Solvar Limited · ASX:SVR
Solvar — Shareholder Meeting (November 2024)
14 slides from Solvar's shareholder meeting presentation, Nov 21, 2024
Slide 1: 2024 AGM Presentation
2024 AGM Presentation 21 November 2024 Scott Baldwin Siva Subramani CEO & Managing Director CFO
Slide 2: The Group
The Group Market Opportunity Vision Organisation Products Large Empower through accessible, responsible • Market leading products extending a addressable market Consumer: and flexible financial products used vehicle’s life to 2nd/3rd owners $35+ billion 1 1m new vehicles2 • Expanding commercial prod
Slide 3: Historic Group Performance
Revenue Loan Book AUD m 250 188 209 216 AUD m 1000 910 930 Historic Group 200 800 733 150 124 145 600 601 Performance 434 100 400 • Double digit growth in revenue and loan 50 200 book 0 0 • FY24: 10c fully franked dividend per share FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 • Announced share
Slide 4: FY24 Financial Results
FY24 Financial Results 5
Slide 5: FY24 Financial Results
Group Financial Results FY24 Adjustments FY24 FY23 AUDm unless stated otherwise (Normalised) (Statutory) (Statutory) FY24 Financial Results Interest Income* 216.0 216.0 209.3 • Normalised NPAT of $29.0 million Interest expense (54.8) (54.8) (41.9) • Revenue growth driven by: Net Interest Income (NII
Slide 6: Q1 FY25 Financial Results
Q1 FY25 Financial Results 7
Slide 7: Q1 FY25 – Results summary (Australia)
Q1 FY25 – Results summary (Continuing operations) Q1 FY25 Australia (Continuing Operations) Interest Bad debts NPAT (statutory) Income • Australian loan book continues to grow, 3.9% (annualised) $7.9m $46.4m flat on pcp 6.4% increase on pcp increasing 8.5% over pcp 4.9% increase on pcp • Consolidati
Slide 8: Q1 FY25 – Results summary (Group)
Q1 FY25 – Results summary (Group) Interest Bad debts NTA per share NPAT* Income 3.9% $1.62 (normalised) $54.3m (annualised) increased from $9.0m decreased from $1.58 in FY24 18.7% increase 3.6% decrease on pcp on pcp 4.4% in FY24 Loan book Opex Unrestricted Cash In $927.4m $18.6m cash $138.3m 0.3% d
Slide 9: Q1 FY25 Group Financial Results
Q1 FY25 Q1 FY25 (Unaudited) Q1 FY24 (Unaudited) Growth % Q1 FY25 Group Financial Results AUDm unless stated otherwise • Improving NPAT margin in Q1 driven by lower Interest income* 54.3 56.3 (3.6%) bad debts and prudent cost management Interest expense 14.0 14.1 (1.0%) • NZ rundown contributing to l
Slide 10: Stable credit quality with funding available for future expansion
Stable credit quality with funding available for future expansion Bad debt – By geography Australia - debt facilities Maintaining credit quality – Australia loan book AUD m 8% 7.6% 748 800 Q1 FY25 59.0% 22.0% 15.0% 4% 0.10% 7% 238 589 6% 600 5% 4.4% 179 FY24 57.6% 23.6% 14.6% 4% 0.10% 3.9% 3.9% 4.0%
Slide 11: Outlook
Outlook 12
Slide 12: FY25 Outlook
FY25 Outlook Financial Operational Market • Forecast NPAT of $34m (normalised) • No material updates regarding on-going • Changing competitive dynamics legal action providing the opportunity to take • Bad debt target range of 3.5% -4.5% market share • ~8% growth in Australian loan book to • Run-down
Slide 13: Thank-you
Thank-you Managing Director & CEO Scott Baldwin +61 3 9093 825 s.baldwin@solvar.com.au Chief Financial Officer Siva Subramani +61 3 9093 8246 s.subramani@solvar.com.au Investor Relations Tom Ng +61 3 7031 6075 t.ng@solvar.com.au
Slide 14: Disclaimer
Disclaimer The content of this presentation has been prepared by Solvar Limited (the Company) for general information purposes only. Any information included in this presentation on future financial performance, including industry sectors, income, profit and employment types, represent estimates of