Hypoport Displays Resilience in Challenging Market Conditions, Eyes 2024 for Growth

Hypoport SE, a network of technology companies serving the credit, real estate, and insurance industries, reported a 21% decrease in revenue to €360 million for the year 2023. This decline is attributed to a 40% reduction in Germany’s mortgage finance market. Despite these conditions, the company managed to gain market share and diversify its business models, which mitigated the impact on its earnings before interest and taxes (EBIT), which fell to €13 million from €25 million in 2022.

In response to the market downturn, Hypoport implemented a series of strategic actions including cost reduction, a capital increase of €50 million, and price adjustments for its services. These measures enabled the company to save approximately €35 million annually. Moreover, the company restructured its operations into three segments: Real Estate & Mortgage Platforms, Financing Platforms, and Insurance Platforms, aiming to streamline its business and enhance efficiency.

CEO Ronald Slabke reflected on 2023 as a transitional year, expecting a significant improvement in 2024 with forecasted revenue of at least €400 million and EBIT between €10 million and €20 million. The company attributes this optimistic outlook to its strategic adjustments and an anticipated recovery in the mortgage finance market.