EQS-Adhoc

Hypoport SE: Market-related decline in revenue and EBIT in 2023 // Publication of 2024 forecast

EQS-Ad-hoc: Hypoport SE / Key word(s): Preliminary Results/Forecast Hypoport SE: Market-related decline in revenue and EBIT in 2023 // Publication of 2024 forecast 06-March-2024 / 13:55 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Inside information pursuant to article 17 of the Market Abuse Regulation (MAR)

 

Hypoport SE: Market-related decline in revenue and EBIT in 2023 // Publication of 2024 forecast

 

Berlin, 6 March 2024: At today's Management Board meeting, Hypoport’s preliminary business figures for the fourth quarter of 2023 and the 2023 financial year were evaluated. On this basis, the Hypoport Management Board expects the following results for the 2023 financial year and is issuing its forecast for the current financial year:

 

• Revenue FY 2023: -21% to € 360 mn (FY 2022: €455 mn)
• EBIT FY 2023: approx. -45% to approx. €13 mn (FY 2022: €25 mn)

 

• Revenue Q4 2023: +5% to € 93 mn (Q4 2022: €88 mn)
• EBIT Q4 2023: +€16 mn (Q4 2022: -€6 mn)

 

The main reason for the significant decline in revenue and EBIT in the fiscal year 2023 was a significant slump in the private mortgage market.

 

The EBIT for the fourth quarter includes net one-off effects of approximately +€12 mn, mainly for a removed purchase price liabilities from a debtor warrant and expenses for the reorganization of the property valuation business. 

 

Hypoport expects to generate consolidated net income of around €20 million in 2023 (FY 2022: €19 million) thanks to positive deferred one-off tax items.

 

For 2024, the Management Board of Hypoport anticipates a double-digit percentage increase in consolidated revenue to at least €400 million and EBIT of between €10 million and €20 million for the Hypoport Group as a whole, depending on the further normalisation of the private real estate finance market over the course of the year.