MONEY3 ACHIEVES RECORD 1H FY21 RESULT WITH FOCUS NOW FULLY ON GROWTH
Financial highlights:
• 32.8% increase in EBITDA to $40.5 million,
• 26.8% increase in NPAT to $19.9 million,
• 8.3% increase in revenue to $67.9 million,
• 9.3% increase in cash advanced to $151.1 million,
• 23.6% increase in cash collection to $165.0 million,
• 11.1% increase of gross loan book to $474.0 million, and
• declared a fully franked 3?cents interim dividend payable on 8 April 2021.
Operational highlights:
• Acquired Automotive Financial Services (“AFS”), broadening the addressable market and adding $46.7m (end of January?2021) to the Group’s gross loan book,
• Acquired GMF Australia Pty Ltd (“GMFA”), a subsidiary of General Motors Financial Corporation Inc, adding $23.3 million to the loan book at settlement,
• Strong start to 2H FY21 with continued outperformance in customer collections because of a market leading Customer Care team that leverages strong proprietary technology,
• Oversubscribed capital raise – providing $52 million of new equity to fund acquisitions and loan book growth, • Credit Quality of book continues to improve which will lead to an ongoing reduction in impairment provisions over time,
• Secured $250 million warehouse facility with Credit Suisse –providing for a $10.0 million interest expense saving when fully deployed,
• Secured $55 million warehouse facility with Westpac.
Disc: Previously was one of my largest holdings...just recently became a small holder
