Hypoport Se · XETR:HYQ
Hypoport — FY2018 Earnings Presentation
38 slides from Hypoport's earnings presentation, Mar 11, 2019
Slide 1: Hypoport AG Preliminary results for 2018
Hypoport AG Preliminary results for 2018
Slide 2: Mission
Mission Digitalisation of the credit, real estate and insurance industries Credit industry Real Estate industry Insurance industry
Slide 3: Hypoport – a network of technology companies
Hypoport – a network of technology companies The four segments of Hypoport QUALITY- POOL BAUFI- NEX Insurance industry Credit industry STAR- POOL GENO- PACE SMART INSURTECH EUROPACE FINMAS VALUE FIO DR. KLEIN AG PRIVATKUNDEN DR. KLEIN FIRMEN- KUNDEN Consumer Real Estate industry Hypoport AG, 2018 fi
Slide 4: Technology for the credit, real estate and insurance industries
Technology for the credit, real estate and insurance industries Investment highlights in 2018 and forecast for 2019 Key figures for 2018 (yoy change) • Revenue: €266.0 million (+36%) • EBIT: €29.3 million (+26%) • EPS: €3.66 (+18%) • Market cap (31 December 2018): approx. €962 million (+7%) • Averag
Slide 5: Contents
Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shares and investor relations 5. Investment highlights and outlook
Slide 6: Huge excess demand in the housing market
Huge excess demand in the housing market Factors influencing the German housing market Net migration Volume of new business Life Excess demand for Property (1.1–1.9 million mortgage finance expectancy Homes) prices One-person households Rentals Number of New builds marketed properties Hypoport AG, 2
Slide 7: Mortgage finance – market has strong potential
Mortgage finance – market has strong potential Factors influencing the private and institutional residential real-estate finance markets Negative factors Positive factors • Lack of available properties. • Strong pent-up demand in and from the • High ancillary purchasing costs. rental market. Finance
Slide 8: Contents
Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shares and investor relations 5. Investment highlights and outlook
Slide 9: Credit Platform
Credit Platform Segment results QUALITY- POOL Credit industry STAR- POOL GENO- PACE EUROPACE FINMAS Hypoport AG, 2018 financial year 9
Slide 10: Credit Platform: Business model
Credit Platform Business model End customer Brokers Poolers B2B credit Product suppliers marketplace Online comparison Private sites banks Other brokers Dr. Insurance Klein companies QUALITY- POOL End customer EUROPACE STAR- POOL Savings banks FINMAS Other poolers GENOPACE Advisors in Cooperative ba
Slide 11: EUROPACE again outperforms the market by a long way
EUROPACE again outperforms the market by a long way Credit Platform: volume of transactions and number of partners • Transaction volume per sales day*** rises to Volume of transactions (€ billion)* CAGR: +16% +20% record high of €244 million in Q4 2018 (+23% yoy). 57.9 57.9 39.8 44.7 48.2 48.2 31.9
Slide 12: Strong growth at regional banks
Strong growth at regional banks GENOPACE and FINMAS sales transaction volume and number of contractual partners • The use of EUROPACE in sales departments at Volume of transactions (€ billion)* savings banks and cooperative banks continues +74% to increase at a faster rate than is the case for the o
Slide 13: Substantial growth secures market leadership
Substantial growth secures market leadership Credit Platform: revenue, gross profit and earnings +37% • In 2018, revenue in the Credit Platform segment Revenue (€ million)* 114.7 exceeded €100 million for the first time. 83.6 • Growth driven by all sub-segments (EUROPACE, FINMAS, GENOPACE, Qualitypo
Slide 14: Private Clients
Private Clients Segment results DR. KLEIN PRIVATKUNDEN VER- GLEICH .DE Consumer Hypoport AG, 2018 financial year 14
Slide 15: Private Clients: Business model
Private Clients Business model End customer Lead generation Broker Product access Product suppliers via… via… Private banks Google Insurance Vergleich.de companies Dr. Klein EUROPACE Franchise system End customer FINMAS GENOPACE Savings banks DrKlein.de website Cooperative banks Hypoport AG, 2018 fi
Slide 16: Dr. Klein makes significant gains in market share
Dr. Klein makes significant gains in market share Private Clients: volume of loans brokered and number of advisors • Dr. Klein again expands its market share in a Volume of new loans brokered (€ billion)* mortgage finance market that is only CAGR: +23% +30% experiencing slight overall growth (+5%).
Slide 17: Dr. Klein achieves record revenue and earnings
Dr. Klein achieves record revenue and earnings Private Clients: revenue, gross profit and earnings • The increase in the volume of new loans Revenue (€ million)* +15% brokered in the mortgage finance product 86.4 group resulted in a further year-on-year rise in 74.9 revenue in 2018. • The integratio
Slide 18: Real Estate Platform
Real Estate Platform Segment results VALUE FIO AG DR. KLEIN FIRMEN- KUNDEN Real Estate industry Hypoport AG, 2018 financial year 18
Slide 19: Digitalisation of the German housing industry
Digitalisation of the German housing industry Business model Housing industry Credit industry Financing Valuation platform platform Management Marketing platform platform (ERP) + PROMMISE Hypoport AG, 2018 financial year 19
Slide 20: No support from the market
No support from the market Real Estate Platform: Financing platform • The business purpose is the brokerage of Volume of new loans brokered (€ billion) financial products for the housing industry and -13% an additional advisory service. 2.2 1.9 • The lack of stimulus from interest rates in the secon
Slide 21: Huge potential for FIO
Huge potential for FIO Real Estate platform: Management platform and Marketing platform • The business purpose is the development of Market share of Marketing platform 385 Savings banks 915 cooperatives banks software solutions for the management and 311 marketing of real estate. Its customers are t
Slide 22: Connecting new bank partners
Connecting new bank partners Real Estate platform: Valuation platform • Business purpose is the integrated valuation of Number bank partners 618 properties. Clients are banks. 501 Contractual • Strong increase of revenue in 2018 because of partners Europace without organic and inorganic growth. valu
Slide 23: The added value of recent acquisitions is already visible
The added value of recent acquisitions is already visible Real Estate Platform: revenue, gross profit and earnings • The segment's revenue growth was largely Revenue (€ million)* +64% driven by Management platform and Marketing 34.1 platform as well as Valuation platform. 20.8 • Increasing proportio
Slide 24: Insurance Platform
Insurance Platform Segment results QUALITY- POOL Insurance industry SMART INSURTECH Hypoport AG, 2018 financial year 24
Slide 25: Insurance Platform: Business model
Insurance Platform Business model End customer Broker Poolers B2B platform Product suppliers Insur apps Dr. Klein QUALITY- POOL SMART INSUR Insurance End customer companies Other poolers Other brokers Banks Hypoport AG, 2018 financial year 25
Slide 26: Insurance technologies grouped together in this segment
Insurance technologies grouped together in this segment Insurance Platform: revenue, gross profit and earnings • The technical and cultural integration of the Revenue (€ million) +99% acquired companies is progressing well and 30.4 unlocking the anticipated synergies. 15.2 • The focus is on gaining
Slide 27: Contents
Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shares and investor relations 5. Investment highlights and outlook
Slide 28: Hypoport Group generates strong growth
Hypoport Group generates strong growth Overview of Hypoport's key performance indicators Revenue (€ million) Gross profit (€ million) Employees (number) +36% +37% +49% 266.0 140.2 1,500 194.9 102.3 1,009 12M 2017 12M 2018 12M 2017 12M 2018 31 Dec 2017 31 Dec 2018 EBITDA (€ million) EBIT (€ million)
Slide 29: History of Hypoport Group
History of Hypoport Group Long-term changes in revenue and EBIT Established 7Y Start-up 7Y 4Y+ Upscaling and expansion despite fin. crisis Revenue (€ million) 266 195 98 26 4 1999 2006 2013 2017 2018 EBIT (€ million) 29 6 23 2 4 1999 2006 2013 2017 2018 Hypoport AG, 2018 financial year 29
Slide 30: Contents
Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shares and investor relations 5. Investment highlights and outlook
Slide 31: Market capitalisation of around €1 billion
Market capitalisation of around €1 billion Shareholder structure and share information Breakdown of shareholders as at 31 December 2018 KPIs and indices KPI DETAILS VALUE Ronald Slabke (CEO) Treasury shares EPS Earnings per share in 2018 €3.66 Free float Number of Total number of shares 6,493,376 (o
Slide 32: Contents
Contents 1. Market environment 2. Key performance indicators for the segments 3. Overview of key performance indicators 4. Shares and investor relations 5. Investment highlights and outlook
Slide 33: Many reasons for investing in Hypoport
Many reasons for investing in Hypoport Investment highlights Network of technology companies for the credit, real estate and insurance industries. The growth in the volume of transactions on the different platforms comfortably surpassed the growth of the related individual markets. Strong organic gr
Slide 34: Contacts
Contacts Christian Würdemann Head of Group Operations Tel: +49 (0)30 420 860 Hypoport AG Email: ir(at)hypoport.de Klosterstrasse 71 10179 Berlin Jan H. Pahl Germany Investor Relations Manager Tel: +49 (0)30 420 861 942 Email: ir(at)hypoport.de
Slide 35: 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 36: Annex
Annex
Slide 37: Share price rises sharply
Share price rises sharply Share price: from the date of joining the SDAX to March 2019 (daily closing price, Xetra, €) 210 200 190 180 170 160 150 140 130 120 110 100 90 80 70 60 50 Dec Feb Dec Feb Feb Apr Apr Dec Apr Dec Feb Aug Sep Aug Aug Sep Jun Sept Nov Nov Nov Mar May Jul Mar Mar Mar Oct May J
Slide 38: Further expansion of investor relations activities
Further expansion of investor relations activities Investor events, analyst recommendations and awards RECOMMEN- TARGET RECENT INVESTOR EVENTS ANALYST DATE DATION PRICE Bankhaus Investor conference Frankfurt Feb 2019 Hold €186.00 21 Jan 2019 Metzler Investor conference Lyon Jan 2019 Berenberg Buy €2