Report on Q3 2007: Interhyp continues to grow against the trend -
mortgage volume increased by 24 per cent
Mortgage volume of EUR 4.2 billion closed in the first nine months
(Munich, 8 November 2007). Although conditions in the market for
residential mortgages deteriorated noticeably once again, Interhyp
AG, Germany's largest independent distributor of residential
mortgages, remained on its growth path. The volume of closed
mortgages in the third quarter of 2007 rose 24 per cent to EUR 1.312
billion (Q3 2006: EUR 1.060 billion). In a nine-month comparison,
volume surged as much as 33 per cent to EUR 4.176 billion (9M 2006:
EUR 3.131 billion). Between July and September 2007, net revenues
grew by 17 per cent to EUR 18.1 million against EUR 15.5 million in
the comparable prior-year quarter. In the first nine months of the
year, net revenues climbed by 28 per cent from EUR 42.7 million (9M
2006) to EUR 54.5 million. Earnings before interest and taxes (EBIT),
at EUR 5.4 million, were a modest seven per cent below the comparable
prior-year quarter (EUR 5.8 million). However, in a nine-month
comparison, a record high of EUR 19.4 million (9M 2006: EUR 15.2
million) was reported. In the third quarter of 2007, net profits came
to EUR 3.4 million, thus totaling EUR 12.1 million in the first nine
months of 2007.
"Demand for residential mortgages weakened noticeably once more in
the third quarter - a trend which even we could not elude. At the
same time, our figures for the third quarter demonstrate the
structural strength of our business model once more: demand for our
service continues to grow strongly", says Robert Haselsteiner,
founder and Co-CEO of Interhyp AG, and adds: "In the first nine
months of the year alone, we helped more than 28,000 people to
finance their property at better rates."
Based on the usual acceleration of demand in the fourth quarter,
Interhyp adheres to its guidance for closed mortgages (around EUR 5.7
billion), net revenues (about EUR 75 million), and EBIT
(approximately EUR 27 million).
About Interhyp
With EUR 4.4 billion in new residential mortgage volume in 2006,
Interhyp is Germany's leading independent residential mortgage
distributor. Interhyp combines the power of the Internet with high
quality mortgage advice. More than 200 mortgage consultants can
choose among the products of more than 50 mortgage lenders to provide
borrowers with rates that are on average 0.5% below those of
traditional branch-based retail banks. In addition to its direct
channel, Interhyp offers face to face advice in its offices in
Berlin, Bielefeld, Bremen, Cologne, Dortmund, Dusseldorf, Essen,
Frankfurt, Hamburg, Hanover, Karlsruhe, Leipzig, Mannheim, Munich,
Nuremburg, Stuttgart and Wiesbaden. Interhyp AG shares are listed at
Frankfurt Stock Exchange (SDAX) with the code IYP and the ISIN: DE
00005121701.
Press contact
Christian Kraus, SVP Corporate Communications, Telephone +49 89 20 30
7 13 01
E-Mail: christian.kraus@interhyp.de
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Interhyp AG
Marcel-Breuer-Str. 18 Munich Germany
WKN: 512170; ISIN:
DE0005121701; Index: CDAX, CLASSIC All Share, Prime All Share, GEX,
SDAX;
Listed: Prime Standard in Frankfurter Wertpapierbörse, Amtlicher
Markt in Frankfurter Wertpapierbörse;
