Börse Express – Hypoport – So far it has been under the radar (share in focus)

One thing has to be left to Slabke: If the manager promises double-digit growth rates, it works like a kind of mantra. The fact that the financial service provider’s absolute balance sheet indicators sometimes fall short of the expectations of analysts and investors often takes a back seat.

That was the case when the figures for the fourth quarter of last year were presented. Revenues and operating profit fell short of expectations, but the growth rate met expectations. And so it was when Hypoport set its goals for 2021. The targeted figures for sales and operating profit were not convincing, but Slabke promised “dynamic growth” for “many more years”.

In both cases the share price fell. But when there were the first indications of business development in April, investors jumped on it. Even in mid-July, when the growth of the in-house financing platform Europace weakened, Slabke was able to focus on the positive things: “We were able to significantly increase the volumes of our B2B platforms in only slightly growing or even slightly declining overall markets,” he said Look at the numbers for the second quarter.

There are companies in the Hypoport corporate network that offer digital solutions for the banking industry, the housing market and for insurance companies. The largest segment is Europace, a platform for the financing of real estate, building society products and installment loans. Hypoport was the result of the merger of Dr. Klein & Co. AG and Europace AG emerged. As managing director at Dr. Started small and took over Hypoport in 1999 in a so-called management buyout that he organized. According to its own information, the company now employs around 2,200 people.

The business model is grouped into four segments. Loans for the real estate and construction industries are sold via the Europace B2B lending marketplace. Hypoport also offers support in the digital marketing, valuation and management of real estate. In the Private Customers segment, Hypoport maintains consumer finance sales and operates, among other things, the Dr. Klein undvergleich.de. In the fourth segment, Hypoport offers corporate customers, among other things, a platform for managing insurance policies.

The booming real estate market and the need for digitization have been driving Hypoport for many years. In the first quarter, however, Hypoport suffered a dent in growth in terms of business development. In the second quarter of the year, however, there was a stronger upward trend.

This boost came primarily from the brokerage of loans: Hypoport’s largest division with its Europace loan marketplace increased its revenues by 22 percent in the second quarter of the year. And also the private customer business of Dr. Klein, the real estate platform and the insurance platform recently posted double-digit percentage growth between April and June.

Slabke was certain: “In the long term, the digitization of the credit, insurance and housing industries will continue to advance.” So he also promised double-digit percentage growth in sales and earnings for the years after 2021.

The stock:

For many years, Hypoport’s papers actually only knew one direction – and that was a steep upward trend. In the past five years, the financial services company’s share price has increased more than sevenfold. But for about a year now, the share has gone into a steep uphill and downhill slide. Over the past 52 weeks, the exchange rate fluctuated between 400 and 618 euros …

More about the share and the analysts …

From the Börse Express PDF from September 10th – here for free Download.

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