DGAP-News

Hypoport starts 2016 with revenue growth and a jump in EBIT

DGAP-News: Hypoport AG / Key word(s): Quarter Results
Hypoport starts 2016 with revenue growth and a jump in EBIT

02.05.2016 / 07:56
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Press release

Preliminary financial results for the first quarter of 2016

Hypoport starts 2016 with revenue growth and a jump in EBIT

Berlin, 2 May 2016: Technology-based financial service provider Hypoport
has begun this year with the strongest first quarter in its history.
Consolidated revenue was up by 7 per cent, rising to EUR35.7 million (Q1
2015: EUR33.3 million). Earnings before interest and tax (EBIT) jumped by
42 per cent to EUR5.4 million (Q1 2015: EUR3.8 million) and earnings per
share increased by 40 per cent to EUR0.70 (Q1 2015: EUR0.50).

"We achieved this outstanding result despite the fact that the
implementation of new regulations in the mortgage finance market arising
from the Mortgage Credit Directive (MCD) has tied up resources for us and
for banks and partners, and had a negative impact on new business," said
Ronald Slabke, Chief Executive Officer of Hypoport AG.

In its Financial Service Providers business unit, the transaction volume of
EUR10.4 billion was slightly down on the prior-year quarter (Q1 2015:
EUR11.1 billion), largely due to the introduction of the MCD to regulate
the lending market. At the same time, the business unit successfully
completed the development of the new BaufiSmart front end - the biggest IT
project in its history. The unit has also expanded its distribution
capability and has secured a total of 15 new partners since the beginning
of the year. Even in this difficult environment, the business unit remained
on a growth trajectory, with revenue for the quarter rising to EUR10.8
million (Q1 2015: EUR10.1 million). Despite these factors and the expansion
in distribution capacity, EBIT remained unchanged year on year at EUR2.5
million (Q1 2015: EUR2.5 million).

The Private Clients business unit also had to deal with the MCD. Focusing
on product suppliers that were not held back by the Mortgage Credit
Directive meant that the business unit was still able to further expand its
share of the mortgage finance market. The business unit generated revenue
of EUR20.9 million (Q1 2015: EUR19.4 million) - its best-ever quarterly
result. The full migration to EUROPACE BaufiSmart also led to efficiency
gains for its current team of 476 advisors (31 December 2015: 437). This,