Half Year 2024 Hypoport SE Earnings Call Transcript
Key Points
- Double-digit growth in top line and gross profit, with significant outperformance on the earnings side.
- Real estate and mortgage business saw a 32% growth, driven by recovery in the German mortgage market and market share gains.
- Software as a Service offering in the financing segment is growing fast, with heavy investments showing positive client-side impact.
- Europace platform saw a 22% increase in total transactions, outperforming market levels.
- Occupational insurance business is on a clear growth path, showing strong profitability compared to competitors.
- Property valuation business is struggling due to regulatory changes and market environment, impacting client trust and revenue.
- Financing platform segment is still in a crisis environment, particularly in the social housing sector due to unattractive investment conditions.
- Personal loan business is facing a shrinking market due to high interest rates and regulatory changes, affecting transaction volumes and revenue.
- Insurance segment is still struggling with migration to new solutions, impacting overall growth and profitability.
- Government delays and budget freezes have slowed down corporate finance projects, affecting the first half performance.
Good afternoon, ladies and gentlemen. And welcome to the Hypoport results for the first-half of 2024 conference call. (Operator Instructions) I would now like to turn the conference over to Ronald Slabke. Please go ahead.
Thank you. Welcome from my side as well. So first half of 2024 is over and we reported today in the morning our numbers. You are aware that this was a pretty good start in the year 2024. Double-digit growth on top line and gross profit and outperformance on the earnings side. Thanks to -- a pretty difficult last year, which we had as you are aware. The core growth driver is the real estate and mortgage business with a growth of 32% even. And this is thanks to a recovery of the German mortgage market plus market share gains across all segments, which we could realize over the last 12 months.
Another highlight comes from the financing's segment, our Software as a Service offering an open ERP system for the housing associations is growing fast. And
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