HausVorteil AG (von NuWays AG): BUY 03.07.2026, 09:00 Uhr von dpa-AFX Jetzt kommentieren: 0

Original-Research: HausVorteil AG - from NuWays AG



03.07.2026 / 09:00 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS
Group.
The issuer is solely responsible for the content of this research. The
result of this research does not constitute investment advice or an
invitation to conclude certain stock exchange transactions.



---------------------------------------------------------------------------



Classification of NuWays AG to HausVorteil AG



     Company Name:                HausVorteil AG
     ISIN:                        DE000A31C222



     Reason for the research:     Initiation
     Recommendation:              BUY
     Target price:                EUR 17.8
     Target price on sight of:    12 months
     Last rating change:
     Analyst:                     Philipp Sennewald



The house edge is real // Initiate with BUY



Founded in 2021, HausVorteil AG is a licensed real estate broker, loan
intermediary and equity-release platform focused on residential property
owners in the DACH region. Operating primarily as a real estate broker and
platform operator, the company connects liquidity-constrained homeowners
with institutional investors via BodoBroker, its proprietary B2B digital
marketplace. Through BodoBroker, investors gain access to qualified,
off-market equity-release transactions like partial sale with usufruct, full
sale with leaseback, full sale with right of residence and leasehold. The
company monetises through origination fees, recurring portfolio management
fees and exit fees on own-book acquisitions, and through referral
commissions and placement fees on transactions brokered via BodoBroker to
external investors. Since its foundation, HausVorteil has built a portfolio
of more than 280 residential units with c. EUR 140m in AuM through its own
SPVs, while the BodoBroker platform enables capital-light commission income
across the full product spectrum.



HausVorteil is the only provider in the German equity-release market
offering all three core product structures, partial sale, full sale with
right of residence and leasehold models, under a single platform, whereas
virtually every competitor addresses only a subset of the market. The
company monetises at three distinct stages of the partial-sale lifecycle:
Origination fee, recurring management fee and exit fee, creating a
compounding income profile over a typical ten-year holding period (eNuW).
Beyond partial sales of own assets, HausVorteil brokers additional
equity-release structures to partner investors for commission, generating
fee income without deploying balance sheet capital.



The addressable opportunity is substantial and structurally under-penetrated.
Germany has c. 7m homeowners aged 65+, holding residential property worth
some EUR 380bn. Access to conventional mortgage refinancing for this
demographic has been systematically restricted under the EU Mortgage Credit
Directive. Yet the market processed only c. 4,000-4,300 partial-sale
transactions in 2023, representing roughly EUR 885m in volume, against an
eligible universe set to grow mechanically as the 67+ population expands by
c. 18% by 2035.



Favourable competitive environment. Several providers exited the market in
recent years, most recently following the withdrawal of a major Volksbanken
Raiffeisen financing institution in Sep. 2025. Meanwhile, the Landgericht
Hamburg issued the first-ever German court ruling on the partial-sale model
in Apr. 2026, affirming contract validity and rejecting consumer-credit
characterisation. With the competitive landscape consolidated and the legal
framework validated, HausVorteil enters the next phase from a strengthened
position supported by a network of c. 400 B2B distribution partners
(financial advisors, mortgage brokers and cooperative bank affiliates) that
provides broad market access at contingent cost, supports operating
leverage, and makes HausVorteil a structurally stickier referral destination
than any single-product competitor.



On this basis, we expect sales to grow from EUR 3.1m in FY26e to EUR 6.4m by
FY30e (19.9% CAGR), driven by rising origination volumes, compounding
management fees and accelerating brokerage commissions. The platform's
scalability is set to drive significant margin expansion, with EBIT
expanding from EUR 0.4m (12.4% margin) in FY26e to EUR 2.1m (32.6% margin) by
FY30e. Thanks to the capital-light setup, the return profile of HausVorteil
look set to be very compelling as the platform matures with ROCE's
normalising at mid-30% levels through FY30e, indicating strong value
creation.



We initiate coverage with BUY and a PT of EUR 17.8 based on DCF.




You can download the research here:
https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&u=6808ae40315d2802f606bd58015ac054
For additional information visit our website:
https://www.nuways-ag.com/research



Contact for questions:
NuWays AG - Equity Research
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148 Hamburg, Germany
++++++++++
Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss
bestimmter Börsengeschäfte.
Offenlegung möglicher Interessenkonflikte nach § 85 WpHG beim oben
analysierten Unternehmen befindet sich in der vollständigen Analyse.
++++++++++



---------------------------------------------------------------------------



The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
View original content:
https://eqs-news.com/?origin_id=1df44ac3-76a6-11f1-8534-027f3c38b923&lang=en



---------------------------------------------------------------------------



2359360 03.07.2026 CET/CEST