Hypoport SE: business volume rises sharply in Q1 thanks to market share gains and market growth

Operational key figures for Q1 2024

Hypoport SE: business volume rises sharply in Q1 thanks to market share gains and market growth

• Q1 2024 sees the first double-digit year-on-year increase in the Europace transaction volume since the slump in the mortgage finance market
• Volume from cooperative banks and savings banks jumps by 42 per cent and 50 per cent respectively compared with Q1 2023
• Property financing platform for the housing industry and property management platform achieve strong growth of 13 per cent and 50 per cent respectively
• Further rise in the volume of premiums related to insurance portfolios migrated to the SMART INSUR platform
• Difficult market conditions affect VALUE AG’s valuation volume and REM’s financing for SMEs

Berlin, 18 April 2024: In the first quarter of 2024, the majority of Hypoport Group’s business models returned to double-digit percentage increases in their operational key figures compared with the prior-year period. The Hypoport Group’s growth was primarily driven by the business models for mortgage finance and for the German housing industry.

Real Estate & Mortgage Platforms segment: The volume of mortgage finance transactions* processed on Europace rose to €15.1 billion in the first three months of this year, an increase of 17 per cent compared with the same period of 2023. Business from the savings banks and cooperative banks saw particularly strong growth, with the volume of mortgage finance on the Finmas and Genopace sub-marketplaces swelling by 50 per cent to €2.3 billion and by 42 per cent to €3.6 billion respectively. The volume of new mortgage finance brokered by Dr. Klein stood at €1.7 billion in the first quarter of 2024, which was up by 20 per cent compared with the first quarter of 2023.

The value of residential properties inspected or appraised by VALUE AG amounted to just €7.9 billion in the first quarter of 2024. This year-on-year fall of 3 per cent was due to regulatory changes and the delayed recovery of the valuation market.

Financing Platforms segment: The volume of new loans brokered on the property financing platform for the housing industry came to around €0.3 billion in the first three months of 2024, rising by 13 per cent compared with the prior-year period. The portfolio of contracts on the property management platform for the housing industry encompassed more than 310,000 homes as at 31 March 2024, a year-on-year increase of 51 per cent. The volume of new projects acquired in the SME financing business declined by 13 per cent to €0.3 billion in the first quarter of the year amid the challenging market conditions created by constant shifts in the funding support schemes. By contrast, the volume of personal loan transactions on Europace held up well, with a rise of 17 per cent to €1.6 billion.

Insurance Platforms segment: There was further progress with migrating the insurance portfolios from individual solutions to the centralised SMART INSUR platform. The portfolio volume on SMART INSUR grew by 12 per cent compared with the first quarter of 2023 to reach a total of €4.3 billion in the first quarter of this year.

Ronald Slabke, Chief Executive Officer of Hypoport SE, commented on the Hypoport Group’s operating performance as follows: “The trend reversal seen in the mortgage finance market last year, along with the gains in market share that we have made, are once again having a positive impact on our operational key figures in the Real Estate & Mortgage segment. We predicted that the market would recover markedly over the course of 2024, and this is backed up by the successful first quarter. Given the challenges that prevail in some areas of the market, we also view the performance of the business models in the Financing Platforms and Insurance Platforms segments as positive in the first three months of this year. Before the slump in the mortgage finance market, Hypoport had consistently notched up double-digit percentage growth rates. Following a phase of qualitative growth, we are now gradually returning to this level of performance in quantitative terms too.”
 

* All figures on the volume of financial products processed (mortgage finance, building finance (‘Bausparen’) and personal loans) are stated before cancellations and, consequently, cannot be compared directly with the revenue figures shown, which exclude subsequent cancellations. Neither the revenue nor the earnings generated by Hypoport can be directly extrapolated from the transaction figures given above.

** Sales days are defined as the number of bank working days less half of the number of ‘bridging days’ (days falling between public holidays and weekends).

About Hypoport SE

Hypoport SE is headquartered in Lübeck (Germany) and is the parent company of the Hypoport Group. The Group is a network of technology companies for the credit, housing and insurance industries with a workforce of more than 2,000 employees. It is structured in three operating segments: Real Estate & Mortgage Platforms, Insurance Platforms and Financing Platforms.

The Real Estate & Mortgage Platforms segment operates Europace, which is an online B2B lending marketplace and the largest German platform offering mortgage finance. A fully integrated system links approximately 800 partners – banks, building finance associations, insurers and financial product distributors. Besides Europace, the joint ventures Finmas (Savings Banks Finance Group), Genopace (Cooperative Financial Network), Starpool (Deutsche Bank) and Baufinex (Bausparkasse Schwäbisch Hall) support the growth of the credit marketplace in various target groups. Dr. Klein, the largest franchise system for non-captive mortgage finance advice for consumers, is also assigned to this segment. Moreover, the Qualitypool brokerage pool, the FIO property sales platform for bank-affiliated estate agents and the Value AG property valuation platform are a key part of the value chain for homebuyers.

The Financing Platforms segment comprises all technology and advisory companies in the Hypoport Group that cover finance products other than mortgage finance. It has a particular focus on finance for the housing industry (Dr. Klein WoWi and FIO Finance), corporate finance (REM Capital) and personal loans (Europace).

In the Insurance Platforms segment, Smart Insur provides a web-based B2B platform for insurance products with variable pricing for private individuals and small businesses, supported by the Qualitypool brokerage pool and the underwriter Sia. The segment also includes ePension, a platform for occupational insurance products, and Corify, a platform for the tendering and management of industrial insurance policies.

The shares of Hypoport SE are listed in the Prime Standard segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX or MDAX indices since 2015.

Contact:

Jan H. Pahl
Head of Investor Relations // IRO

Tel: +49 (0)30 42086 1942
Mobile: +49 (0)176 9651 2519
Email: ir@hypoport.de
 

Hypoport SE

Heidestrasse 8

10557 Berlin, Germany

www.hypoport.com
 

2024 financial calendar:

6 May 2024: Interim management statement for the first quarter of 2024

12 August 2024: Report for the first half of 2024

11 November 2024: Interim management statement for the third quarter of 2024