EANS-News: Hypoport AG expands market share significantly
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- quarterly report Berlin, 7 November 2011 (euro adhoc) - The strategy of expansion rigorously pursued in the first nine months of 2011 enabled the Hypoport Group to raise its revenue by an impressive 31 per cent to EUR58.8 million. The Company also increased its EBITDA by 13 per cent. A comparison between the first nine months of this year and the corresponding period of 2010 clearly illustrates that the Hypoport Group generated double-digit percentage growth in all its revenue and earnings figures. Chief Executive Officer (CEO) Ronald Slabke commented: "What people are now looking for from financial services more than ever before is safety, security, transparency and, above all, impartial advice that takes a holistic view of their needs. Our business models, our cutting-edge technology and the expert advice provided by our inhouse sales professionals satisfy these client preferences and explain the success of our organisation". Revenue rose by 31 per cent to EUR58.8 million (Q1-Q3 2010: EUR44.9 million). All business units contributed to this growth. Gross profit advanced by 19 per cent to EUR32.2 million on the back of the significant expansion of market share (Q1-Q3 2010: EUR27.1 million). Consequently, earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 13 per cent to EUR7.8 million (Q1-Q3 2010: EUR6.9 million). The Financial Service Providers business unit benefited from benign economic conditions and the considerable market reach of the Europace, Genopace and Finmas marketplaces. Revenue growth was boosted by our Europace technology's market penetration - which continued to make progress as a result of the capital expenditure committed in recent years - and strong demand for real estate. The Private Clients business unit continued to strengthen its regional footprint in both branch-based and agent sales. This segment is expanding beyond its traditional core competence of mortgage finance by generating substantial growth from its business in insurance products. In the third quarter of this year the Corporate Real Estate Clients business unit successfully closed the big-ticket deals that it had announced in the previous quarter. By obtaining new funding partners from the insurance industry it managed to further consolidate its market leadership and improve the terms and conditions offered to its customers. Institutional Clients - the smallest of the business units - also successfully defended its position as market leader and, consequently, made a valuable contribution to revenue growth. Slabke still expects to see a significant double-digit increase in revenue and very little year-on-year change in net profit for the year as a whole. Information on Hypoport AG As an independent financial product distributor that runs a B2B financial marketplace, Hypoport operates successfully in two mutually reinforcing segments. It always provides the simplest access to the best financial services. In the form of EUROPACE - its online financial marketplace - Hypoport develops and operates the largest German platform offering mortgages, building finance products and personal loans. A fully integrated system links more than 160 partners - banks, insurers and financial product distributors. Several thousand users execute roughly 10,000 financing transactions worth a total of up to EUR2 billion on EUROPACE every month. The Hypoport subsidiary Dr. Klein & Co. AG is an independent online distributor of financial products. This firm's specialists provide private clients with a full range of advisory services around mortgage finance, insurance and investments. Dr. Klein & Co. AG has been a major financial service partner to housing companies, local authorities and commercial property investors since 1954. Hypoport AG is headquartered in Berlin, employs more than 450 people and is listed in the Prime Standard of the Frankfurt Stock Exchange. Further inquiry note: Michaela Reimann Group Communications Manager Telefon: +49 (0) 30 42086 1936 E-Mail: michaela.reimann@hypoport.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: Hypoport AG Klosterstraße 71 D-10179 Berlin phone: +49(0)30 42086-0 FAX: +49(0)30 42086-1999 mail: ir@hypoport.de WWW: http://www.hypoport.de sector: Financial & Business Services ISIN: DE0005493365 indexes: CDAX, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt language: English
Original content of: Hypoport AG, transmitted by news aktuell