Pioneer Credit Ltd · ASX:PNC
Pioneer Credit — Shareholder Meeting (November 2022)
23 slides from Pioneer Credit's shareholder meeting presentation, Nov 2, 2022
Slide 1: Managing Director Presentation - 1Q23 Performance Update
ASX release 2 November 2022 Managing Director Presentation - 1Q23 Performance Update Following is Pioneer Credit Limited’s (ASX: PNC) (‘Company’) Managing Director’s Presentation and 1Q23 Performance Update to be presented following the close of the Company’s Annual General Meeting being held by liv
Slide 2: Presentation Keith John
bioneer credit Presentation Keith John
Slide 3: Important Notice: Disclaimer
Important Notice: Disclaimer This presentation has been prepared by Pioneer Credit Limited (“Pioneer”). Disclaimer: This presentation contains information about Pioneer’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the inf
Slide 4: Investment Highlights
Investment Highlights Top 2 Australian Strong Vendor Sustainable & We Do The Right Best In Class Player Relationships Growing Income Thing Management Team • Market consolidation • Preferred purchaser of • Risk diverse performing • Strong risk and • Extensive experience supporting our Top 2 high-qual
Slide 5: Our Focus
Our Focus Ethical debt recovery, underpinned by industry leading compliance record Customer Care Flexible Options We Give Back • We treat our customers with • We don’t offer a one-size-fits-all • We proudly champion a large range empathy and respect approach of community projects • We equip our cust
Slide 6: Performance
SECTION 1 Performance
Slide 7: 1Q23 Performance
1Q23 Performance • Record 1Q Performance LIQUIDATIONS1 PDP INVESTMENT1 o Increasing liquidations portfolio wide, at a reducing cost to service, driving higher returns $30.8m $10.6m 1Q22: $24.2m 1Q22: $8.6m o 27% liquidations increase for only 7% cost uplift ▲ 27% ▲ 23% o Record Liquidations o Record
Slide 8: Portfolio
SECTION 2 Portfolio
Slide 9: Portfolio Investment
Portfolio Investment Increasing PDP investment, with opportunities for Pioneer to grow quicker PDP Investment & Investment Price1 • Continued pricing discipline Cents per $ 0.20 100 • Focus on Tier 1 banking & finance customers 80 • 5 year agreement with CBA underpins PDP investment 60 GUIDANCE 0.10
Slide 10: Pioneer Portfolio
Pioneer Portfolio $457m performing portfolio providing sustainable cashflow; $1.5bn receivables opportunity Performing Portfolio Growth PIONEER PORTFOLIO $464m $457m $2.0bn in receivables 250k active customers $377m $356m PERFORMING WIP PORTFOLIO PORTFOLIO $290m $457m $1.5bn $257m in receivables in
Slide 11: PDP Liquidations
PDP Liquidations Performance increasing across older vintages, while PDP investments drive newer vintages • Record 1Q PDP liquidations driven by: o Execution of strategic initiatives improving Liquidations by Vintage operational efficiencies o Consistent and sustainable cashflow from 34% 32% 33% 36%
Slide 12: Customer Treatment
Customer Treatment Proven customer first service, validated by NPS1; and an enviable compliance record NPS MEASURING CUSTOMER EXPERIENCE ETHICAL DEBT RECOVERY +27 (26) +18 +43 +35 ✓ Staff that are enabled to have human conversations First New Ongoing Settled NPS Contact Payers Payers Payers ✓ Underp
Slide 13: Brand Refresh
SECTION 3 Brand Refresh
Slide 14: Why we’ve changed
Why we’ve changed • Continued evolution of our positioning, reflecting who we are and what we want to be • Building on existing goodwill in the brand, and reinforce our positioning to vendor partners • Better communicate our difference to customers, employees and the market • Continue to build trust
Slide 15: What has changed
What has changed • We have evolved our Purpose and our Pioneer Principles • Purpose: To put an end to debt stress • Brand promise: With genuine care at the heart of everything we do • Principles: We’ve gone from 6 to 3 principles to honour our journey (on the right) • Website: Refreshed and simplifi
Slide 16: Brand Evolution Video
Brand Evolution Video Ctrl + click to play Ctrl + Click to play
Slide 17: Outlook
SECTION 4 Outlook
Slide 18: Funding
Funding Ample capital to fund investment growth; at below average leverage Senior Debt ($m) Maturity Date Jun-22 Sep-22 LVR Comparison1 153% Senior Facility Nov-25 207.9 210.6 136% MTN Nov-26 55.5 55.5 Ave. international LVR = 104% Total Drawn 263.3 266.1 94% 87% 84% 74% PNC PRA B2 Encore Lowell Int
Slide 19: Positive FY23 Outlook
Positive FY23 Outlook Thrive under Capitalise on PDP Grow Performing Realise operating Improving increased investment Arrangement leverage macroeconomic regulatory scrutiny opportunities Portfolio conditions • Continued investment • $39m, 64% of $61m • Risk diverse performing • Continue investment i
Slide 20: Appendix
Appendix
Slide 21: Executive Leadership
Executive Leadership Keith John Sue Symmons Barry Hartnett Andrea Hoskins Joe Terrible Managing Director General Counsel & Co. Secretary Chief Financial Officer Chief Operating Officer Chief Information Officer • Founder of Pioneer Credit • Over 25 years’ experience • Over 7 years’ experience • Stra
Slide 22: Board of Directors
Board of Directors MichaelSmith AndreaHall Peter Hall SteveTargett Michelled’Almeida Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director • Managing Director of • Over 20 years’ experience • Significant experience • Significant board and • Significant
Slide 23: Oionee
Oionee cer