from Hypoport AG (isin : DE0005493365)
EQS-Adhoc: Hypoport SE: Losses in Real Estate Platform segment also impact second quarter and lead to forecast adjustment
EQS-Ad-hoc: Hypoport SE / Key word(s): Quarter Results/Change in Forecast
Hypoport SE: Losses in Real Estate Platform segment also impact second quarter and lead to forecast adjustment
26-Oct-2023 / 19:44 CET/CEST
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Hypoport SE: Losses in Real Estate Platform segment also impact second quarter and lead to forecast adjustment
Berlin, 26 October 2023: At today's Management Board meeting, Hypoport’s preliminary business figures for Q3 2023 were evaluated. On this basis, the Hypoport Management Board expects the following results:
The development compared to Q2/23 is as follows:
- Revenue Q3/23: approx. +3% to € 88 mn (Q2/23: € 85 mn)
- EBITDA Q3/23: approx. +25% to almost € 8 mn (Q2/23: € 6.2 mn)
- EBIT Q3/23: approx. € -1 mn (Q2/23: € -2.5 mn)
In addition to an improvement in revenue from the mortgage business for end consumers (Credit Platform segment and Private Clients segment) and the insurance industry (Insurance Platform segment), slightly lower costs also contributed to the development of earnings. In the Real Estate Platform segment, slightly lower revenues and high investments also led to start-up losses in Q3/23.
The development compared to Q3/22 is therefore as follows:
- Revenue Q3/23: approx. -15% to € 88 mn (Q3/22: € 105 mn)
- EBITDA Q3/23: approx. -15% to almost € 8 mn (Q3/22: € 9 mn)
- EBIT Q3/23: approx. € -1 mn (Q3/22: € 0.8 mn)
The main reason for the significant year-on-year decline in revenue and earnings was a significant slump in the private mortgage market from late summer 2022.
Due to the continued weak performance in the real estate platform segment and the still subdued market recovery in mortgage business for end consumers, Hypoport is reducing its revenue forecast for the 2023 financial year and specifying its EBIT forecast.
Hypoport's Management Board now expects revenue to decline by up to 25 per cent year-on-year and consolidated EBIT to be in the range of €10-15 million.
Full-year EBIT will be achieved through several net positive one-off effects, such as removed purchase price liabilities from a debtor warrant and expenses for the reorganization within the Real Estate Platform segment.
Hypoport will publish its Q3 statement as planned on Monday 13 November 2023.
Contact
Jan H. Pahl
Head of Investor Relations // IRO
Phone: +49 (0)30 / 42086 - 1942
Mobile: +49 (0)176 / 965 125 19
Email: ir@hypoport.de
Hypoport SE
Heidestr. 8
10557 Berlin
Germany
Key data on Hypoport's shares
Hypoport SE
Regulated Market in Frankfurt (Prime Standard)
ISIN DE0005493365 / WKN 549336 / Stock exchanges symbol HYQ
End of Inside Information
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| Language: | English |
| Company: | Hypoport SE |
| Heidestraße 8 | |
| 10557 Berlin | |
| Germany | |
| Phone: | +4930420861942 |
| Fax: | +49/30 42086-1999 |
| E-mail: | ir@hypoport.de |
| Internet: | www.hypoport.de |
| ISIN: | DE0005493365 |
| WKN: | 549336 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1758693 |
| End of Announcement | EQS News Service |
1758693 26-Oct-2023 CET/CEST