EQS-News

Hypoport SE: exceptionally strong first half of 2022 followed by a weak third quarter in difficult market conditions

EQS-News: Hypoport SE / Key word(s): 9 Month figures Hypoport SE: exceptionally strong first half of 2022 followed by a weak third quarter in difficult market conditions 14.11.2022 / 07:10 CET/CEST The issuer is solely responsible for the content of this announcement. Group results for Q1–Q3 2022

 

Hypoport SE: exceptionally strong first half of 2022 followed by a weak third quarter in difficult market conditions

 

• Consolidated revenue rises by 13 per cent to €368 million in Q1–Q3 2022 and falls by 6 per cent to €105 million in Q3
• EBIT decreases by 7 per cent to €31 million in Q1–Q3 2022 and by 93 per cent to €0.8 million in Q3

Berlin, 14 November 2022: The Hypoport Group’s growth in the first three quarters of 2022 was in double figures, whereas revenue declined in the third quarter owing to faltering momentum in the mortgage finance market and in the corporate finance business. Consolidated revenue rose by 13 per cent year on year to reach €368 million in the first nine months of 2022. However, it fell by 6 per cent to €105 million in the third quarter of the year. The Hypoport Management Board has announced that cost levels will be adjusted across the Group to reflect the current market situation.

The Credit Platform segment recorded a 15 per cent increase in revenue to €168 million in the first three quarters of 2022. This rise was due to the excellent performance of the private mortgage finance business models and of the corporate finance business in the first half of the year. However, the segment’s revenue declined by 10 per cent to €49 million in the third quarter of 2022. The biggest influence was the strong growth achieved in the first half of the year by the mortgage finance business on the Europace B2B lending marketplace and on the FINMAS and GENOPACE sub-marketplaces for savings banks and cooperative banks and by the corporate finance business operated through REM CAPITAL. The decrease in the third quarter can be explained by the fact that consumers and small and medium-sized enterprises in Germany were very reluctant to enter into transactions in these credit markets. Revenue from the relatively small personal loans business was less affected by the significant market volatility and increased slightly in the nine-month period. The segment’s EBIT advanced more sharply than revenue in the first nine months of the year, rising by 18 per cent to €42 million. Reflecting the fall in revenue in the third quarter, EBIT went down by 26 per cent to €11 million.