Hypoport (HYQ) Q4 2024 earnings summary

Executive summary

• Achieved 14% year-over-year revenue growth in 2024, reaching €561 million, driven by a significant recovery in mortgage finance, real estate, and market share gains across core platforms.

• EBIT surged to €17.9 million from €2.3 million in 2023, reflecting improved earnings across all segments despite mixed market conditions.

• All segments contributed to growth, with Real Estate & Mortgage Platforms leading in revenue and profit improvement.

• Outperformed the overall market, especially through the EUROPACE platform, and maintained strong momentum in insurance and financing.

• Market share gains continued across distribution channels, especially in mortgage finance.

Financial highlights

• Revenue reached €560.7 million in 2024, up 14% year-over-year; gross profit rose 15% to €241.5 million, matching pre-crisis highs.

• EBIT increased by over 100% to €17.9 million; EBITDA rose 51% to €54 million.

• Real estate and mortgage transaction volume increased by 21% year-over-year to €189 billion, with EUROPACE growing 27% and Dr. Klein franchise network up 30%.

• Group expects to double EBIT to €30–36 million in 2025, with a record €270 million in gross profit projected.

• Net earnings were €13.1 million, down 38% year-over-year, and EPS was €1.85, down 40% due to lower one-off effects.

Outlook and guidance

• Forecasts double-digit growth in 2025, with minimum revenue of €640 million, gross profit of at least €270 million, and EBIT between €30 million and €36 million.

• Expects continued outperformance of the market by EUROPACE, targeting 20% transaction volume growth and maintaining a 10% outperformance goal year-over-year.

• Anticipates a return to double-digit group growth and record profitability by 2026.

• Modest revenue growth and positive EBIT also planned for Insurance Platforms in 2025.

• Forecasts 10% growth in the German mortgage market for 2025, reaching €220 billion, with potential for higher growth depending on geopolitical and government developments.