MUNICH, Germany, May 9, 2006 (PRIMEZONE) -- Interhyp AG, Germany's largest independent residential mortgage broker, clearly strengthens its market leadership with its results for the first quarter of 2006. Brokered residential mortgage volume rose by 118 per cent to EUR 1.105 billion (1st quarter 2005: EUR 507 million). Net revenues, that is commission income achieved after deduction of payments to partners in the intermediary channel, grew by 121 per cent to EUR 14.2 million (previous year: EUR 6.4 million). Earnings before interest and tax (EBIT) improved by a factor of 3.6 to EUR 5.0 million compared with the first quarter of 2005 (EUR 1.4 million). This corresponds to an EBIT margin of 35.6 per cent, which lies above the 35 percent target for the whole of 2006. Net income in the first quarter of 2006 is at EUR 3.0 million.
"The dynamic growth of our business since the first quarter of 2005 underlines the consumer demand for a comprehensive product range, attractive rates and independent advice. The mortgage broker has become a permanent fixture in the German mortgage market," say Robert Haselsteiner and Marcus Wolsdorf, founders and Co-CEOs of Interhyp AG.
Interhyp AG confirms its guidance for 2006 which considers a mortgage volume of approximately EUR 4.8 billion, net revenues of about EUR 60 million and earnings before interest and tax (EBIT) of about EUR 21 million to be realistic.
About Interhyp AG:
With EUR 3 billion in new residential mortgage volume in 2005, Interhyp is Germany's leading independent residential mortgage broker. Interhyp combines the power of the Internet with high quality mortgage advice and the cost benefits of a direct distribution model to provide borrowers with rates which are on average 0.5% below those of traditional branch-based retail banks.
Interhyp AG shares are listed at Frankfurt Stock Exchange (SDAX) with the code IYP and the ISIN: DE 00005121701.