Pra Group, Inc. · NASDAQ:PRAA
Pra — Q1 2022 Earnings Presentation
15 slides from Pra's earnings presentation, 2022
Slide 1: Q1 2022 Conference Call Presentation
Slide 2: About Forward-Looking Statements
ABOUT FORWARD-LOOKING STATEMENTS Statements in this presentation, other than statements of historical fact, are forward-looking statements, which are based on our current beliefs, projections, assumptions and expectations concerning future operations and financial performance. Such statements involv
Slide 3: Global cash collections of $481 million
Global cash collections of $481 million Net income attributable to PRA Group of $40 million Portfolio purchases of $147 million Repurchased $39 million of common stock
Slide 4: Global Operations Show Strong Productivity
GLOBAL OPERATIONS SHOW STRONG PRODUCTIVITY Since Q1 2019, our cash efficiency ratio has improved 590 basis points Significant growth in digital Continue to leverage data and analytics Improved cash collected per hour paid in the U.S. by more than 85% versus Q1 2019 Portfolio investments helped drive
Slide 5: Q1 2022 total portfolio purchases of $147 million
Q1 2022 total portfolio purchases of $147 million Maintained discipline across our global footprint Healthy supply amongst increased competition in Europe
Slide 6: U.S. Card Balances Continue to Build, Loss Rates Inching Up
U.S. CARD BALANCES CONTINUE TO BUILD, LOSS RATES INCHING UP LATEST COMMENTARY SUPPORTS NORMALIZATION OF SUPPLY FRED 2% — consumer Loans: credit Cards and Other Revolving Plans, All Commercial Banks 880 860 840 2 2 3B 820 a 3 soo 3 5 780 = 6 760 740 es 2017-07 201801 2018-07 2019-01 201907 202001 202
Slide 7: Financial Results
FINANCIAL RESULTS (Sin millions, except per share results) Q1 2021 vs Q1 2022 Total Revenues Operating Expenses 1289 U 179 7 $241 a Ol Q1 2021 Q1 2022 Q12021 = Q1 2022 Net Income Attributable Diluted Earnings to PRA Group Per Share ba | $1.27 | $40 $0.97 Q1 2021 Q1 2022 Q12021 = Q1 2022 crane *
Slide 8: First Quarter 2021 vs First Quarter 2022
First Quarter 2021 $555.9 million Americas & Australia Core, $347.6 First Quarter 2022 Americas & Australia Core, $270.3 TRh
Slide 9: Cash Efficiency Ratio Remains High
CASH EFFICIENCY RATIO REMAINS HIGH DESPITE LOWER CASH COLLECTIONS (Cash efficiency ratio = (cash receipts — operating expenses)/cash receipts) Cash Efficiency Ratio 65.3% 65.1% 64.5% 59.9% 80% | 2018 2019 2020 2021 Q1 2022 Crap Nl
Slide 10: as of March 31, 2021 as of March 31, 2022
as of March 31, 2021 as of March 31, 2022 , $165 United States, $ 5) 7 $2315 Binion Caanp Nl
Slide 11: Strong and Conservative Capital Structure
STRONG AND CONSERVATIVE CAPITAL STRUCTURE ($ in millions) mas Total Borrowings —=Debt to Adjusted EBITDA* $2,609 $2,539 December 31, 2021 March 31, 2022 *Please refer to the reconciliation of this metric to the most applicable GAAP metric at the end of this presentation. Note: $571M available after
Slide 12: Q1 2022 share repurchase of $39 million
Q1 2022 share repurchase of $39 million at an average price of $45.88 Repurchased 12.4% of outstanding common shares since we began buying back shares in 2021 $128 million remains in our share repurchase authorization ct
Slide 13: Expanding products and market share
—_”- FF Expanding products and market share Modernizing collections and improving efficiency at all levels Being a recognized and trusted brand Fostering a high-performing workforce Grau ip
Slide 14: Q&A
Slide 15: Reconciliation of Non-GAAP Financial Measure to GAAP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURE TO GAAP Use of Non-GAAP Financial Measures PRA Group, Inc. reports financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management uses certain non-GAAP financial measures, including Adjusted EBITDA, internal