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Hypoport AG

EANS-News: Hypoport AG
Q1 results: Holding course in strong cross winds

Berlin (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
balance/banks/companies/finances/insurances/real estate/shares/stock 
market
15 May 2009: Hypoport AG was again able to
increase revenues in the first quarter 2009. The smaller business 
units, in particular, proved to be very successful, contributing 
strongly towards the overall result. The financial service provider 
is currently outperforming its competitors in terms of revenue and 
earnings.
Hypoport, Berlin-based provider of financial services, was able to 
further expand its market shares in the first quarter 2009. Revenue 
increased by 4 percent to EUR 12.7 million (previous year: EUR 12.2 
million). Gross profit even increased by 11 percent to EUR 8.7 
million (previous year: EUR 7.9 million). The rising costs of setting
up both a new Europace platform and a regional distribution network 
for Dr. Klein caused EBITDA to decline by 14 percent to EUR 2.1 
million. According to Ronald Slabke, Co-CEO at Hypoport AG: "The 
result is excellent, given the current market conditions. We are the 
only listed financial products distributor in the Prime Standard that
has been able to increase its revenue in the first quarter 2009. And 
in spite of a decline we still rank first in terms of key earnings 
figures. Our competitors suffered much larger slumps in earnings."
The smaller business units proved to be particularly successful. The 
Corporate Real Estate Clients business unit increased its revenue by 
12.2 percent to EUR 2.1 million and made a substantial contribution 
towards the overall result. Following the successful sale of the 
loss-making business division for ABS investors, the Institutional 
Clients business unit is also back in the black. It actually managed 
to increase its revenue by 39 percent to EUR 0.8 million. The Private
Clients and Financial Service Providers business units were adversely
affected by fewer mortgage finance transactions. The Private Clients 
business unit was able to compensate this fluctuation in demand with 
earnings from other product segments - and in doing so, to increase 
its revenue by 1.3 percent - whereas the Financial Service Providers 
business unit was able to successfully acquire several new product 
providers for the Europace platform. Nevertheless, the Financial 
Service Providers business unit suffered a 7 percent dip in revenue, 
mainly because January was such a weak month.
Following the massive expansion of its branch distribution activities
and now that the development of a new Europace platform, which is 
also suitable for other banking sectors, has been completed, Hypoport
Group is targeting a revenue increase to more than EUR 100 million 
per year over the medium term and EBIT margins that are well into the
double digits. In light of the uncertainties surrounding the crisis 
on the financial markets, the Group´s management expects revenue to 
increase slightly and EBIT to remain stable in 2009.
end of announcement                               euro adhoc

Further inquiry note:

Michaela Reimann
Group Communications Manager
Telefon: +49 (0) 30 42086 1936
E-Mail: michaela.reimann@hypoport.de

Branche: Financial & Business Services
ISIN: DE0005493365
WKN: 549336
Börsen: Frankfurt / regulated dealing/prime standard

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