EANS-News: Hypoport AG wins market share and generates consistent revenue
Berlin, (euro adhoc) -
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Financial Figures/Balance Sheet
12 March 2010: The Hypoport Group expanded its market share across all business units in 2009, generating stable revenue in a financial services sector gripped by turmoil. Given the prevailing market conditions and the planned level of capital expenditure on the EUROPACE transaction platform, the Company's earnings before interest, tax, depreciation and amortisation (EBITDA) fell year on year in line with forecasts.
The Hypoport Group continued to pursue its business model in 2009, thereby winning further market share. Its revenue in what was a crisis-ridden 2009 came to EUR50 million, which was only marginally below the record figure reported for the previous year (revenue in 2008: EUR53 million). However, EBITDA fell significantly year on year to EUR5 million (EBITDA 2008: 8 Mio. EUR). Prior to the financial crisis, when the Hypoport Group had been posting consistently strong growth, it had launched large-scale strategic projects. As expected, these incurred a considerable expense and caused EBITDA to come correspondingly lower in 2009. High-profile success stories were the growing popularity of Genopace among Germany's cooperative financial institutions and the launch of Finmas as a financial marketplace for German savings banks. Commenting on the financial services industry as a whole, Ronald Slabke, the co-CEO of Hypoport AG, noted: "This was a really tough year for all market participants, and none of us can be truly pleased with the results we've achieved in absolute terms. Although we expect conditions to remain challenging in 2010, we should be able to reap the rewards of our current efforts in subsequent years".
end of announcement euro adhoc
Further inquiry note:
Michaela Reimann
Group Communications Manager
Telefon: +49(0)30 42086-1936
E-Mail: michaela.reimann@hypoport.de
Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Börsen: Frankfurt / regulated dealing/prime standard