsmakler GmbH, Bayreuth	100.00
Volz Vertriebsservice GmbH, Ulm	100.00
Winzer - Kneippstraße 7 Objektgesellschaft mbH, Berlin	100.00
Joint ventures	Holding in %
BAUFINEX Service GmbH, Berlin	50.00
Dutch Residential Mortgage Index B.V., Amsterdam (Netherlands)	50.00
FINMAS GmbH, Berlin	50.00
LBL Data Services B.V., Amsterdam (Netherlands)	50.00
Associated company	Holding in %

Associated company	Holding in %
BAUFINEX GmbH, Schwäbisch Hall	30.00
ESG Screen17 GmbH, Frankfurt am Main	25.10
finconomy AG, Munich	25.10
GENOFLEX GmbH, Nuremberg	30.00

With the exception of the aforementioned joint ventures and associates (all accounted for under the equity method owing to lack of control), all major Hypoport Group companies are fully consolidated.

Subscribed capital

The Company's subscribed capital as at 31 March 2024 was unchanged at €6,872,164.00 (31 December 2023: €6,872,164.00) and was divided into 6,872,164 (31 December 2023: 6,872,164) fully paid-up, registered no-par-value shares.

Events after the reporting period

No material events have occurred since the balance sheet date that are of particular significance to the financial position and financial performance of the Hypoport Group.

Berlin, 6 May 2024 Hypoport SE – The Management Board

2024 Financial calendar:

Date

Monday, 11 March 2024	Preliminary financial results for 2023
Monday, 25 March 2024	2023 annual report
Monday, 6 May 2024	Interim management statement for the first quarter of 2024
Monday, 12 August 2024	Report for the first half of 2024
Monday, 11 November 2024	Interim management statement for the third quarter of 2024

Note:

This interim management statement is available in German and English. The German version is always authoritative. The interim management statement can be found online at www.hypoport.com.

This interim management statement contains forward-looking statements that are based on the current experience, assumptions and forecasts of the Management Board and on currently available information. The forward-looking statements are not a guarantee that any future developments or results mentioned will actually materialise. Future developments and results are dependent on a number of factors, subject to various risks and uncertainties, and based on assumptions that may not prove to be correct. These risk factors include, but are not limited to, the risk factors set forth in the risk report in the most recent annual report. We do not undertake to update the forward-looking statements made in this interim management statement.