DGAP-News: Hypoport AG: sticks to its forecasts - Financial results for the first nine months of 2013
(firmenpresse) - DGAP-News: Hypoport AG / Key word(s): Quarter Results
Hypoport AG: sticks to its forecasts - Financial results for the first
nine months of 2013
04.11.2013 / 08:09
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Press release
Financial results for the first nine months of 2013
Hypoport sticks to its forecasts
Berlin, 4 November 2013: Online financial service provider Hypoport
generated double-digit revenue growth of 20 per cent in the first nine
months of 2013, while earnings before interest, tax, depreciation and
amortisation (EBITDA) were at the record level seen in previous years.
Although the start of the year had proved tough, Hypoport achieved its
best-ever quarterly results from July to September on the back of record
figures in its Financial Service Providers and Institutional Clients
business units as well as the rapidly progressing restructuring of its
insurance business.
Revenue rose by 20 per cent to EUR75.7 million in the first three quarters
of this year (Q1-Q3 2012: EUR62.9 million). Earnings before interest, tax,
depreciation and amortisation (EBITDA) were unchanged year on year at
EUR7.2 million (Q1-Q3 2012: EUR7.2 million). 'We achieved this growth in
revenue and EBITDA against a backdrop of mixed conditions in the financial
services market,' remarked Ronald Slabke, Chief Executive Officer of
Hypoport AG. While many market participants have enhanced their resilience
in recent years, governments and regulators are currently causing market
uncertainty, according to Slabke. As far as the financial services industry
is concerned, this means that not only the players but also the rules of
the game are now unpredictable. A broad-based position, flexibility and
efficient processes are needed in order to gain market share in this
environment. Despite conditions remaining challenging, particularly in the
insurance market, the Chief Executive Officer anticipates double-digit
revenue growth as well as EBITDA at the record level seen in previous
years.
The Private Clients business unit returned to profit in the third quarter.
Prevailing low interest rates boosted growth in the loan brokerage
business. Further regulatory proposals in the insurance market fuelled huge
uncertainty, thereby impacting negatively on the volume of insurance
transactions. Viewed from a cost perspective, the organisational and
process-related restructuring of this business yielded the anticipated
profitability improvements. The Financial Service Providers business unit
continued to grow across all product segments in the third quarter. The
volume of transactions processed on this marketplace for financial products
topped EUR8 billion for the second consecutive quarter. The systematic
expansion of the platform's functionality accelerated the process of
winning new partners and integrating existing ones. A large volume of loans
was brokered in the Institutional Clients business unit on the back of the
modest rise in interest rates. The strong performance of this business was
underpinned by the broad customer base. This unit managed to significantly
increase not just the number of borrowers but also that of lenders in the
third quarter.
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
End of Corporate News
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04.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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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237479 04.11.2013
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Datum: 04.11.2013 - 08:09 Uhr
Sprache: Deutsch
News-ID 312043
Anzahl Zeichen: 4371
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Kategorie:
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