EQS-Ad-hoc: Hypoport SE / Key word(s): Quarterly Results/Change in Forecast
Hypoport SE: Losses in the real estate platform segment impact the second quarter and lead to forecast adjustments
31.07.2023 / 20:48 CET/CEST
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Hypoport SE: Losses in the real estate platform segment impact the second quarter and lead to forecast adjustments
Berlin, July 31, 2023: The preliminary business figures for the Hypoport Group for the second quarter of 2023 were evaluated at today’s Management Board meeting. On this basis, the Hypoport Management Board expects the following earnings trend:
The development compared to Q1 2023 is therefore as follows:
Sales Q2 2023: approx. -9% to EUR 85 million (Q1 2023: EUR 94 million) EBITDA Q2 2023: approx. -30% to EUR 6 million (Q1 2023: EUR 9 million) EBIT Q2 2023: -2.5 million euros (Q1 2023: +0.8 million euros)
While the credit platform segment and the insurance platform segment both developed slightly positively despite an only stable market environment, weak development in the real estate platform segment was the reason for the negative development of the Group’s sales and earnings. This was due to a sharp decline in the valuation volume and the financing volume for the institutional housing industry.
Due to the unexpectedly weak development in the real estate platform segment and the still muted market recovery in private real estate financing, Hypoport is adjusting its forecast for the 2023 financial year as follows:
Assuming a slight upturn in the real estate financing market in the second half of the year, the Hypoport Management Board expects revenue to fall by up to 15 percent and consolidated EBIT to be at least EUR 10 million.