EQS-News

Hypoport gets 2024 underway with double-digit growth

EQS-News: Hypoport SE / Key word(s): Quarter Results Hypoport gets 2024 underway with double-digit growth 06.05.2024 / 07:10 CET/CEST The issuer is solely responsible for the content of this announcement. Group results for Q1 2024

 

Hypoport gets 2024 underway with double-digit growth

 

• Consolidated revenue up 15 per cent year on year
• EBIT more than quadrupled to €4.3 million
• Mortgage finance business models particularly strong
• Forecast for 2024 of revenue of at least €400 million and EBIT of between €10 million and €20 million confirmed

Berlin, 6 May 2024: In the first quarter of 2024, the Hypoport Group increased its revenue by 15 per cent compared with Q1 2023 to €107 million. The growth was driven by the business models for mortgage finance in the Real Estate & Mortgage Platforms segment.

A considerable rise in transaction volumes on the Europace, Finmas and Genopace platforms and in sales volumes generated by Dr. Klein provided a significant boost for revenue in the Real Estate & Mortgage Platforms segment. Besides further increases in market share, this revenue growth came on the back of an upturn in the market following a reduction in long-term interest rates at the end of 2023, lower property prices and an increasingly unattractive rental market, which is prompting many home seekers to more seriously consider purchasing residential property. With higher revenue from the property sales platform and lower revenue in the market for property valuation – which remains challenging due to regulatory constraints and fewer transactions – revenue for the segment as a whole came to €73 million (up 24 per cent compared with Q1 2023).

Three different aspects shaped the performance of the Financing Platforms segment. Despite a weak overall market, the housing industry subsegment gained market share and generated double-digit revenue growth to get 2024 off to a good start. In the personal loans subsegment, the client base was expanded, but ever more restrictive commercial banks and a weaker overall market meant that revenue remained flat. In the corporate finance subsegment, the volume of new projects decreased significantly in light of the spending freeze for many government support programmes, more restrictive lending by banks and postponements of corporate clients’ investment plans. Overall, therefore, the Financing Platform segment’s revenue declined marginally and was down by 6 per cent compared with the first quarter of 2023 to €17 million.