Hypoport Se · XETR:HYQ
Hypoport — FY2024 Earnings Presentation
38 slides from Hypoport's earnings presentation, Mar 10, 2025
Slide 1: Hypoport SE Preliminary results for 2024
Hypoport SE Preliminary results for 2024
Slide 2: Solid growth in disparate markets
Solid growth in disparate markets Results for 2024 (€mn, yoy change*) (€mn) Group RE&M FP IP Revenue 561 +14% 421 +17% 75 +6% 67 +2% Gross profit 241 +15% 146 +26% 62 +4% 33 -1% EBITDA 54 +51% 45 +85% 13 +57% 8 +14% EBIT 18 >+100% 29 >+100% 7 >+100% 2 +38% Good news Bad news • Mortgage finance marke
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, prelim. results 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 n Li Planning a family continues to be Taxation of residential property tio f the primary 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, Property prices (EPX hedonic, indexed) 4 Dr. Klein best interest rate) 130 3 New build 120 2 Existing housing 110 1 Apartments 0 100 260 130 240 Properties o
Slide 7: Structural gains in market share
Structural gains in market share Volume of private mortgage finance in Germany 230 Overall market (according to Bundesbank) Europace transcation volume 150 135 100 60 Logarithmic scaling. Q1 2019 = 100. Bundesbank: Figures include building finance loans that have been drawn down; Europace transactio
Slide 8: Gains in market share in an improving market environment
Gains in market share in an improving market environment Real Estate & Mortgage: volume* of mortgage finance Europace total Finmas (savings banks) (€ billion) (€ billion) +27% +46% 85 73 77 66 54 52 10 9.8 8 9 6 6.7 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 Dr. Klein private client
Slide 9: 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 3 1 1 1 1 6 1 1 15 3 3 6 1 1 1 3 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 13 12 12 13 11 11 11 11 11 1
Slide 10: High gains in market share across all distribution channels
High gains in market share across all distribution channels Real Estate & Mortgage: mortgage finance market share, by distribution channel 2016 (€ 235 bn) 2024 (€ 198 bn) Brokers ~20% Cooperative Cooperative Brokers banks banks ~25–30% ~25% ~25–30% ~50% ~60% ~2% ~25% ~33% ~20% Private ~2% ~40% comme
Slide 11: Strategic realignment is increasingly proving effective
Strategic realignment is increasingly proving effective Real Estate & Mortgage: property valuation (Value AG) Revenue from property valuation • Significant change in demand since 2022, triggered by a fall (€ million) -4% in mortgage finance volume and the raising of the small loans threshold by lawm
Slide 12: Significantly improved gross profit and a disciplined approach to costs
Significantly improved gross profit and a disciplined approach to costs Real Estate & Mortgage Platforms: key figures* +17% • Continued growth in segment revenue on the back of Revenue (€ million) stronger mortgage finance business and healthy sales is 420.7 358.8 being dampened by a decline in prop
Slide 13: Financing Platforms
Financing Platforms Business model & results Housing sector Real Estate & Financing Corporate finance Mortgage Platforms Platforms Personal loans Insurance Platforms Hypoport SE, prelim. results 2024 13
Slide 14: 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 +43% (€ billion) (thousands) -4% 416 2.2 2.8 2.1 291 1.8 65 1.2 1.2 47 187 103 2019 2020 2021 2022 2023 2024 2019 2020 2021 2
Slide 15: Subdued market environment in need of policy change
Subdued market environment in need of policy change Financing (corporate finance): key figures for REM Capital • Climate change mitigation and energy costs are driving a structural Billed project volume at REM Capital (€ billion) increase in appetite for funding on the part of German SMEs • Support
Slide 16: Growth in a stagnant market environment
Growth in a stagnant market environment Financing (personal loans): key figures for personal loans via Europace • Macroeconomic conditions meant that the overall market Volume of personal loan transactions* (€ billion) stagnated at a low level in 2024 following a market contraction +12% in 2023 • Fu
Slide 17: Good results despite lacklustre market conditions
Good results despite lacklustre market conditions Financing Platforms: key figures +6% • Sluggish market conditions for all three product groups Revenue (€ million) (housing industry, corporate finance and personal loans) 71.1 75.4 • Gross profit from corporate finance significantly down on the robu
Slide 18: Insurance Platforms
Insurance Platforms Business model & results Personal insurance Real Estate & Financing Mortgage Platforms Occupational Platforms insurance Industrial insurance Insurance Platforms Hypoport SE, prelim. results 2024 18
Slide 19: 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 20: Progress with migration to platforms
Progress with migration to platforms Insurance: assets under management on the platforms SMART INSUR – personal insurance (€ billion) ePension – occupational insurance (€ billion) +14% +34% 4.7 3.8 4.1 2.7 3.4 2.5 0.05 0.06 0.10 0.15 0.21 0.29 1.45 1.83 2019 2020 2021 2022 2023 2024 2019 2020 2021 2
Slide 21: Slightly positive trend continues
Slightly positive trend continues Insurance Platforms: key figures +2% • Growth rate of the overall insurance market has been Revenue (€ million) mostly lower than inflation for years 65.4 67.0 • High level of M&A transactions over the past few years is fuelling consolidation among distributors, put
Slide 22: Contents
Contents 1. Segments 2. Group 3. Outlook Annex
Slide 23: Strong improvement in revenue and earnings in 2024
Strong improvement in revenue and earnings in 2024 Overview of Hypoport’s performance (€mn, yoy*) Revenue +14% Gross profit (€ million) (€ million) +15% 494 561 209 241 2023 2024 2023 2024 EBITDA (€ million) EBIT (Mio. €) +50% > +100% 54.4 17.9 36.1 2.3 2023 2024 2023 2024 * taking into account the
Slide 24: Gross profit already back at record levels
Gross profit already back at record levels 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) 249 241 209 50 3 24 1999 2006 2013 2021 2023 2024 EBIT (€ million) 48 18 2 5 4 2 199
Slide 25: Contents
Contents 1. Segments 2. Group 3. Outlook Annex
Slide 26: Market volume still well below trend range
Market volume still well below trend range Volume of private mortgage finance in Germany 150 202X: market of the future 140 ~ €75–100 billion per quarter • Persistently high net inward migration is 130 supporting demand for housing • Current low level of new builds is not 120 politically sustainable
Slide 27: Scaling trend if recovery in the market continues
Scaling trend if recovery in the market continues Segment outlook for 2025 Real Estate & Mortgage Financing Insurance Platforms Platforms Platforms Market environment Gross profit EBIT Hypoport SE, prelim. results 2024 27
Slide 28: Forecast for 2025
For years Forecast for 2025 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 €640 million and in gross market share and thus, in and thus, in nor
Slide 29: 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, prelim. results 2024 2
Slide 30: 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 31: Annex
Annex Hypoport SE, prelim. results 2024 31
Slide 32: Adjustment of revenue recognition, no effect on gross profit
Adjustment of revenue recognition, no effect on gross profit Preliminary results for 2024 (yoy change) Group Segment RE&M Segment FP Segment IP 2024 2023 2024 2023 2024 2023 2024 2023 Revenue 561* (+14%) 493*/** 421* (+17%) 359*/** 75 (+6%) 71 67 (+2%) 65 Gross profit 241 (+15%) 209** 146 (+26%) 116
Slide 33: Market capitalisation of around €1.5 billion
Market capitalisation of around €1.5 billion Shareholder structure and share information Breakdown of shareholders as at 7 March 2025 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% h
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 Jul Jul Jul Jul Jul Jul Jul Jul Oct Oct 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 €185.00 5 Dec. 2024 Chicago, Frankfurt (4x), Hamburg (2x), London (2x), Lyon, 2024 Berenber
Slide 36: Investment highlights
Investment highlights ~15% GROWTH IN GROSS PROFIT 10-year CAGR 20+ YEARS of experience with platform- based business models ~10% EBIT INCREASE 10-year CAGR 73% OF OUR EMPLOYEES are satisfied or very satisfied with Hypoport 15+ ACQUISITIONS as an employer in 10 years Hypoport SE, prelim. results 2024
Slide 37: Digitalisation of private residential property purchases
Digitalisation of private residential property purchases Real Estate & Mortgage Platforms business model Consumers Broker CRM Distribution of Poolers B2B-lending Product suppliers Property financial products marketplace valuation Online comparison Private sites commercial Other banks advisors EUROPA
Slide 38: Market volume still well below trend range
Market volume still well below trend range Volume of private mortgage finance in Germany 80 70 Freedom of movement for EU employees Market growth driven by rising property prices; number of transactions virtually unchanged 60 Vacancy rates in Lack of growth stimulus in the market major cities coming