EANS-News: Hypoport AG Hypoport generates revenue growth and shrugs off market
turmoil
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Annual Reports/Preliminary financial results for 2012
Berlin, 11. March 2013 (euro adhoc) - Hypoport AG continued to increase its
market share in 2012. The financial service provider raised its revenue by 4 per
cent to approximately EUR88 million, consolidating its market position. However,
its growth was hampered by the operational and regulatory changes taking place
in the financial services market. Although the Hypoport Group was able to use
its diversified business model to mitigate the market disruption, its earnings
before interest, tax, depreciation and amortisation (EBITDA) declined year on
year to EUR8.1 million.
2012 was a year marked by historically low interest rates, limited supply of
real estate, and sweeping regulatory changes in the insurance market. While the
low level of interest rates boosted mortgage finance, it acted as a drag on
business in pensions, savings and investments. The insurance sector also
suffered from legislators' regulatory interventions in the market for
comprehensive private health insurance. "The difficult and highly volatile
market conditions prevailing in 2012 meant that we were unable to exploit the
full potential of our business model. This environment hampered our growth and
impaired our earnings," stressed Ronald Slabke, the Chief Executive Officer of
Hypoport AG. Across all its business units the Hypoport Group raised its revenue
by 4 per cent to EUR87.8 million (2011: EUR84.4 million), while EBITDA fell year
on year to EUR8.1 million (2011: EUR11.5 million). "We used last year as an
opportunity to adjust to the changing conditions in the financial services
sector," commented Slabke on the Company's results, forecasting: "In 2013 we
therefore plan to achieve double-digit revenue growth and expect our earnings to
return to their record levels of previous years."
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 200 partners - banks, insurers and
financial product distributors. Several thousand users execute over 20,000
transactions worth a total of up to 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
Head of Corporate Communications
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