The company, which is listed on the SDAX, announced on Thursday after the stock exchange closed in Berlin that the current forecast for the year will be “clearly missed”. It is not possible to predict whether the reluctance of consumers to finance private real estate will come to an end as the year progresses. The second half of the year has so far shown very weak demand. For the third quarter, sales are expected to be slightly below the previous year’s level and balanced earnings before interest and taxes on a provisional basis. The share came under strong pressure on Tradegate with a discount of more than eight percent.
Despite a significant expansion in the range of real estate and slight price declines, consumers in Hypoport SE’s main market, private real estate financing, were reluctant to make transactions because of the combination of sharp rises in interest rates, extreme inflation and fears of recession, as well as hopes that real estate prices would fall more sharply.
At the beginning of August, Hypoport stuck to its annual targets despite the significant rise in interest rates on real estate loans and forecast sales of EUR 500 to 540 million and an operating profit (EBIT) of EUR 51 to 58 million for 2022.
In after-hours trading in Frankfurt, it is temporarily down by 15.05 percent to 131.00 euros.
BERLIN (dpa-AFX)
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Image sources: Hypoport, Hypoport AG