Hypoport announced bad prospects for the real estate business in 2023 back in March.
(Photo: dpa)
Frankfurt The slack on the real estate market is clearly having a financial impact on the financial service provider Hypoport. The company, which is listed in the SDax, started the new year with significant declines in sales and earnings.
Sales fell in the first quarter compared to the same period last year by 30 percent to 94 million euros, as the company announced on the basis of preliminary figures in Berlin. Earnings before interest and taxes even collapsed by 90 percent to one million euros.
The trend reversal on the real estate market is shaking the company, which includes the mortgage broker Dr. Klein and the financing platform Europace continue to do well. In the early summer of last year, Hypoport had already shocked the markets by suspending the forecast. This was followed by significant price losses, job cuts and a capital increase in January 2023. On Monday, after the figures were announced, the share lost around 1.5 percent in value by noon.
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