MUNICH, Germany, Aug. 8, 2006 (PRIMEZONE) -- With the results for the first half of 2006, Interhyp AG, Germany's largest independent residential mortgage broker, once again clearly demonstrates the strength of its business model: mortgage volume rose by 87 percent to EUR 2.071 billion in the first six months of 2006 (1st half of 2005: EUR 1.110 billion). In the same period, net revenues grew 87 percent to EUR 27.2 million (1st half of 2005: EUR 14.5 million). Earnings before interest and taxes (EBIT) climbed in the first half of 2006 by 130 percent to EUR 9.4 million (1st half of 2005: EUR 4.1 million).
Quarterly results also reflect Interhyp's continued dynamic growth: mortgage volume rose by 60 percent in the second quarter to EUR 966 million (Q2 2005: EUR 603 million). Net revenues surged 61 percent to EUR 13.0 million (Q2 2005: EUR 8.1 million). Earnings before interest and taxes increased by 61 percent to EUR 4.3 million (Q2 2005: EUR 2.7 million). Interhyp's growth is in clear contrast to a significant decline in transactions in the German residential housing market in the first six months of 2006.
"This growth enables us to extend our position as the leading independent residential mortgage broker in Germany. More and more customers benefit from our ability to deliver a wide range of products, independent advice and attractive interest rates compared to those of the traditional high street bank," says Robert Haselsteiner, founder and Co-CEO of Interhyp AG. "This success clearly confirms our strategy of consistent brand-building and the opening of regional offices in six metropolitan areas," he adds.
Building on this success, Interhyp will open regional offices in nine additional cities by the end of 2007, enabling even more customers to benefit from one-on-one consultations locally.
Interhyp AG confirms its guidance for 2006, which considers a mortgage volume of approximately EUR 4.8 billion, net revenues of around EUR 60 million and earnings before interest and taxes (EBIT) of some EUR 21 million, to be realistic.
About Interhyp AG: With 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 by over 200 mortgage specialists. The company's rates average 0.5% lower than those of traditional branch-based retail banks. Regional offices for one-on-one consultations are maintained in Berlin, Frankfurt, Hamburg, Cologne, Munich and Stuttgart. Interhyp shares are listed at Frankfurt Stock Exchange (SDAX) with the code IYP and the ISIN: DE 00005121701.