Hypoport SE
Hypoport AG: Due to weak developments in the Institutional Clients business unit, Hypoport AG expects EBIT for the Group to be lower in the third quarter of 2017 than in the same quarter in 2016
Hypoport AG / Key word(s): Quarter Results/Preliminary Results Inside information pursuant to article 17 of the Market Abuse Regulation (MAR) Due to weak developments in the Institutional Clients business unit, Hypoport AG expects EBIT for the Group to be lower in the third quarter of 2017 than in the same quarter in 2016 Berlin, 20 October 2017: The preliminary financial results for Hypoport AG, which were analysed at today’s meeting of the Management Board, show that earnings before interest and tax (EBIT) in the third quarter of 2017 were below the figure for the same period in 2016. This is due to lower revenue in the Institutional Clients business unit and higher expenses in connection with the digitalisation of this unit and the expansion of the sales network. The three other business units, Credit Platform, Private Clients and Insurance Platform, were not affected by this. In the Institutional Clients business unit, revenue of nearly EUR4 million is predicted for 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, revenue of more than EUR14 million (Q1-Q3 2016: EUR11.9 million) and EBIT of approximately EUR4 million (Q1-Q3 2016: EUR3.6 million) is predicted for the Institutional Clients business unit. Hypoport will publish preliminary revenue and earnings figures for all four business units in a separate press release today. Hypoport AG will be publishing its final results for the full nine-month period of 2017 as planned on 30 October this year. Contact Key data on Hypoport’s shares
20-Oct-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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 Announcement | DGAP News Service |