DGAP-News: Hypoport AG: Hypoport adapts successfully to changes in the market
(firmenpresse) - DGAP-News: Hypoport AG / Key word(s): Half Year Results
Hypoport AG: Hypoport adapts successfully to changes in the market
05.08.2013 / 07:53
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Financial results for the first half of 2013
Online financial service provider Hypoport generated double-digit revenue
growth in the first six months of 2013. The figure of EUR2.8 million for
EBITDA reflected the cost-intensive measures taken to adjust to what
remained a challenging market environment: although it declined overall
year on year, it was rising sharply towards the end of the reporting
period.
Ronald Slabke, the Chief Executive Officer (CEO) of Hypoport AG,
summarised: 'In the first half of 2013 the Hypoport Group adapted to the
new prevailing market conditions - especially in the insurance sector - and
adjusted its business models accordingly.' A cursory glance at its key
performance indicators shows that this was the right course of action. The
Company increased its revenue by 16 per cent to EUR48.7 million in the
first six months of 2013 (H1 2012: EUR41.9 million). Although earnings
before interest, tax, depreciation and amortisation (EBITDA) declined year
on year to EUR2.8 million in the first half of the year (H1 2012: EUR5.4
million), it was on a clear upward trajectory in the second quarter.
The Private Clients business unit continued to expand its loan brokerage
activities despite the flat market. Building finance products attracted
particularly strong demand, making an increasingly valuable contribution to
growth. The other banking products offered - such as instant-access
deposits and current accounts - were still unable to compete with the
artificially cheap money provided by the European Central Bank. On the
other hand, constant regulatory changes and the low level of interest rates
continued to act as a drag on the insurance market. The volume of
transactions completed in the Financial Service Providers business unit
grew across all product segments. The continual capital spending committed
in recent years is increasingly paying dividends here. The Institutional
Clients business unit delivered a respectable performance despite the fact
that many customers continued to adopt a cautious stance as interest rates
failed to provide much stimulus. The transaction pipeline was therefore
well stocked in the second quarter of 2013, although no big-ticket deals
were closed.
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 more than 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.
Contact:
Michaela Reimann
Head of Communications
Hypoport AG
Klosterstraße 71
10179 Berlin
Mobile: +49 (0) 151 / 58 04 - 1936
Phone.: +49 (0) 30 / 4 20 86 - 1936
E-mail: michaela.reimann(at)hypoport.de
Internet: www.hypoport.de
Twitter: http://twitter.com/Hypoport
Facebook: http://www.facebook.com/hypoport
Key data on Hypoport's shares
ISIN DE 0005493365
WKN 549336
Stock exchange symbol HYQ
End of Corporate News
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05.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Language: English
Company: Hypoport AG
Klosterstraße 71
10179 Berlin
Germany
Phone: +49/30 42086-0
Fax: +49/30 42086-1999
E-mail: ir(at)hypoport.de
Internet: www.hypoport.de
ISIN: DE0005493365
WKN: 549336
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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224066 05.08.2013
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Datum: 05.08.2013 - 07:53 Uhr
Sprache: Deutsch
News-ID 284550
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Kategorie:
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