Hypoport SE
Sustained, all-round growth for Hypoport
DGAP-News: Hypoport AG / Key word(s): Preliminary Results Press release Preliminary financial results for 2016 Sustained, all-round growth for Hypoport “Our preliminary financial results for 2016 show that, on the basis of our business models in the mortgage finance market, we again generated strong growth. This is an excellent achievement because the implementation of the Mortgage Credit Directive and the absence of stimulus from interest rates significantly subdued the market in the first nine months of the year,” commented Ronald Slabke, Chief Executive Officer of Hypoport AG, on the Group’s performance. He attributes the Company’s sustained success to the superiority of its business models and technologies as well as a corporate culture that is focused on allowing talent to flourish. The Financial Service Providers business unit generated double-digit growth in all the relevant key figures. It considerably increased its share of both the mortgage finance market, which contracted slightly, and the personal loans market. By acquiring the new subsidiaries, NKK Programm Service AG and HypService GmbH, the foundations were laid for expansion in the insurance and property valuation markets. Revenue rose by 22 per cent to EUR53.6 million (2015: EUR44.0 million). EBIT climbed by 29 per cent to EUR13.0 million (2015: EUR10.1 million). This strong growth was achieved despite increased costs as a result of stepping up key account management, particularly for regional banks, and software development. The Private Clients business unit also widened its share of the mortgage finance and personal loans markets. Numerous awards bestowed on Dr. Klein by consumer magazines pushed up demand and demonstrate the superiority of the non-captive advisory model. Overall, the business unit’s revenue growth was just into double figures, with revenue advancing to EUR86.1 million (2015: EUR78.6 million). EBIT grew at an even faster rate, rising by 21 per cent to EUR9.0 million (2015: EUR7.4 million). Positive trends in the sale of insurance and other banking products contributed to the improvement in earnings. The Institutional Clients business unit also delivered a strong performance in the face of sluggish interest rates. The small rise in revenue, which went up by 7 per cent to EUR18.6 million (2015: EUR17.3 million), was achieved despite the housing industry remaining muted for much of 2016. Higher capital expenditure on existing and new business models resulted in EBIT of EUR6.3 million (2015: EUR6.6 million). Moreover, Hypoport introduced some highly promising new business models and, having focused on organic growth for many years, integrated new subsidiaries into the Group. “We are taking a careful approach to supplementing our rapid organic growth by acquiring companies whose success will benefit the Hypoport Group. These new activities are still ‘tender seedlings’ – from the perspective of the Group as a whole in 2016. I am confident that, by leveraging synergies between existing and new subsidiaries, we will enable them to make an additional and substantial contribution to the growth of the Hypoport Group in the near future,” said Ronald Slabke. “We again expect our Group’s revenue and earnings growth to be just into double figures in 2017,” he added with regard to this year.
13.03.2017 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 |