Quarterly measures 2023 Q3

6 October 2023

Quarterly measures

DUNA HOUSE GROUP hereby publishes financial indexes that are available for the given quarter aforehand, thus our respected shareholders and investors are given the chance to receive information on the tendencies within a short time following the expiry of the given quarter - prior to the quarterly financial statements publicly disclosed according to the Company's Event Calendar.

In accordance with Management intentions, these indexes shall be published on a regular basis, no later than on the 5. working day following the given quarter.

The Management of the Company asks its shareholders and investors to note that all indexes published in the present report are to be considered preliminary. Final figures shall be published in the quarterly financial statement.

Budapest, 6 October 2023

Table of Contents

Executive summary

p.4.

Changes in intermediated loan volumes

p.5.

Changes in network commission revenues and office numbers

p.6.

Changes in own office commission revenues and office numbers

p.7.

EXECUTIVE SUMMARY

Records in Poland

The Group's growth trend is unbroken in all segments after the low point of the first quarter. The Polish franchise segment set records and the Polish own office segment reached its highest volumes in the last nine quarters, with financial product brokerage volumes continuing to grow. The Hungarian business is showing steady improvement, while the Group is strengthening its strategic cooperation in Italy, in a loan market that is slowing due to euro interest rates.

In Hungary, the recovery from the market trough in Q1 2023 continued, with volumes declining by 3-10% in each segment on a year-on-year basis in Q3 2023. The Group's Hungarian franchise real estate volumes declined by 3% year-on-year, but the last four quarters' strongest performance was recorded in the current period. Own office volumes declined by 10% year-on-year, while the third quarter was 8% ahead of the second quarter. The group's Hungarian lending volume, while down 7% year-on-year, grew 29% quarter-on-quarter.

In Poland, the last quarter of 2022 was the low point, and the recovery has been unbroken for the third quarter in a row. Franchise real estate brokerage volumes jumped to a record high, up 43% year-on-year. Own office operation volumes grew 54% year-on-year and 16% quarter-on- quarter. Brokered loan volumes jumped 33% year-on-year, but the quarter-on-quarter growth rate was also significant at 22%. The turnaround in the loan market was helped by the easing of payment-to-income conditions for fixed-rate loans by the regulator. The market is further boosted by the launch of the First Home scheme on 1 July to help borrowers under age of 45 years buying their first home.

Italian financial product brokerage volumes fell by 18% year-on-year in euro terms in the third quarter as interest rates continued to rise. The decline compared to Q2 2023 (-7.4% in euro terms) is milder than the usual seasonality in the country (-16%). Due to the August holidays, volumes for the month are typically only 40-42% of those of previous months. The Group has signed a major cooperation agreement with the real estate network Professione Casa, which it expects to generate significant organic growth from 2024. The real estate brokerage activity generated commission income of HUF 80 million with a network of 37 offices.

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FINANCIAL PRODUCT INTERMEDIARY SERVICES SEGMENT

Changes in intermediated loan volumes

HUF billion

250,0

200,0

150,0

100,0

50,0

0,0

Intermediated loan volumes by quarters

190,0

191,7

144,7

165,6

176,8

23,1

17,9

33,4

16,6

21,5

46,0

11,4

35,4

50,0

61,1

120,9

140,5

98,9

97,9

94,3

2022 Q3

2022 Q4

2023 Q1

2023 Q2

2023 Q3

Italy

Poland

Hungary

  • Loan volumes intermediated during the quarter amounted to HUF 177 billion (-6.9% y/y), continuing the post-turnaround growth in volumes (+6.8% q/q).
  • In Italy, loan volumes amounted to EUR 246 million (HUF 94.3 billion), down 22.0% in HUF and 18.0% in EUR compared to Q3 2022. The decrease compared to Q2 2023 (-7.4% in EUR terms) is milder than the usual seasonality in the country (-16%). Due to the August holidays, the month's volumes are typically only 40-42% of those of the previous months.
  • In Poland, after a lending turnaround in the first quarter, the Group's intermediated loan volume amounted to PLN 715.9 million (PLN 61.1 billion, +32.3% y/y on a PLN basis) in the third quarter of the year, with quarter-on-quarter growth of 17.7% on a PLN basis. The turnaround was helped by the easing of payment-to-income conditions for fixed-rate loans by the regulator, and further boosted by the launch of the First Home programme on 1 July for first-time home buyers under 45.
  • In Hungary, quarterly loan volumes intermediated by the Group amounted to HUF 21.5 billion, down 6.9% year-on-year but up 29.2% quarter-on-quarter due to the market turnaround.
  • TECHNICAL NOTE: From Q2 2023 onwards, the Hungarian loan volume data also include the contracted amount of intermediated home savings contracts.

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Duna House Holding plc published this content on 06 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2023 11:31:24 UTC.