At the same time, the company soon sees the first successes of the savings measures that have recently been introduced. After the decline in business in recent months, CEO and major shareholder Ronald Slabke still expects a recovery and gains in market share. However, the speed of market normalization is difficult to predict, he said when presenting the detailed quarterly figures on Monday in Berlin, according to the announcement.
At the end of September, Hypoport canceled its forecast for the current year due to the slump in the real estate market and announced cost-cutting measures. The share, which is listed in the SDAX, collapsed as a result, but has since recovered strongly. The cost reductions should pay off in the first quarter of next year.
As already known, sales fell by six percent to 105 million euros in the months from July to September. Earnings before interest and taxes (EBIT) fell by 93 percent to around 800,000 euros. This value was therefore slightly better than that which had been published at the end of October when the most important key figures were announced. The bottom line was a profit of 1.5 million euros, 82 percent less than a year ago.
The Hypoport share gets under the wheels on Monday and temporarily loses 2.51 percent to 133.70 euros via XETRA.
/eg/mis
BERLIN (dpa-AFX)
Leverage must be between 2 and 20
No data
More news about Hypoport SE
Image sources: Hypoport