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Hypoport: Earnings decline – shares under great pressure

Hypoport presented preliminary figures for the third quarter early on Wednesday evening. Turnover was 95 million euros after 91 million euros in the same quarter of the previous year. Before interest and taxes, Hypoport’s profit fell from 9 million euros to 7 million euros. On a nine-month basis, the Berlin-based company reports an increase in sales from 248 million euros to 285 million euros and a decline in earnings before interest and taxes from 25 million euros to 24 million euros.

“The lower EBIT in the third quarter compared to the same period in the previous year is mainly the result of the strategically intended discontinuation of project business in the real estate platform and insurance platform segments,” said Hypoport.

The company plans to present complete quarterly figures on November 2nd. The Hypoport share price is currently falling significantly. The stock ended XETRA trading at EUR 545, down 2.33 percent, but current indications are only EUR 480.50 / 487.50.

At a glance – chart and news: Hypoport

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