EQS-Adhoc: Hypoport SE: Decline of revenue and EBIT expected for Q3 2022. Annual forecast is suspended.EQS
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Hypoport SE: Decline of revenue and EBIT expected for Q3 2022. Annual forecast is suspended.
Berlin, 22 September 2022: At today's Management Board meeting, the Hypoport Group's forecast were evaluated based on an updated forecast. On the basis of this figures, the Hypoport Management Board expects revenue for the third quarter of 2022 to be slightly below last year's level and EBIT to break even.
The second half of the year has so far shown very weak demand in private and institutional real estate finance and in corporate finance business. Despite a significant increase in the supply of real estate and slight price declines, consumers in Hypoport's main market of residential mortgage finance are holding back on property purchases because of the combination of soaring interest rates, extreme inflation and fears of recession as well as speculation on stronger declining property prices.
The current forecast for the year will be clearly missed. Because the Management Board cannot predict whether consumers' reluctance to close mortgage loans will end later this year, it is suspending its forecast for the current financial year 2022.
The Hypoport Management Board has initiated measures to bring its cost levels into line with the current market environment.
Jan H. Pahl
Head of Investor Relations // IRO
Phone: +49 (0)30 / 42086 - 1942
Mobile: +49 (0)176 / 965 125 19
Key data on Hypoport's shares
Regulated Market in Frankfurt (Prime Standard)
ISIN DE0005493365 / WKN 549336 / Stock exchanges symbol HYQ
22-Sep-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1448753|
|End of Announcement||EQS News Service|
1448753 22-Sep-2022 CET/CEST