Hypoport Se · XETR:HYQ

Hypoport — FY2020 Earnings Presentation

44 slides from Hypoport's earnings presentation, Mar 15, 2021

  1. Slide 1: Hypoport SE Preliminary results for 2020

    Hypoport SE Preliminary results for 2020

  2. Slide 2: Our mission

    Our mission Digitalisation of the credit, real-estate and insurance industries Credit industry Real-estate industry Insurance industry Hypoport SE, 2020 preliminary results 2

  3. Slide 3: Hypoport – a network of technology companies

    Hypoport – a network of technology companies The four segments of Hypoport STAR- BAUFI POOL QUALITY NEX POOL GENO Insurance industry PACE Credit industry FINMAS SMART INSURTECH EUROPACE ePension funding- REM port CAPITAL VALUE AG FIO DR. KLEIN PRIVATE CLIENTS DR. KLEIN WOWI PRoM MiSe Private clients

  4. Slide 4: Hypoport – clearly ahead of the market

    Hypoport – clearly ahead of the market Results for 2020 & forecast for 2021 Key figures for 2020 (yoy change) • Revenue: €387.7 million (+15%) • Gross profit: €210.5 million (+16%) • EBIT: €36.2 million (+10%) • EPS: €4.33 (+11%) Hypoport and the market (yoy change) • Credit Platform revenue: +20% M

  5. Slide 5: Contents

    Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shareholder structure and share information 5. Investment highlights and outlook Annex

  6. Slide 6: Significant gains in market share during Covid crisis

    Significant gains in market share during Covid crisis Impact of the coronavirus crisis on Credit Platform and Private Clients Market Lockdown 1 After lockdown 1 Lockdown 2 Long term Segments Target group environment (Mar–May 2020) (Jun–Sep 2020) (since Oct 2020) (after coronavirus) Credit Mortgage C

  7. Slide 7: Long-term trends not affected by coronavirus

    Long-term trends not affected by coronavirus Factors influencing the German housing market Factors Effects Outcome Net inward migration Excess New Life demand Property mortgage expectancy (~2 million prices homes) finance business One-person households Rentals Regulation Marketed of housing New buil

  8. Slide 8: Short-term effects minimal, long-term trends intact

    Short-term effects minimal, long-term trends intact Impact of coronavirus crisis on Real Estate Platform and Insurance Platform Market Lockdown 1 After lockdown 1 Lockdown 2 Long term Segments Target group environment (Mar–May 2020) (Jun–Sep 2020) (since Oct 2020) (after coronavirus) Real Estate Pro

  9. Slide 9: Contents

    Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shareholder structure and share information 5. Investment highlights and outlook Annex

  10. Slide 10: Credit Platform

    Credit Platform Business model & results STAR BAUFI POOL QUALITY NEX POOL GENO PACE Credit industry FINMAS EUROPACE FUNDING- REM PORT CAPITAL Hypoport SE, 2020 preliminary results 10

  11. Slide 11: Credit Platform business model

    Credit Platform Business model Consumers / Advisors Poolers B2B online credit Product suppliers companies marketplace Online comparison Private sites commercial banks Other advisors EUROPACE Insurance Dr. companies Klein Quality- pool Star- pool Savings Baufi- banks nex FINMAS Other poolers Cooperat

  12. Slide 12: Substantial gain in market share for Europace in 2020

    Substantial gain in market share for Europace in 2020 Credit Platform: Europace transaction volume • Transaction volume per sales day* reached a record level of Volume of transactions (€ billion)** over €350 million (+29% yoy) in 2020 CAGR: +18% +32% • Strong fourth quarter (+36% yoy) despite lockdo

  13. Slide 13: Europace has huge potential for growth

    Europace has huge potential for growth Mortgage finance in Germany and Europace's share Distribution channels and Europace's share* GENOPACE (for cooperative banks)* CAGR: +66% +83% Cooperative Brokers 7.8 banks 7.8 ~25–30% ~25-30% 4.3 4.3 ~55% 1.0 1.2 1.6 ~10% 2016 2017 2018 2019 2020 2019 2020 ~35

  14. Slide 14: Significant growth thanks to innovation leadership

    Significant growth thanks to innovation leadership Credit Platform: revenue, gross profit and earnings +20% • All four distribution channels (financial product distributors, Revenue (€ million) private commercial banks, cooperative institutions, savings banks) 169.5 141.5 are growing at a much faste

  15. Slide 15: Private Clients

    Private Clients Business model & results DR. KLEIN PRIVATE CLIENTS VER- GLEICH .DE Private clients Hypoport SE, 2020 preliminary results 15

  16. Slide 16: Private Clients business model

    Private Clients Business model Consumers Lead generation via… Advisors Access via… Product suppliers Private commercial Google banks Insurance Dr. Klein companies Vergleich.de EUROPACE franchise system FINMAS Savings banks DrKlein.de website GENOPACE Cooperative banks Hypoport SE, 2020 preliminary r

  17. Slide 17: Strong year for Dr. Klein Privatkunden

    Strong year for Dr. Klein Privatkunden Private Clients: volume of loans brokered and number of advisors Volume of new loans brokered (€ billion)* • Significant market share gain in 2020 (overall market: +4%) CAGR: +19% +24% • Fully digital provision of advice and digital processing via Europace crea

  18. Slide 18: Sharp rise in EBIT for the Private Clients segment

    Sharp rise in EBIT for the Private Clients segment Private Clients: revenue, gross profit and earnings +17% • Revenue growth was again in double digits (17%) in Revenue (€ million) 2020 thanks to an increased volume of new loans 122.2 104.6 brokered • Capital expenditure carried out in 2019 to integ

  19. Slide 19: Real Estate Platform

    Real Estate Platform Business model & results EUROPACE VALUE AG FIO DR. KLEIN WOWI PROM MISE Real-estate industry Hypoport SE, 2020 preliminary results 19

  20. Slide 20: Creation of a 'platform for housing'

    Creation of a 'platform for housing' Business model Home ownership Rental (via credit industry) (via housing industry) Property sales Property financing platform platform Property valuation Property platform management platform Hypoport SE, 2020 preliminary results 20

  21. Slide 21: The €800 billion housing market is going digital

    The €800 billion housing market is going digital Market participants, structure and market share Property purchases Mortgage finance Property valuation Notaries & Sellers Brokers Buyers Advisors Marketplace Banks Appraisers land register Market participants Market structure • Highly fragmented • Com

  22. Slide 22: Strong cross-selling potential

    Strong cross-selling potential Market share for the marketing, financing and valuation of residential property Property sales Property financing Property valuation approx. €216 billion €273 billion approx. €325 billion 14.7 24.8 (7%) (8%) 72.7 (27%) Overall German market: approx. €216 billion Overal

  23. Slide 23: Better scalability and less project business

    Better scalability and less project business Real Estate Platform: property sales platform and property management platform Market share of FIO Vermarktung • Development of software solutions for the sale and Savings banks Cooperative banks management of residential properties in the housing and 17%

  24. Slide 24: Successful year of growth for VALUE AG

    Successful year of growth for VALUE AG Real Estate Platform: property valuation platform Potential synergies of Europace partners for VALUE • The business model consists of integrated property valuations AG 770 for the lending banks, i.e. for Europace product partners 706 Europace • Restricted valua

  25. Slide 25: Slightly better conditions due to volatile interest rates

    Slightly better conditions due to volatile interest rates Real Estate Platform: property financing platform Volume of new loans brokered on the property • The business model is based on loan brokerage for the financing platform +6% municipal and cooperative housing industries (€ billion) 1.77 • Desp

  26. Slide 26: Growth segment with high capital expenditure

    Growth segment with high capital expenditure Real Estate Platform: revenue, gross profit and earnings +5% • Healthy operating performance of all four platforms (property Revenue (€ million) sales, valuation, financing and management); a few slight delays 50.1 52.8 to new projects as a result of the

  27. Slide 27: Insurance Platform

    Insurance Platform Business model & results QUALITY POOL Insurance industry SMART INSURTECH ePENSION Hypoport SE, 2020 preliminary results 27

  28. Slide 28: Insurance Platform business model

    Insurance Platform Business model End customer Advisors Poolers B2B Product suppliers platform Insur Insur apps apps Other advisors Other brokers Dr. Klein DR. KLEIN Quality-/ SMART INSUR Insurance Amex- SMART INSUR companies pool Other ePension poolers Advisors in bank branches E&P Hypoport SE, 202

  29. Slide 29: Focus on recurring revenue

    Focus on recurring revenue Insurance Platform: revenue, gross profit and earnings +6% • Large broker organisations and broker pools are the Revenue (€ million) primary target groups; insurtechs and banks are also 42.6 45.0 important client groups • Additional clients were signed up for the platform

  30. Slide 30: Contents

    Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shareholder structure and share information 5. Investment highlights and outlook Annex

  31. Slide 31: Impressive growth despite coronavirus

    Impressive growth despite coronavirus Overview of Hypoport's key performance indicators Growth (€ million) Earnings (€ million) 387.7 63.8 337.2 52.2 Revenue EBITDA +15% +22% EBIT 36.2 33.0 +10% Gross profit 210.5 EAT 181.9 +14% 27.9 +16% 24.4 2019 2020 2019 2020 Hypoport SE, 2020 preliminary result

  32. Slide 32: 20 years as a growth company

    20 years as a growth company Long-term changes in revenue and EBITDA Established Start-up Upscaling and expansion despite fin. crisis Revenue (€ million) 388 337 4 26 98 1999 2006 2013 2019 2020 EBITDA (€ million) 64 52 2 7 8 1999 2006 2013 2019 2020 Hypoport SE, 2020 preliminary results 32

  33. Slide 33: Targeted investment in further growth

    Targeted investment in further growth Areas of capital expenditure with an impact on earnings in 2020 Credit Platform (level of investment: €€€) Private Clients (level of investment: €) • Increase in key account resources for regional banks • Investment in the digitalisation of the advisory (FINMAS

  34. Slide 34: Contents

    Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shareholder structure and share information 5. Investment highlights and outlook Annex

  35. Slide 35: Market capitalisation of more than €3 billion

    Market capitalisation of more than €3 billion Shareholder structure and share information Breakdown of shareholders as at 12 March 2021 Key performance indicators KPI Details Value Ronald Slabke (CEO) Treasury shares EPS Earnings per share in 2020 €4.33 Free float (of which more than 4% by Ameripris

  36. Slide 36: Contents

    Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shareholder structure and share information 5. Investment highlights and outlook Annex

  37. Slide 37: Investment highlights

    Investment highlights ~25% 3.0 REVENUE GROWTH MODERATE DEBT LEVEL CAGR 5 years Financial liabilities / 12M EBITDA ~15% 20+ EBIT INCREASE YEARS CAGR 5 years of experience with platform- based business models 10+ 86% ACQUISITIONS OUR EMPLOYEES in 5 years are satisfied or even extremely satisfied with

  38. Slide 38: Forecast for 2021

    Since years Forecast for 2021 Upcoming years Double-digit growth in For 2021, Hypoport Double-digit growth in sales and EBIT anticipates revenue of sales and EBIT between €430 million and €460 million and EBIT of €40 million to €45 million. Hypoport SE, 2020 preliminary results 38

  39. Slide 39: Contact

    Contact Jan H. Pahl Hypoport SE Investor Relations Manager Heidestrasse 8 Tel: +49 (0)30 420 861 942 10557 Berlin Email: ir(at)hypoport.de Germany IR distribution list (English): Sign up here IR distribution list (German): Sign up here Hypoport SE, 2020 preliminary results 39

  40. Slide 40: 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

  41. Slide 41: Annex

    Annex Hypoport SE, 2020 preliminary results 41

  42. Slide 42: Share price rises sharply

    Share price rises sharply Share price since the date of joining the SDAX (daily closing price, Xetra, €) HYQ SDAX 650 78.000 620 75.000 590 72.000 69.000 560 66.000 530 63.000 500 60.000 470 57.000 440 54.000 51.000 410 48.000 380 45.000 350 42.000 320 39.000 290 36.000 33.000 260 30.000 230 27.000

  43. Slide 43: Hypoport's investor relations activity

    Hypoport's investor relations activity Investor events, professional analysts' assessments, awards Recommen- Target Recent IR events Analyst Date dation price Conferences (digital) Amsterdam, Frankfurt, Lyon Q1 2021 Bankhaus Metzler Sell €425.00 01 March 2021 Conferences (digital) Berlin, London, Fr

  44. Slide 44: Mortgage finance – a high-potential market

    Mortgage finance – a high-potential market Factors influencing the private and institutional residential mortgage finance markets Negative factors Positive factors • Lack of available properties • Strong pent-up demand in and from the Finance for rental market OWNER- • High ancillary purchasing cost

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