from Hypoport AG (isin : DE0005493365)
EQS-Adhoc: Hypoport SE: Losses in Real Estate Platform segment 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 impact second quarter and lead to forecast adjustment
31-Jul-2023 / 20:48 CET/CEST
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Hypoport SE: Losses in Real Estate Platform segment impact second quarter and lead to forecast adjustment
Berlin, 31 July 2023: At today's Management Board meeting, Hypoport’s preliminary business figures for Q2 2023 were evaluated. On this basis, the Hypoport Management Board expects the following results:
The development compared to Q1 2023 is as follows:
- Revenue Q2 2023: approx. -9% to € 85 mn (Q1 2023: € 94 mn)
- EBITDA Q2 2023: approx. -30% to € 6 mn (Q1 2023: € 9 mn)
- EBIT Q2 2023: € -2.5 mn (Q1 2023: € 0.8 mn)
While the Credit Platform segment - despite a merely stable market environment - and the Insurance Platform segment performed slightly positively, weak development in the Real Estate Platform segment was the reason for the Group's negative revenue and earnings performance. This was due to a sharp decline in valuation volumes and in the volume of financing for the institutional housing industry.
Due to the unexpected weak performance in the Real Estate Platform segment and the still muted market recovery in mortgage business for end consumers, Hypoport is adjusting its forecast for the 2023 financial year as follows:
Assuming a slight recovery in the mortgage market in the second half of the year, Hypoport's Management Board expects revenue to fall by up to 15 per cent and Group EBIT to be at least €10 mn.
The development compared to Q2 2022 is therefore as follows:
- Revenue Q2 2023: approx. -30% to € 85 mn Euro (Q2 2022: € 126 mn)
- EBITDA Q2 2023: approx. -70% to 6 mn Euro (Q2 2022: € 21 mn)
- EBIT Q2 2023: -2.5 mn Euro (Q2 2022: € 13 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 summer 2022.
Hypoport will publish its Q2 statement as planned on Monday 14 August 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
31-Jul-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: | 1692453 |
| End of Announcement | EQS News Service |
1692453 31-Jul-2023 CET/CEST