Hypoport AG continues its strong growth in the first nine months 2007
Geschrieben am 30-11-2007 |
Report for the third quarter published / 1st press conference in the German stock exchange
-------------------------------------------------------------------------------- ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
finances/report
Berlin/Frankfurt (euro adhoc) - Total annual revenue 2006 already exceeded: Revenue soars by 74% in the first 9 months Earnings before interest and taxes (EBIT) have grown even more strongly Diversified scalable business model offers further potential for growth
30 November 2007: Hypoport AG, the internet-based provider of financial services (ISIN DE0005493365, ticker symbol: HYQ), today presented its results for the first nine months and the third quarter of the financial year 2007 at a press conference in Frankfurt. These figures demonstrate that Hypoport has been able to continue its strong growth of the first six months into the third quarter.
Year-on-year, revenue in the first nine months increased by 74% to EUR 29.2 million, thus exceeding the revenue of EUR 26.3 million generated throughout the entire year 2006. The third quarter accounted for EUR 10.2 million of total revenue, equivalent to an increase of 49% over the previous year's figure of EUR 6.9 million. The key earnings figures of Hypoport AG showed an even better improvement. Earnings before interest and taxes (EBIT) increased nearly five-fold, amounting to EUR 4.4 million at the end of the nine-month period, following EUR 0.9 million in 2006.
Group net profit increased by 181% from EUR 1.3 million to EUR 3.7 million. According to Prof. Dr. Thomas Kretschmar, Co-CEO of Hypoport AG: "We are very satisfied with business development to date. Our dynamic growth results primarily from the economies of scale generated by our internet-based business model".
Successful development in all business divisions All four business divisions of Hypoport AG contributed jointly to the successful business development. The private clients business unit, which is part of the all-round financial services division and accounts for about 57% of Group revenue, was able to successfully defend its position in a stagnating market environment coupled with unfavourable developments in interest rates. The number of advisors was increased significantly, which resulted among other things in a marked rise in the number of transactions concluded.
In the first nine months, the unit generated revenue of EUR 16.6 million, 60% more than in the same period the previous year (EUR 10.4 million) and contributed EUR 2.8 million (previous year: EUR 1.6 million) to Group EBIT.
The corporate real estate clients business unit pushed ahead with expanding its regional presence, which resulted in an increase in the volume of new business arranged. The unit generated revenue of EUR 4.3 million in the nine-month period, following EUR 2.8 million the previous year, and contributed EUR 1.2 million (previous year: EUR 0.5 million) to EBIT.
The B2B financial marketplaces business division comprises the business units of financial service providers and institutional clients. The financial service providers unit, which is the second largest business unit and accounts for about 21% of Group revenue, even managed to demonstrate stronger growth than the private clients unit. In the first nine months, revenue increased by 75% from EUR 3.4 million to EUR 5.9 million. The development of the mortgage financing segment was particularly successful, with transaction volumes witnessing a further considerable increase in the third quarter. The number of sales organisations that actively use the EUROPACE online marketplace also increased tangibly. At EUR 3.1 million, the financial service providers unit contributed the largest share to Group EBIT (previous year: EUR 1.5 million).
The fourth and smallest business unit - institutional clients (IC) - witnessed the strongest growth in revenue: from EUR 0.1 million in the first nine months 2006 to EUR 1.7 million in the period under review. This growth was mainly due to the acquisition of Hypoport Netherlands B.V. at the end of 2006 and to an increase in the number of clients. EBIT generated by this business unit improved to EUR -0.6 million compared with the previous year (EUR -0.9 million). IC is still a young business unit that is currently in the investment phase.
Huge potential Backed up by its successful business development over the current year, Hypoport AG is looking optimistically to the future. Over the coming months, the company will continue to focus on pursuing its strategic aim of making the Hypoport Group one of the leading vendors of financial services. Hypoport aims to further strengthen its market position in spite of a stagnating market environment, which is not expected to witness any appreciable recovery in the fourth quarter either. According to Kretschmar: "Our diversification within the Group puts us in an excellent position from which to benefit from the changes to the financial services market. We believe that the trend towards using the internet as a source of information relating to financial service products coupled with the subsequent advice provided by independent financial advisers will continue to show dynamic progress. And these are precisely the market needs served by Hypoport's business model".
More detailed information on Group development over the first nine months and in the third quarter 2007 can be found in the current third-quarter report, which can be downloaded from the Investor Relations / Publications section at www.hypoport.de.
About Hypoport AG The Hypoport Group is an internet-based all-round financial services provider. Its business model consists of two reciprocally beneficial pillars - the sale of financial products and the provision of a platform for transacting financial products via the internet.
Dr. Klein & Co. AG, Hypoport's wholly owned subsidiary, provides banking and finance products - ranging from current accounts to insurance policies to mortgage financing - to private clients via the internet and, if requested, offers advice both over the telephone or face-to-face. Dr. Klein & Co. AG is an independent company that selects the best products for the client from a wide range offered by more than 100 well-known banks and insurance companies. The web-based processes generate cost benefits that are passed on to the private clients. This enables Dr. Klein to usually offer much better terms than local banks, savings banks or insurance agents. In addition, the corporate property clients division at Dr. Klein, which has been operating since 1954, leads the market for financing municipal and cooperative residential property companies.
Hypoport operates the EUROPACE B2B financial marketplace, which is the largest German online platform for transacting financing products. A fully integrated system links more than 30 banks with several thousand financial advisors, thus enabling the quick and direct agreement of contracts. The platform's highly automated processes generate considerable cost benefits. Nowadays, EUROPACE processes some 400 financing transactions every day. EUROPACE is also used as an information platform for ABS transactions throughout Europe.
DISCLAIMER This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of Hypoport AG is being, or will be, made to the public outside Germany. A prospective offer in Germany would be made exclusively by means of a securities prospectus to be published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Such securities prospectus would at the appropriate time made available free of charge at the offices of Hypoport AG and at the offices of the underwriting banks. This publication and the information contained therein is not for distribution or publication, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan. This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of Hypoport AG in the course of a prospective offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the "Securities Act")) unless they are registered under the Securities Act or exempt from registration. Neither Hypoport AG nor any potential selling shareholders intend to register a prospective offer, or any part thereof, in the United States or to make a public offer of securities in the United States.
end of announcement euro adhoc 30.11.2007 15:49:03 --------------------------------------------------------------------------------
ots Originaltext: Hypoport AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Karen Niederstadt Group Communications Director Telefon: +49(0)30 42086-1930 E-Mail: karen.niederstadt@hypoport.de
Branche: Financial & Business Services ISIN: DE0005493365 WKN: 549336 Börsen: Börse Frankfurt / regulated dealing/prime standard
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