DGAP-News

Sustained, all-round growth for Hypoport

DGAP-News: Hypoport AG / Key word(s): Preliminary Results Sustained, all-round growth for Hypoport 13.03.2017 / 07:00 The issuer is solely responsible for the content of this announcement. Press release

Preliminary financial results for 2016

Sustained, all-round growth for Hypoport

Berlin, 13 March 2017: Technology-based financial service provider Hypoport once again reported the most successful financial year in its history with its results for 2016. Consolidated revenue rose by 13 per cent to EUR156.6 million (2015: EUR139.0 million). Earnings before interest and tax (EBIT) rose at an even faster rate, climbing by 21 per cent to EUR23.2 million (2015: EUR19.3 million). Moreover, earnings per share increased by 15 per cent to EUR3.00 (2015: EUR2.61).

"Our preliminary financial results for 2016 show that, on the basis of our business models in the mortgage finance market, we again generated strong growth. This is an excellent achievement because the implementation of the Mortgage Credit Directive and the absence of stimulus from interest rates significantly subdued the market in the first nine months of the year," commented Ronald Slabke, Chief Executive Officer of Hypoport AG, on the Group's performance. He attributes the Company's sustained success to the superiority of its business models and technologies as well as a corporate culture that is focused on allowing talent to flourish.

The Financial Service Providers business unit generated double-digit growth in all the relevant key figures. It considerably increased its share of both the mortgage finance market, which contracted slightly, and the personal loans market. By acquiring the new subsidiaries, NKK Programm Service AG and HypService GmbH, the foundations were laid for expansion in the insurance and property valuation markets. Revenue rose by 22 per cent to EUR53.6 million (2015: EUR44.0 million). EBIT climbed by 29 per cent to EUR13.0 million (2015: EUR10.1 million). This strong growth was achieved despite increased costs as a result of stepping up key account management, particularly for regional banks, and software development.