EANS-News: Hypoport AG starts 2012 on a robust note
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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quarterly report
Berlin, 7 May 2012 (euro adhoc) - Financial service provider Hypoport continued
to grow in the first quarter of 2012, raising its revenue by 16.4 per cent to
EUR20.6 million. The key drivers of this growth were the strong performance of
the EUROPACE marketplace and the impartial mortgage finance advice offered to
customers. However, a lack of big-ticket deals with institutional clients masked
the Company's impressive earnings figures, with EBITDA declining marginally year
on year to around EUR2 million.
The Financial Service Providers business unit was one of the main factors
driving Hypoport's double-digit revenue growth to EUR20.6 million (Q1 2011:
EUR17.7 million). The EUROPACE platform was bolstered by its success in signing
up new partners and by the fact that banks, insurance companies and building
finance associations are using this marketplace not only to strengthen their own
business but, increasingly, to sell financial products to third-party
distributors. Despite tough market conditions in the insurance sector, the
Private Clients business unit also made an encouraging start to the year.
Insurance companies, distributors and end customers were unnerved by the
regulatory changes introduced in the market, which meant that business in
insurance was generally subdued in the first quarter. The Institutional Clients
unit continued to expand its brokerage activities and consulting services for
housing companies, local authorities, municipal entities and commercial
customers. However, the first quarter of 2012 suffered from a lack of big-ticket
transactions, whose volumes fluctuate sharply over the course of the year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell
slightly year on year to EUR2.0 million (Q1 2011: EUR2.2 million).
Ronald Slabke, chief executive officer of Hypoport AG, commented on the first
three months of the current year: "On the whole, Hypoport has been moving in the
right direction. All three business units significantly strengthened the
platforms on which they can generate future growth. This is more important for
our business over the year as a whole than temporary operating conditions, which
impacted on our first-quarter earnings." Assuming that the market environment
remains unchanged, Slabke still expects the Company to achieve double-digit
revenue growth and a year-on-year improvement in net profit for 2012 as a whole.
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.
Europace AG - a wholly owned Hypoport subsidiary - develops and operates
EUROPACE, which is an online financial marketplace and the largest German
platform offering mortgages, building finance products and personal loans. A
fully integrated system links roughly 180 partners - banks, insurers and
financial product distributors. Several thousand users execute over 20,000
transactions worth a total of more than 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
investments. 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.
Further inquiry note:
Michaela Reimann
Pressesprecherin
Telefon: +49 (0) 30 42086 1936
E-Mail: michaela.reimann@hypoport.de
end of announcement euro adhoc
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company: Hypoport AG
Klosterstraße 71
D-10179 Berlin
phone: +49(0)30 42086-0
FAX: +49(0)30 42086-1999
mail: ir@hypoport.de
WWW: http://www.hypoport.de
sector: Financial & Business Services
ISIN: DE0005493365
indexes: CDAX, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English