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Hypoport SE: sustained growth and robust results in the first quarter of 2021

DGAP-News: Hypoport SE / Key word(s): Quarter Results Hypoport SE: sustained growth and robust results in the first quarter of 2021 10.05.2021 / 06:56 The issuer is solely responsible for the content of this announcement. Results for Q1 2021

Hypoport SE: sustained growth and robust results in the first quarter of 2021

 

• Hypoport continues to generate steady growth despite the resurgent coronavirus pandemic (third wave)
• Consolidated revenue amounts to €108 million in Q1 2021, up by 7 per cent compared with the very strong prior-year period
• The Group's EBIT jumps by 15 per cent to €12.1 million

 

Berlin, 10 May 2021: The Hypoport Group continued to generate steady growth in the first quarter of 2021. All four segments contributed to the Group's robust performance.

The Credit Platform segment recorded the sharpest increase in revenue among the segments, posting a rise of 12 per cent to €46 million. This was mainly driven by the growth of mortgage finance business on the Europace B2B lending marketplace and, in particular, on the FINMAS and GENOPACE sub-marketplaces for the savings banks and cooperative banks. Revenue from the mortgage finance business models within the Credit Platform segment went up by 16 per cent in total. In the first quarter of 2021, corporate finance revenue decreased year on year owing to a change in the structure of support grants and loans that resulted in a shift in approvals for such support to the second half of 2021. The adverse market conditions created by the pandemic led to a decrease in revenue from the white-label personal loans business. The Credit Platform segment's total revenue rose by 12 per cent to €46 million. The segment's EBIT advanced by 23 per cent to €9.9 million despite continued high levels of investment.

Revenue in the Private Clients segment amounted to €35 million, up by 6 per cent compared with the very strong prior-year period. The B2C brand Dr. Klein Privatkunden increased its sales volume by 14 per cent and captured significant market share through its systematic use of Europace and deployment of video technology for its advisory meetings. The segment's EBIT increased at a much stronger rate, climbing by 23 per cent to €6.2 million owing to an improved product mix and a pandemic-related reduction in operating costs.