Despite a significant increase in the range of real estate on offer and a slight drop in prices, consumers held back in the SDax company’s main market, private real estate financing.
(Photo: Hypoport)
Dusseldorf The financial broker Hypoport had to accept a drop in sales and a slump in profits in the third quarter. Based on preliminary figures, the revenues in the period fell by six percent to 105 million euros and the result (EBIT) by 95 percent to 0.5 million euros, the company announced on Tuesday evening.
The Executive Board has introduced measures “to adjust the cost level to the currently weak market environment in private and institutional real estate financing and in the corporate finance division”. The results of this cost reduction would take effect from the first quarter of 2023.
Because of the good first half of the year, the figures for the first nine months of 2022 are even more positive. Compared to the same period last year, sales increased by 13 percent to EUR 367 million, while earnings fell by seven percent to EUR 31 million.
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