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Slovar Limited — Earnings Release 2022
Aug 15, 2022
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Earnings Release
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SOLID FOUNDATION – DRIVING PROFITABLE GROWTH
money3
ASX RELEASE
16th August 2022
Media Release
Money3 Corporation Limited (“Money3” or “the Group”) (ASX: MNY) is pleased to announce it has had a record-breaking year in FY22.
Highlights for financial year 2022:
- 22.1% loan book growth from $600.9 million to $733.4 million, providing a strong foundation for FY23 revenue growth,
- 29.5% increase in Revenue to $187.9 million,
- 22.4% increase in EBITDA to $99.0 million,
- 31.6% increase in NPAT to $51.6 million,
- 22.9% increase in Earnings Per Share to 24.4 cents,
- Increase in Return on Equity of 14.6% (FY20: 9.9%, FY21: 13.4%),
- 30.0% increase in full-year dividends to 13.0 cents, with a final dividend of 7.0 cents,
- Over $300 million in available funding to support organic growth or acquisitions in FY23.
FY22 was the first full year of operations for the three business units, Money3, Go Car Finance and Automotive Financial Services, within the Group. These three business units enable the Group to operate across Australia and New Zealand, covering the full spectrum of credit for consumers and businesses looking to finance a vehicle.
The Group has positioned itself as a leading provider of vehicle finance for used vehicles in Australia and New Zealand, following acquisitions over the past three years. The Group’s focus for FY22 was on ensuring sustainable funding sources and laying the platform for future profitable growth which is evidenced in the available funding to support growth.
By expanding the Direct business channel in FY22 through direct to customer initiatives and other lead generating partnerships, it has ensured the Group’s diversification across all distribution channels. The Group also increased its product and distribution footprint through funding new vehicles together with vehicles used for commercial purposes.
Commencing FY23 with more than $300 million of available funding, the Group is well placed to continue to grow organically as well as being able to fund potential strategic acquisitions.
Money3’s Managing Director and CEO, Scott Baldwin, said: “The Group continues to grow, despite a mixed global macro operating environment, delivering 22% increase in loan book in FY22. With loan book growth expected to continue through FY23, underpinning ongoing revenue growth.”
“The Group starts FY23 in a very strong position as credit quality has continued to improve year on year. We anticipate this will continue to drive down impairment provisions across the Group.”
“Our Group’s funding continues to improve providing the Group with funding diversification and significant headroom to grow. This places the Group in a very enviable position relative to many of its peers.”
Money3 Corporation Limited
ABN 63 117 296 143 | Australian Credit Licence 389 782
Level 1, 40 Graduate Road, Bundoora VIC 3083
+61 3 9093 8255 | [email protected]
money3.com.au | [email protected]
money3
www.money3.com.au
AUTOMOTIVE
BUSINESS
GO CAR FINANCE
www.afs.com.au
www.gocar.co.nz
money3
ASX RELEASE
16th August 2022
SOLID FOUNDATION – DRIVING PROFITABLE GROWTH
"The momentum of new lending across the Group is strong, with current monthly origination volumes enabling the Group to target its loan book reaching $1.0 billion in 2023, with the management team now focused on initiatives to achieve its mid-term aspiration of a $3.0 billion loan book, underpinned by commercial and personal loans growth over the coming years."
Final Dividend
Money3 Corporation Limited will pay a final dividend for FY22 of 7.0 cents per share, a 30% increase on FY21, taking the full-year dividend to 13.0 cents per share.
Outlook
Consumer demand for the Group’s products continue to increase, with all three business units expected to produce record results in FY23. The Group’s expansion in product, distribution and technology are paving the way for further profitable growth.
Guidance will be provided at the Group's Annual General Meeting in November 2022.
Authorised for release by the Board of Money3 Corporation Limited.
For further information please contact:
Managing Director & CEO
Scott Baldwin
+61 3 9093 8255
[email protected]
Chief Financial Officer
Siva Subramani
+61 3 9093 8246
[email protected]
Investor Relations
Simon Hinsley
+61 401 809 653
[email protected]
ABOUT MONEY3 CORPORATION LIMITED (ASX: MNY)
Money3 Group is a market leading Consumer and Commercial finance company with over 20 years' experience in Australia and New Zealand, having funded over $2 billion of vehicles and personal loans. Dominating the used-vehicle finance market, in 2021 the Group expanded its product offering into new and commercial vehicle lending, a total market opportunity exceeding $40 billion across both countries.
Money3 Corporation Limited
ABN 63 117 296 143 | Australian Credit Licence 389 782
Level 1, 40 Graduate Road, Bundoora VIC 3083
+61 3 9093 8255 | [email protected]
money3.com.au | [email protected]
money3
www.money3.com.au
JUST MOTIVE BUILDING A TURNOVER
www.afs.com.au
GoCar Finance
Australia Limited
www.gocar.co.nz