Slide 1: Hypoport SE Results for Q1–Q3 2024
Hypoport SE Results for Q1–Q3 2024
Slide 2: Solid business performance in disparate markets
Solid business performance in disparate markets Results for Q1–Q3 2024 (yoy change) Group – KPIs Segments – revenue Segments – gross profit • Revenue: €332 mn (+24%) • Real Estate & Mortgage: €231 mn (+36%) • Real Estate & Mortgage: €102 mn • Gross profit: €170 mn (+11%) (+18%) • Financing: €54 mn (
Slide 3: Contents
Contents 1. Segments 2. Group 3. Outlook Annex
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, results for Q1–Q3 2024 4
Slide 5: Home ownership is increasingly becoming the only viable option
Home ownership is increasingly becoming the only viable option Key factors driving home ownership and their macro-drivers Regulation of buildings’ energy efficiency Desire for home ownership remains high Taxation of residential property n Li Planning a family continues to be the primary tio f trigge
Slide 6: Property purchases much more attractive than in 2022/2023
Property purchases much more attractive than in 2022/2023 Macroeconomic factors affecting mortgage finance 5 140 Interest (10-year fixed rate, Dr. Klein best interest Property prices (EPX hedonic, indexed) 4 rate) 130 New build 3 120 2 Existing housing stock 110 1 Apartments 0 100 260 130 240 Proper
Slide 7: Market volume still well below trend range
Market volume still well below trend range Volume of private mortgage finance in Germany 85 75 Market growth driven by rising Freedom of movement property prices; number of for EU employees transactions virtually unchanged 65 Q1–Q3 2024: Reduction in vacancies €146 bn (+20%) in major cities Lack of
Slide 8: Digitalisation of private residential property purchases
Digitalisation of private residential property purchases Real Estate & Mortgage Platforms business model SaaS Distribution of B2B Property Consumers Poolers Product suppliers brokers financial products lending marketplace valuation Online comparison Private sites commercial Other banks advisors EURO
Slide 9: Resurgent market conditions and gains in market share
Resurgent market conditions and gains in market share Real Estate & Mortgage: volume* of mortgage finance Europace total Finmas (savings banks) (€ bn) (€ bn) +23% +50% 85 73 77 7.3 54 52 48 10 4.9 39 8 9 6 7 2019 2020 2021 2022 2023 Q1-Q3 23 Q1-Q3 24 2019 2020 2021 2022 2023 Q1-Q3 23 Q1-Q3 24 Dr. Kl
Slide 10: Uptrend primarily driven by purchases of existing housing stock
Uptrend primarily driven by purchases of existing housing stock Real Estate & Mortgage: mortgage finance, by purpose 30 1 25 5 1 1 1 1 20 1 3 1 3 1 3 4 3 3 8 1 3 1 6 1 1 15 3 3 6 1 1 1 5 6 5 5 2 1 3 2 5 1 3 2 1 1 1 1 2 2 4 1 1 1 1 2 4 3 2 10 3 1 2 2 3 2 3 2 3 14 13 12 12 13 11 11 11 11 11 11 5 10 9
Slide 11: Europace still has huge potential for growth
Europace still has huge potential for growth Real Estate & Mortgage: mortgage finance market share, by distribution channel Cooperative Brokers banks ~25–30% ~25–30% ~60% ~25% ~40% ~20% Private commercial Savings banks banks ~25–30% ~15% Mortgage finance Germany Q1–Q3 2024: €146 bn // Mortgage finan
Slide 12: Steady progress with strategic repositioning since H2 2023
Steady progress with strategic repositioning since H2 2023 Real Estate & Mortgage: property valuation (Value AG) Revenue from property valuation • Massive product shifts occurred in 2023, triggered by a fall (€ million) in mortgage finance volume and the raising of the small -9% loans threshold by l
Slide 13: Significantly improved gross profit and good cost discipline
Significantly improved gross profit and good cost discipline Real Estate & Mortgage Platforms: key figures +36% • Continued growth in segment revenue on the back of stronger Revenue (€ million) mortgage finance business and healthy sales is being dampened 230.5 by a decline in property valuation rev
Slide 14: Financing Platforms
Financing Platforms Business model & results Housing sector Real Estate & Financing Corporate finance Mortgage Platforms Platforms Personal loans Insurance Platforms Hypoport SE, results for Q1–Q3 2024 14
Slide 15: Solid performance despite lacklustre market conditions
Solid performance despite lacklustre market conditions Financing (housing sector): key figures for Dr. Klein Wowi Volume of loans brokered Number of units managed through ERP +41% (€ billion) (thousands) +7% 3 302 374 2 3 266 2 0.8 0.8 47 65 187 1 103 2019 2020 2021 2022 2023 Q1-Q3 23 Q1-Q3 24 2019
Slide 16: Market conditions remain gloomy
Market conditions remain gloomy Financing (corporate finance): key figures for REM Capital • Climate change mitigation and energy costs are driving Billed project volume at REM Capital (€ billion) enquiries from German SMEs and their need for advice • Support programmes offered by individual federal
Slide 17: Growth in a stagnant market environment
Growth in a stagnant market environment Financing (personal loans): key figures for personal loans via Europace • The overall market, which contracted in 2023, is picking up Volume of personal loan transactions* (€ billion) only modestly in 2024 +15% • Further gains in market share for platform and
Slide 18: Lacklustre market conditions taking their toll
Lacklustre market conditions taking their toll Financing Platforms: key figures +6% • Mainly sluggish market conditions for the personal loans Revenue (€ million) and housing industry subsegments 51.3 54.4 • Increasingly gloomy market conditions for corporate finance Q1-Q3 23 Q1-Q3 24 • Corporate fi
Slide 19: Insurance Platforms
Insurance Platforms Business model & results Personal insurance Real Estate & Financing Mortgage Platforms Occupational Platforms insurance Industrial insurance Insurance Platforms Hypoport SE, results for Q1–Q3 2024 19
Slide 20: Digitalisation of the insurance industry
Digitalisation of the insurance industry Insurance Platforms segment: business model End customers// employees & Distributors Poolers B2B Underwriting agent Product suppliers companies insurance platform Insur apps Insur apps Advisors in bank branches Sia Other SMART INSUR brokers Quality- pool DR.
Slide 21: Progress with migration to platforms
Progress with migration to platforms Insurance: assets under management on the platforms SMART INSUR – personal insurance (€ bn) ePension – occupational insurance (€ bn) +14% +36% 4.1 4.7 3.8 4.1 2.7 3.4 2,5 0.05 0.06 0.10 0.15 0.21 0.20 0.27 1.35 1.80 2019 2020 2021 2022 2023 Q1-Q3 23 Q1-Q3 24 2019
Slide 22: Successful turnaround
Successful turnaround Insurance Platforms: key figures +3% • Growth rate of the overall insurance market has been lower Revenue (€ million) than inflation for years 47.2 48.4 • High level of M&A transactions over the past few years is fuelling consolidation among distributors and putting Q1-Q3 23 Q1
Slide 23: Contents
Contents 1. Segments 2. Group 3. Outlook Annex
Slide 24: Strong improvement in revenue and earnings in Q1–Q3 2024
Strong improvement in revenue and earnings in Q1–Q3 2024 Overview of Hypoport’s performance Gross profit & revenue 332 EBIT (€ million) (€ million) 267 Revenue +24% 11.5 Gross 170 profit Q1-Q3 23 153 +11% -2.9 Q1-Q3 24 Q1-Q3 23 Q1-Q3 24 EBITDA (€ million) Net profit (loss) for the period attributabl
Slide 25: Current environment offers significant opportunities
Current environment offers significant opportunities Long-term changes in revenue and EBITDA Established Upscaling and Qualitative growth Start-up despite fin. crisis expansion in periods of crisis Revenue (€ million) 446 360 332 4 26 98 1999 2006 2013 2021 2023 Q1-Q3 24 EBITDA (€ million) 77 2 7 8
Slide 26: Contents
Contents 1. Segments 2. Group 3. Outlook Annex
Slide 27: Home ownership is a long-term growth market
Home ownership is a long-term growth market Primary trends driving demand for mortgage finance 100 202X: market of the future 90 ~ €75–100 billion per quarter • Persistently high net inward migration is 80 supporting demand for housing • Current low level of new builds is not 70 politically sustaina
Slide 28: Scaling up as the market recovers
Scaling up as the market recovers Segment outlook for 2024 Real Estate & Mortgage Financing Insurance Platforms Platforms Platforms Market environment Revenue EBIT Hypoport SE, results for Q1–Q3 2024 28
Slide 29: Forecast for 2024
For years Forecast for 2024 For many more years Hypoport has been Double-digit percentage growth Hypoport will generate generating double-digit in consolidated revenue to at double-digit increases in increases in market share least €400 million and EBIT of market share and thus, in and thus, in norm
Slide 30: 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, results for Q1–Q3 2024
Slide 31: 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 32: Annex
Annex Hypoport SE, results for Q1–Q3 2024 32
Slide 33: Market capitalisation of €1.5 billion
Market capitalisation of €1.5 billion Shareholder structure and share information Breakdown of shareholders as at 31 October 2024 Key performance indicators KPI Details Value Ronald Slabke (CEO) Treasury shares Number of Total number of shares 6,872,164 Free float shares (of which more than 5% held
Slide 34: Share price performance superior to indices
Share price performance superior to indices 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 Apr Apr Apr Apr Apr Apr Apr Apr Apr Jul Oct Oct Jul Jul Jul Jul Jul Jul Jul Jul Oct Oct Oct Oct Oct Oct Oct J
Slide 35: Hypoport's investor relations activity
Hypoport’s investor relations activity Investor events, professional analysts’ assessments, awards Recommen- Target Recent IR events (conferences and roadshows) Analyst Date dation price Bankhaus Metzler Sell €220.00 29 Oct 2024 Q1–Q3 2024: Chicago, Frankfurt (3x), Hamburg (2x), London, Lyon, Milan,
Slide 36: Investment highlights
Investment highlights ~15% REVENUE GROWTH 10-year CAGR 20+ YEARS of experience with platform- based business models ~15% EBIT INCREASE 10-year CAGR 88% OUR EMPLOYEES are satisfied or even extremely satisfied with 15+ ACQUISITIONS Hypoport as an employer in 10 years Hypoport SE, results for Q1–Q3 202