HYPOPORT SE

Earnings Release • Aug 4, 2014

News Details

Corporate | 4 August 2014 08:42

Hypoport AG: Hypoport remains firmly on track

Hypoport AG / Key word(s): Half Year Results

04.08.2014 / 08:42

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Press release

Financial results for the first half of 2014

Hypoport remains firmly on track

Berlin, 4 August 2014: Online financial service provider Hypoport continued on its growth trajectory in the first six months of this year. Its revenue for this period rose to EUR53.3 million, while its earnings before interest and tax (EBIT) came to EUR4.3 million.

Despite persistently challenging market conditions – such as historically low interest rates and the regulation introduced in the financial services markets – Hypoport AG’s first-half revenue advanced by 12.1 per cent year on year to EUR53.3 million (H1 2014: EUR47.6 million). Earnings before interest and tax (EBIT) increased from EUR0.7 million in the first six months of 2013 to EUR4.3 million in the corresponding period of this year.

“Only our mortgage-finance business continues to benefit marginally from the low level of interest rates,” was how Chief Executive Officer Ronald Slabke summarised the prevailing market situation in the Private Clients business unit. “A steady stream of new European Union directives and laws enacted by the German government is imposing a never-ending flood of regulation on the financial services market. The most recent examples of regulation that has adversely affected both us and our partners are the EU Directive on Consumer Rights and the German Life Insurance Reform Act (LVRG), the latter having been pushed through in something of a hurry. Hypoport continued to meet these challenges successfully and to strategically realign its insurance business for private clients. Having completed two highly encouraging financial quarters, the Private Clients business unit generated earnings of EUR1.0 million.”

The Financial Service Providers business unit achieved double-digit growth in the value of transactions generated in the second quarter of 2014, setting a new record of EUR9.0 billion for its transaction volume. The earnings of EUR3.0 million posted by this business unit made a substantial contribution to the profit generated by the Hypoport Group in the first six months of the year.

Although many business customers adopted a fairly cautious stance – especially in the second quarter – as rock-bottom interest rates failed to provide any stimulus, the Institutional Clients business unit achieved double-digit year-on-year increases in its volume of loans brokered, its revenue and its earnings for the first half of 2014.

Taken together, the financial results achieved in the first half of the year confirm that Hypoport is on the right track with its forecast for 2014 as a whole, for which Slabke continues to expect double-digit revenue growth and earnings above the record levels seen in 2010 and 2011.

Information on Hypoport AG

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. As a wholly-owned subsidiary of Hypoport, Europace AG develops and operates the web-based EUROPACE financial marketplace, which is Germany’s largest platform for mortgages, building finance products and personal loans. A fully integrated system links 250 partners – banks, insurers and financial product distributors. Several thousand users execute more than 20.000 transactions worth a total of up to EUR3 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 retirement planning. 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:

Christian Würdemann

Head of Communications, Human Resources & Legal

Hypoport AG

Klosterstraße 71

D-10179 Berlin

Phone: +49 (0) 30 / 4 20 86 – 1920

Fax: +49 (0) 30 / 4 20 86 – 281920

E-Mail: ir@hypoport.de

Internet: www.hypoport.de

Twitter: http://twitter.com/Hypoport

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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
Listed:	Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart

End of News	DGAP News-Service

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