Moneyme Ltd. · ASX:MME
Moneyme — Investor Presentation (March 2023)
31 slides from Moneyme's investor presentation, Mar 30, 2023
Slide 1: Investor Presentation - Capital Raising
Investor Presentation Capital Raising 30 March 2023 moneyme.com.au Copyright 2023 | MONEYME Limited | ACN 636 747 414
Slide 2: Business highlights
01 Business highlights 09 Capital raising 16 Appendix Business highlights Page 1 | MONEYME
Slide 3: The continuing MONEYME opportunity
The continuing MONEYME opportunity Established product ecosystem spanning the Best-in-class proprietary technology that Superior customer customer’s credit lifecycle delivers a real competitive edge experience vs incumbents… 1 enabled through technology Game-changing Autopay innovation attracted and
Slide 4: Superior customer experience that solves traditional lender pain-points
Superior customer experience that solves traditional lender “pain-points” 0 Net Promoter Rating2 Traditional offerings -100 +100 Score (NPS)1 59 NPS Loan applications and settlement Straight-through processing usually take days, sometimes capable of delivering funding weeks within minutes +59 MONEYM
Slide 5: 1H FY23 financial highlights
1H FY23 financial highlights Returns Book profile Funding & liquidity Statutory NPAT Closing gross customer receivables Unrestricted cash $9m 147% From ($19m) in 1H22 $1,237m 110% From $590m in 1H22 $16m 29% From $23m in 1H22 Gross revenue Originations Undrawn securitization facility funding2 $121m
Slide 6: Increased credit quality of portfolio
Increased credit Average Equifax score vs. Equifax cohort % for each half-year period: quality of portfolio Total portfolio Front book1 only Average Equifax score Average Equifax score 800 and above 800 and above 200% 800 200% 700 to 799 700 to 799 Significant uplift in the credit profile of the Und
Slide 7: Funding program update
Funding program update • MONEYME currently has 5 warehouse and 2 term structures that provide Active warehouse and term facilities ($m)2,3 non-recourse funding1 Warehouse facilities (drawn / limit) Term structures • MONEYME has built a strong track record in securitised warehousing, with a diversifi
Slide 8: Key operating measures and 2H23 trading update
Key operating measures and 2H23 trading update (2 months) Definition1 1H22 2H22 1H23 Jan + Feb 232 Returns Gross revenue ($m) 48 95 121 42 Revenue being recognised on a meaningfully larger Gross revenue growth (%) 43% 98% 27% book size Future contracted cash interest ($m) 1 178 398 395 382 Statutory
Slide 9: MONEYME continues to explore strategies to optimise asset-level funding
MONEYME continues to explore a number of strategies to optimise asset-level funding and increase returns Funding Partnership Calibrated structures to arrangements originations increase to increase to balance capital income liquidity and efficiency streams future income Page 8 | MONEYME
Slide 10: Capital raising
01 Business highlights 09 Capital raising 16 Appendix Capital raising Page 9 | MONEYME
Slide 11: Capital raise to lower corporate facility and for measured growth
Capital raise to lower corporate facility and for measured growth • Capital raising to repay short-term SocietyOne acquisition component of the corporate facility1, down to $50m as well as provide additional capital for balance sheet: Corporate ‒ Remaining balance not due until November 2025 facilit
Slide 12: Benefit of capital raising to reduce corporate facility
Benefit of capital raising to reduce corporate facility Repayment of short-term SocietyOne acquisition component of the facility and the interest cost savings positions the business for future growth Deleveraging of MONEYME …reduced facility costs2 … … and stabilises capital structure delivers… for
Slide 13: Equity raising overview
Equity raising overview Placement structure Placement • Fully-underwritten Institutional placement (“Placement”) to raise $37 million • To raise $37m via the Placement and targeting size and • Approximately 462.5 million new shares to be issued (“New Shares”), representing 163.3% of an additional $5
Slide 14: Sources & uses of capital
Sources & uses of capital Sources and uses summary • Capital raising of $37m used for: $ million Amount % of total ‒ Repayment of short term corporate debt Placement 37 100-88% Share purchase plan 0-5 0-12% ‒ Transaction costs Total sources 37-42 100% ‒ Additional cash to balance sheet Repayment of
Slide 15: Pro forma 1H23 balance sheet
Pro forma 1H23 Balance sheet movements balance sheet $ million 1H23 Accrued int. & fees1 Capital Raising2 Debt repayment Fees Pro forma Unrestricted cash 16 - 37 (32) (2) 19 • $37m raised through the Placement Net customer receivables 1,161 - - - - 1,161 Other assets 190 - - - - 190 • Corporate debt
Slide 16: Equity raising timeline
Equity raising timeline1 Placement – events Date Trading halt Tuesday, 21 March 2023 • Placement will require shareholder approval Bookbuild commences Friday, 24 March 2023 under ASX Listing Rule 7.1 Bookbuild finalised 3.00pm, Wednesday, 29 March 2023 • All new shares from Placement to be issued po
Slide 17: Appendix
01 Business highlights 09 Capital raising 16 Appendix Appendix Page 16 | MONEYME
Slide 18: Income statement
Income statement (2 months) $ million 1H22 2H22 1H23 Jan + Feb 231 Interest income 45 83 119 37 Other income 3 12 2 5 Gross revenue 48 95 121 42 Commission expense (0) (2) (2) (1) Net revenue 48 93 119 41 Interest expense (12) (27) (42) (15) Sales & marketing expense (8) (14) (6) (1) Product design
Slide 19: Balance sheet
Balance sheet $ million 1H22 2H22 1H23 Feb’231 Cash and cash equivalents 68 81 79 77 Net customer receivables 546 1,264 1,161 1,118 Current tax asset 0 0 - - Deferred tax asset 6 3 3 3 Derivative financial instruments - 10 10 10 Intangible assets 4 36 35 35 Right of use assets 1 3 2 2 Property, plan
Slide 20: Cash flow statement
Cash flow statement (2 months) $ million 1H22 2H22 1H23 Jan + Feb 231 Income from customers 43 73 101 37 Payments to suppliers and employees (16) (35) (39) (6) Income from delinquent asset sales and recoveries 5 9 11 4 Income tax refund received - - 0 0 Net cash inflows from operating activities 32
Slide 21: Measure definitions
Measure definitions Note Measure Definition The sum of the total amount of interest payable by each customer receivable over the remaining life of the customer receivable contract (i.e. from 1 July onwards to its maturity) 1 Future contracted cash interest ($m) based on simple interest on principal
Slide 22: Key risks (1 of 4)
Key risks (1 of 4) This section discusses some of the key specific and general risks that Shareholders may be exposed to by making an investment in MONEYME may be unable to access funding, or funding available to MONEYME may be on unsatisfactory terms or on terms which MONEYME Shares. The risks set
Slide 23: Key risks (2 of 4)
Key risks (2 of 4) MONEYME is required to subscribe for subordinated debt in the existing securitisation funding arrangements, which provides credit support An increase in the cash rate may increase the cost of funding available to MONEYME, which is a key variable cost of the business. for the debt
Slide 24: Key risks (3 of 4)
Key risks (3 of 4) MONEYME is also a member of the Australian Financial Complaints Authority (AFCA), which is an external dispute resolution scheme that Protection and ownership of technology and intellectual property considers complaints made about (among other things) consumer credit products. AFC
Slide 25: Key risks (4 of 4)
Key risks (4 of 4) People Timing of financial information The successful operation of MONEYME will depend on the retention, performance and expertise of its key management personnel and high The financial information set out in this Presentation includes unaudited pro forma financial information. No
Slide 26: Summary of placement agreement (1 of 2)
Summary of placement agreement (1 of 2) MONEYME Limited (MONEYME or Company) has appointed Morgans Corporate Limited (ACN 010 539 607) (Lead Manager) to act as sole The Lead Manager may, in its sole discretion, terminate its obligations under the Placement Agreement if any of the following events oc
Slide 27: Summary of placement agreement (2 of 2)
Summary of placement agreement (2 of 2) • (certain market events) any of the following occurs: − a general moratorium on commercial banking activities in any one or more of certain countries is declared by the relevant central banking authority in any of those countries, or there is a material disru
Slide 28: Important notices & disclaimers (1 of 3)
Important notices & disclaimers (1 of 3) Investor presentation Important Notice and Disclaimer This presentation does not constitute, or form part of, an offer to sell or the solicitation of an offer to subscribe for or buy any securities, nor the solicitation of any vote or approval in any jurisdic
Slide 29: Important notices & disclaimers (2 of 3)
Important notices & disclaimers (2 of 3) Forward looking statements and risks fault or negligence or in respect of any expenses, losses, damages or costs incurred) in respect of, and make no representations or warranties (express or implied) as to the fairness, currency, accuracy, reliability or com
Slide 30: Important notices & disclaimers (3 of 3)
Important notices & disclaimers (3 of 3) International offer restrictions This document has been given to you on the basis that you are an "institutional investor" or an "accredited investor" (as such terms are defined in the SFA). If you are not such an investor, please return this document immedia
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