Financial service provider suspends annual targets – share collapses

Dusseldorf, Frankfurt Investors in the financial brokerage Hypoport sold the company’s shares in droves on Friday after the annual targets were withdrawn. The stock, which has been under pressure for months, fell by a good 39 percent at its peak.

The company, which is listed in the SDax and is one of the largest players in private residential real estate financing, surprisingly warned late Thursday evening that it would clearly miss its annual targets. It is not foreseeable whether the reluctance of consumers in private real estate financing will end in the further course of the year, it said.

This came as a bitter surprise for Hypoport shareholders. At the beginning of August, Hypoport stuck to its annual targets despite the significant rise in interest rates on real estate loans and forecast sales of EUR 500 to 540 million and an operating profit (EBIT) of EUR 51 to 58 million for 2022.