Hypoport Se · XETR:HYQ
Hypoport — Q1 2026 Earnings Presentation
40 slides from Hypoport's earnings presentation, May 11, 2026
Slide 1: Hypoport SE Results for Q1 2026
Hypoport SE Results for Q1 2026
Slide 2: Contents
Contents 1. Summary 2. Segments 3. Group 4. Outlook Annex
Slide 3: Profitable growth in disparate markets
Profitable growth in disparate markets Results for Q1 2026 (€ million, yoy) (€ million) Group Real Estate & Financing Insurance Mortgage Platforms Platforms Platforms Gross profit 71 +8% 43 +6% 18 +7% 9 +14% EBIT 12.1 +40% 13.7 +8% 2.1 >+100% 0.6 >+100% EBIT margin 17% +4pp 32% +1pp 12% +9pp 7% +5pp
Slide 4: Real Estate & Mortgage Platforms
Real Estate & Mortgage Platforms Business model & results Marketing Real Estate & Financing Finance (sales) Mortgage Platforms Platforms Finance (platform) Insurance Platforms Valuation Hypoport SE, Q1 2026 results 4
Slide 5: Excessive regulation in the rental market drives home ownership
Excessive regulation in the rental market drives home ownership Macroeconomic factors affecting mortgage finance 6 140 Interest (%, ten-year fixed rate, Europace average) Property prices (EPX hedonic, indexed) 5 130 4 New builds 3 120 2 Existing housing stock 110 1 Apartments 0 100 260 130 240 Prope
Slide 6: Regional banks still have significant untapped market potential
Regional banks still have significant untapped market potential Real Estate & Mortgage: mortgage finance market share, by distribution channel Q1 2016 (€60 billion) Q1 2026 (€62 billion) Brokers Cooperative ~20% banks Cooperative ~25% Brokers banks ~30% ~30–35% ~50% ~60% ~2% ~25% ~33% ~2% ~20% Priva
Slide 7: Volume on a par with strong Q1/25 due to jump in interest rates
Volume on a par with strong Q1/25 due to jump in interest rates Real Estate & Mortgage: volume of mortgage finance* Europace total Finmas (savings banks) (€ billion) (€ billion) 85 +0% +15% 77 75 66 52 20.3 11 20.3 10 9 10 3.5 7 3.0 2021 2022 2023 2024 2025 Q1/25 Q1/26 2021 2022 2023 2024 2025 Q1/25
Slide 8: Purchases of existing stock and new builds remain key drivers
Purchases of existing stock and new builds remain key drivers Real Estate & Mortgage: mortgage finance, by purpose 30 25 4 20 3 2 2 3 7 3 1 1 2 2 1 1 3 1 1 4 15 6 5 1 2 5 4 1 3 2 5 5 3 3 3 4 1 1 3 2 2 2 1 2 2 4 4 2 1 1 1 2 10 2 3 3 1 2 2 2 3 2 3 15 14 14 13 12 12 12 13 12 13 12 11 12 12 11 11 11 5 9
Slide 9: Rise in gross profit and a disciplined approach to costs
Rise in gross profit and a disciplined approach to costs Real Estate & Mortgage Platforms: key figures* +3% • Slight contraction in Starpool’s pool business due to the Revenue (€ million) joint venture partner’s strategic realignment in the 123 127 mortgage finance business, which is holding back gr
Slide 10: Financing Platforms
Financing Platforms Business model & results Housing sector Real Estate & Financing Corporate finance Mortgage Platforms Platforms Personal loans Insurance Platforms Hypoport SE, Q1 2026 results 10
Slide 11: Platformisation of the housing industry
Platformisation of the housing industry Financing (housing sector): digital business models Dr. Klein Wowi Finanz Dr. Klein Wowi Digital FIO Finance • WOWIFIN: Platform for calls for tender (DKWF) (DKWD) and financing processes • WOWICONTROL: Portfolio and business management for housing WOWI compan
Slide 12: Outstanding performance despite subdued market conditions
Outstanding performance despite subdued market conditions Financing (housing sector): key figures for Dr. Klein Wowi Brokered mortgage finance Units in ERP under contract (WOWIPORT) (€ billion) (thousands) +33% +37% 665 710 2.0 2.0 533 1.2 1.2 1.4 0.2 0.3 103 415 187 291 2021 2022 2023 2024 2025 Q1/
Slide 13: Good start to the year as a result of increasingly active clients
Good start to the year as a result of increasingly active clients Financing (corporate finance): key figures for REM Capital • Climate change mitigation, energy costs and competitive Billed project volume at REM Capital (€ billion) pressure are driving a structural increase in appetite for investmen
Slide 14: Resilience in a solid market environment
Resilience in a solid market environment Financing (personal loans): key figures for personal loans via Europace • Despite the economic backdrop, the overall market volume Volume of personal loan transactions* (€ billion) of new personal loans in Germany rose slightly in Q1. +12% • Platform business
Slide 15: Organic growth in the absence of any significant market impetus
Organic growth in the absence of any significant market impetus Financing Platforms: key figures +9% • Ongoing sluggish market conditions and, in some Revenue (€ million) instances, diminishing market volumes across all three 19 21 product groups (housing industry, corporate finance and personal loa
Slide 16: Insurance Platforms
Insurance Platforms Business model & results Personal insurance Real Estate & Financing Mortgage Platforms Occupational Platforms insurance Industrial insurance Insurance Platforms Hypoport SE, Q1 2026 results 16
Slide 17: Platformisation of the insurance industry
Platformisation of the insurance industry Insurance Platforms segment: business model End customers// employees & Advisors/brokers Poolers B2B Underwriting agent Product suppliers companies insurance platform Insur apps Insur apps Advisors in bank branches Sia Other SMART INSUR brokers Quality- pool
Slide 18: Progress with migration to platforms
Progress with migration to platforms Insurance: volume managed on the platforms SMART INSUR – personal insurance (€ billion) ePension – occupational insurance (€ billion) +19% 5.7 +27% 4.7 5.6 4.8 3.8 4.1 3.4 1.9 2.5 0.1 0.2 0.2 0.3 0.3 0.3 0.4 2021 2022 2023 2024 2025 Q1 2025Q1 2026 2021 2022 2023
Slide 19: Operating wins even before monetisation
Operating wins even before monetisation Insurance Platforms: key figures +24% • Growth rate of the overall insurance market has been Revenue (€ million) mostly lower than inflation for years 21 17 • M&A activity in the market is fuelling consolidation among distributors, raising the pressure to go d
Slide 20: Successful Q1 with significant improvement in EBIT
Successful Q1 with significant improvement in EBIT Overview of Hypoport’s results (€ million, yoy*) Revenue (€ million) +6% Gross profit (€ million) +8% 169 71 159 66 Q1 2025 Q1 2026 Q1 2025 Q1 2026 EBITDA (€ million) +16% EBIT (€ million) +40% 20 12 17 9 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Hypoport SE,
Slide 21: Hypoport aiming for record-breaking year in 2026
Hypoport aiming for record-breaking year in 2026 Long-term changes in gross profit and EBIT Established Upscaling and Qualitative growth Start-up despite fin. crisis expansion in periods of crisis Gross profit (€ million)* 249 266 241 209 50 71 3 24 1999 2006 2013 2021 2023 2024 2025 Q1 2026 EBIT (€
Slide 22: AI has been improving our platforms since 2017
AI has been improving our platforms since 2017 Examples and vision for the role of AI in Europace Examples of AI-based functions (since 2017) AI and Europace in 2030 • Indication of affordability & payment instalments • Partners use Europace via open APIs and MCP • Probability of lead conversion • I
Slide 23: Europace is the ideal integration infrastructure
Europace is the ideal integration infrastructure Vision of the role of AI/agents in 2030 Consumers AI agents Advisors/brokers B2B 800 product suppliers lending marketplace Private Dr. commercial Klein banks Specialised AI Other EUROPACE Savings banks brokers Generative LLMs Advisors in Cooperative b
Slide 24: EBIT target range for 2026 dependent on three factors
EBIT target range for 2026 dependent on three factors Reconciliation of 2025’s EBIT to the guidance for 2026 EBIT (€ million) 55 4 to 6 5 to 6 -2 to +10 40 33 2025 Loss reduction Gains in market share Market growth 2026 Loss reduction in the property valuation platform (VALUE AG), the ERP solution f
Slide 25: Outlook for 2026–2029
Outlook for 2026–2029 Efficiency gains & Additional cost products & discipline increased integration Growing mortgage finance market Rising EBIT gross profit margin Hypoport SE, Q1 2026 results 25
Slide 26: Forecast for 2026 and up to 2029
For years Forecast for 2026 Forecast up to 2029 Hypoport has been Gross profit rising to at least Doubling of the generating double-digit €280 million and EBIT to €40– EBIT gross profit margin increases in market 55 million compared with 2025 and share and thus, in continued growth in gross normal m
Slide 27: Contact
Contact Jan H. Pahl Hypoport SE Head of Investor Relations Heidestrasse 8 Tel: +49 (0)30 420 86 1942 10557 Berlin Email: ir(at)hypoport.de Germany Click here to subscribe to the IR mailing list (German only) Click here to subscribe to the IR mailing list (English) Hypoport SE, Q1 2026 results 27
Slide 28: Disclaimer
Disclaimer This presentation does not address the investment objectives or financial situation of any particular person or legal entity. Investors should seek independent professional advice and perform their own analysis regarding the appropriateness of investing in any of our securities. While Hyp
Slide 29: Annex
Annex Hypoport SE, Q1 2026 results 29
Slide 30: Just under 50% of the shares held by management & co.
Just under 50% of the shares held by management & co. Shareholder structure and share information Breakdown of shareholders as at 30 April 2026 Key performance indicators KPI Details Value Number of Total number of shares 6,872,164 ~15% shares 32.4% Market capitalisation as at Market cap ~€0.6 bn 7
Slide 31: Share price performance against the index over last 10 years
Share price performance against the index over last 10 years Share price since the date of joining the SDAX (daily closing price, Xetra, €) HYQ SDAX MDAX % € 650 550 704 450 576 350 448 250 320 150 192 50 64 Oct Oct Oct Oct Oct Oct Oct Oct Oct Oct Apr Jul Apr Apr Apr Jul Jul Jul Apr Jul Apr Jul Apr
Slide 32: Hypoport's investor relations activity
Hypoport’s investor relations activity Investor events, professional analysts’ assessments, awards Recommend Target Recent IR events (conferences and roadshows) Analyst Date ation price Frankfurt, Hamburg, London. Planned: Frankfurt, Bankhaus Metzler Hold €89.00 16 April 2026 2026 London (2x), New Y
Slide 33: Investment highlights
Investment highlights ~15% GROWTH IN GROSS PROFIT 10-year 25+ YEARS CAGR of experience with platform- based business models ~10% EBIT INCREASE 10-year CAGR 81% OF OUR EMPLOYEES are satisfied or very satisfied with Hypoport as 15+ ACQUISITIONS an employer in 10 years Hypoport SE, Q1 2026 results 33
Slide 34: Digitalisation of private residential property purchases
Digitalisation of private residential property purchases Real Estate & Mortgage Platforms business model Broker CRM Distribution of B2B Property Consumers Poolers Product suppliers financial products lending marketplace valuation Online comparison Private sites commercial Other banks advisors EUROPA
Slide 35: Market volume still well below trend range
Market volume still well below trend range Volume of private mortgage finance in Germany 80 Freedom of 70 movement for EU Market growth driven by rising property prices; employees number of transactions virtually unchanged 60 Vacancy rates in Lack of growth stimulus in the market major cities coming
Slide 36: Home ownership is increasingly becoming the only viable option
Home ownership is increasingly becoming the only viable option Key reasons for home ownership and the macro-level drivers Housebuilding remains a heavily regulated Desire for home ownership remains high sector n Li Transfer taxes on residential property have tio f Planning a family continues to be t
Slide 37: Sparse rental supply is pushing up real estate purchases
Sparse rental supply is pushing up real estate purchases The drivers of growth in the mortgage finance market 160 Market of the future Apartments offered for sale (number) Apartments offered to rent (number) • Regulation is reducing tenant 140 turnover in the existing rental housing stock (lock-in e
Slide 38: Rising property prices are driving up the total lending volume
Rising property prices are driving up the total lending volume The drivers of growth in the mortgage finance market 220 7 Prices of existing apartments Market of the future Prices of existing houses 200 Cost of new builds 6 • Growing demand for housing due to Interest rates + immigration 5 + interna
Slide 39: Market volume still well below trend range
Market volume still well below trend range The drivers of growth in the mortgage finance market 150 Market of the future 140 • Properties offered in the rental market are losing appeal for 130 medium-income households, who are instead opting for home ownership 120 • Property prices are rising faster
Slide 40: Structural gains in market share
Structural gains in market share Volume of private mortgage finance in Germany Overall market (according to Bundesbank) • Structural gains in market share Overall market (according to the Schufa credit bureau) 230 among cooperative banks and Europace transaction volume savings banks 170 +68% • Indep