EANS-News: Hypoport AG starts the year on a high
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quarterly report
Berlin, 9 May 2011 (euro adhoc) - Hypoport achieved impressive year-on-year improvements in its revenue and earnings in the first quarter of 2011. Its revenue jumped by 46.3 per cent to EUR17.7 million (Q1 2010: EUR12.1 million). All business units increased their revenue. This led to an EBITDA of EUR2.3 million (Q1 2010: - EUR28 thousand).
This revenue growth enabled the Company to raise its gross profit by 45.3 per cent to EUR10.4 million (Q1 2010: EUR7.1 million). "This strong first-quarter performance is particularly encouraging because our business does not usually pick up until later in the year", explained Ronald Slabke, Chief Executive Officer of Hypoport AG. The Hypoport Group continued to invest heavily in its cutting-edge B2B financial marketplaces EUROPACE, GENOPACE and FINMAS in the first three months of 2011 in order to extend its market lead across all business units. "Given their ever more regulated environment and the severe competitive pressures under which they operate, it is evident that financial product distributors and banks are increasingly becoming aware of and exploiting the networking and automation potential offered by EUROPACE, GENOPACE and FINMAS", added Slabke. The Company's Private Clients business unit more than doubled the volume of business it transacted in life insurance, general insurance and private health insurance. In addition, Hypoport continued to expand its branch network as part of its distribution of financial products under the Dr. Klein brand. It now has 577 finance specialists who advise the Dr. Klein clients acquired over the internet. This represents a year-on-year increase of 120 professionals. The growth generated in the Corporate Real Estate Clients business unit enabled Dr. Klein to further consolidate its position as market leader.
Slabke was confident about the outlook for the rest of 2011: "Assuming that market conditions remain stable, we expect to achieve double-digit revenue growth and a net profit in line with last year's record figure".
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Further inquiry note:
Michaela Reimann
Group Communications Manager
Telefon: +49 (0) 30 42086 1936
E-Mail: michaela.reimann@hypoport.de
Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Original content of: Hypoport AG, transmitted by news aktuell