Hypoport SE
Hypoport starts 2016 with revenue growth and a jump in EBIT
DGAP-News: Hypoport AG / Key word(s): Quarter Results Press release Preliminary financial results for the first quarter of 2016 Hypoport starts 2016 with revenue growth and a jump in EBIT Berlin, 2 May 2016: Technology-based financial service provider Hypoport has begun this year with the strongest first quarter in its history. Consolidated revenue was up by 7 per cent, rising to EUR35.7 million (Q1 2015: EUR33.3 million). Earnings before interest and tax (EBIT) jumped by 42 per cent to EUR5.4 million (Q1 2015: EUR3.8 million) and earnings per share increased by 40 per cent to EUR0.70 (Q1 2015: EUR0.50). “We achieved this outstanding result despite the fact that the implementation of new regulations in the mortgage finance market arising from the Mortgage Credit Directive (MCD) has tied up resources for us and for banks and partners, and had a negative impact on new business,” said Ronald Slabke, Chief Executive Officer of Hypoport AG. In its Financial Service Providers business unit, the transaction volume of EUR10.4 billion was slightly down on the prior-year quarter (Q1 2015: EUR11.1 billion), largely due to the introduction of the MCD to regulate the lending market. At the same time, the business unit successfully completed the development of the new BaufiSmart front end – the biggest IT project in its history. The unit has also expanded its distribution capability and has secured a total of 15 new partners since the beginning of the year. Even in this difficult environment, the business unit remained on a growth trajectory, with revenue for the quarter rising to EUR10.8 million (Q1 2015: EUR10.1 million). Despite these factors and the expansion in distribution capacity, EBIT remained unchanged year on year at EUR2.5 million (Q1 2015: EUR2.5 million). The Private Clients business unit also had to deal with the MCD. Focusing on product suppliers that were not held back by the Mortgage Credit Directive meant that the business unit was still able to further expand its share of the mortgage finance market. The business unit generated revenue of EUR20.9 million (Q1 2015: EUR19.4 million) – its best-ever quarterly result. The full migration to EUROPACE BaufiSmart also led to efficiency gains for its current team of 476 advisors (31 December 2015: 437). This, combined with lower losses from the insurance business, enabled the business unit to report a significant jump in EBIT of 117 per cent to EUR2.5 million (Q1 2015: EUR1.2 million). “Overall, we enjoyed a good first quarter in a market held back by regulation,” said Slabke, adding: “We expect the lending market to normalise as the year progresses and we are looking to the future with confidence. Structural growth in the housing market and the pressure for financial services to go digital will also help us to continue expanding our market share. That is why, following a strong start to 2016 and despite the uncertainty created by regulation, we continue to forecast revenue and earnings growth for 2016 as a whole that is just into double digits, both at Group level and in the three business units.” About Hypoport AG Contact: Christian Würdemann Investor Relations 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
2016-05-02 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 | |
End of News | DGAP News Service |