Growing against the market trend Hypoport Group: Key figures for the period ending 30 June 2008
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15 August 2008 - The global real estate and financial crisis, soaring energy prices and forecasts of a downswing in the economy are unsettling clients. The result is a marked reticence to invest in capital goods and, in consequence, less demand for financing as shown by the most recent figures published by Bundesbank. Its innovative business models have enabled Hypoport Group to significantly improve its market position and gain additional market shares in spite of this environment. According to Prof. Dr. Thomas Kretschmar, Co-CEO of Hypoport AG: "In light of the current environment, we are extremely satisfied with the development of our business".
Key figures
Compared with the first six months 2007, Group revenues increased by 32 %, amounting to EUR 25.1 million for the first half 2008. As such, the Group has already virtually matched its result for the entire year 2006 (EUR 26.3 million) in the first two quarters alone. The considerable increase in sales-related expenditure and ongoing investments in new business models, such as EUROPACE for the Netherlands and for investors, caused earnings before interest and taxes to decline to EUR 1.6 million.
Private clients business unit is growing
The number of customers that contacted Dr. Klein, the internet-based subsidiary of the Group, to enquire about financial service products increased strongly to 1.5 million in the first half year. These leads form the basis for the successful online, telephone and branch office sales of the Group. Hypoport Group witnessed the strongest growth in its "other financial service products". These include financial investments, loans for new cars or smaller modernisation measures, but also insurance policies or current accounts. Associated revenues increased by more than 120% compared with the first half 2007.
The Group significantly expanded its advisory capacity again in the 2nd quarter in order to ensure that all potential customers are provided with the highest possible level of qualified advice: 38 telesales agents and 114 branch offices with 223 advisors, together with a network of 1,605 independent financial advisors working in agency sales. Dr. Klein was recently awarded top marks for the quality of its advice from various institutions, including Stiftung Warentest.
EUROPACE platform: successful and neutral
The internet-based EUROPACE marketplace operated by Hypoport Group was also able to grow against the general market trend. Transaction volumes increased to EUR 3.6 billion in the 2nd quarter (EUR 3.2 billion year-on-year). The product category instalment loans witnessed particularly positive development, more than doubling its volume to EUR 0.26 billion in the second quarter compared with the same period last year (Q2 2007: EUR 0.11 billion). Ronald Slabke, Co-CEO of Hypoport AG, explains the most recent developments: "We expect the expansion of the range of services we offer in packaging, our Starpool joint venture with DSL Bank, the agency sales of Deutsche Postbank and the acquisition of Interhyp AG by the ING Group to provide further growth momentum to the - now more than ever - central and independent marketplace for mortgage financing over the coming quarters".
Marked increase in the number of employees
The Group reports a further satisfactory increase in the shape of its headcount. Over the last 12 months, Hypoport Group has created more than 100 new jobs, primarily at its two main offices in Berlin and Lübeck. This equated to an increase of 29% to a headcount of 441 within just one year. Ronald Slabke: "We are delighted that our development in a generally weak environment is a clear sign of the benefit of highly qualified jobs in Germany. Our company attracts high performers. And these are exactly the people we need to continue our successful progress."
Note:
The interim report for the 2nd quarter can be downloaded from the internet at www.hypoport.com in the section "Investor Relations - Publications".
end of announcement euro adhoc
Further inquiry note:
Karen Niederstadt
Group Communications Director
Telefon: +49(0)30 42086-1930
E-Mail: karen.niederstadt@hypoport.de
Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Börsen: Börse Frankfurt / regulated dealing/prime standard