Slide 1: FY22 Results Presentation
FY22 Results Presentation 26 AUGUST 2022
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation and the information accompanying it Forward Statements Market and industry data (Presentation) has been prepared and provided solely by PEXA No representation or warranty, expressed or implied, is made This Presentation contains statistics, data and
Slide 3: Overview
Overview Today’s presenters Today’s agenda FY22 Business Highlights 4 Glenn King Group Managing Director FY22 Business Overview & Performance 7 and Chief Executive Officer FY22 Financial Summary 17 Trading Update & Outlook 25 Richard Moore Q&A 28 Group Chief Financial Officer Appendix 29 3
Slide 4: FY22 Business Highlights
FY22 Business Highlights
Slide 5: PEXA's focused growth strategy and commitment to our values, our people and our community
PEXA’s focused growth strategy and commitment to our values, our people and our community underpinned FY22 performance Highly engaged team continuing to execute on clearly articulated strategy, delivering strong outcomes for customers TEAM ENGAGEMENT 80% Top quartile1 +74 PEXA Exchange supported rec
Slide 6: PEXA delivers strong FY22 revenue and earnings growth
PEXA delivers strong FY22 revenue and earnings growth VS PROSPECTUS VS PROSPECTUS KEY FINANCIAL METRICS VS PRIOR YEAR FORECAST KEY FINANCIAL METRICS VS PRIOR YEAR FORECAST REVENUE NPAT1 $280m +27% +13% $38m +$43m +94% PEXA EXCHANGE EBITDA1 NPAT (STATUTORY) $153m +38% +21% $22m +$34m +$24m PEXA EXCHA
Slide 7: FY22 Business Overview & Performance
FY22 Business Overview & Performance
Slide 8: PEXA Group strategy
PEXA Group strategy PURPOSE PRIORITIES ENHANCE EXPAND EXTEND EVOLVE Enhancing the core Exchange Bringing digital property settlement Providing innovative data insights Investing in our people, platform in Australia to build deeper solutions to Torrens title jurisdictions and digital services, transf
Slide 9: Clear strategy driving positive momentum across all areas of the Group
Clear strategy driving positive momentum across all areas of the Group PEXA GROUP PEXA Exchange PEXA International PEXA Insights PX Ventures Providing innovative data insights and Delivering new digital property Bringing digital property settlement Improving the property settlement digital services
Slide 10: ENHANCE: PEXA Exchange facilitating the majority of land transactions in Australia
ENHANCE: PEXA Exchange facilitating the majority of land transactions in Australia PEXA EXCHANGE Australia’s leading Electronic Lodgement Network Operator (ELNO) TRANSACTIONS Since launch PEXA has now facilitated 12 > Favourable industry conditions in FY22, million property transactions through the
Slide 11: ENHANCE: PEXA Exchange highlights – customer focus delivering value to stakeholders
ENHANCE: PEXA Exchange highlights – customer focus delivering value to stakeholders EXCHANGE HIGHLIGHTS IN FY22 FOCUS FOR FY23 > Number 1 trusted provider > Continued investment in infrastructure resilience and cyber security > NPS +74 > Creation of additional APIs for integrated banks and panel fir
Slide 12: EXPAND: PEXA International delivering in the UK; go live in September
EXPAND: PEXA International delivering in the UK; go live in September, within two years of project start Continued investigation Seven lenders successfully Remortgage go live: into other Torrens title completed testing of PEXA > Hinckley & Rugby BS September 2022 jurisdictions settlement payment sch
Slide 13: EXTEND: PEXA Insights building foundations for growth
EXTEND: PEXA Insights building foundations for growth Deliver a new generation of innovative data solutions that empower STRATEGY businesses, governments, and consumers to make better property decisions by appropriately leveraging data and our growing ecosystem of partners LANDSCAPE SEGMENT DEMAND F
Slide 14: EXTEND: PEXA Insights delivering growth organically, as well as through partnerships and M&A
EXTEND: PEXA Insights delivering growth organically, as well as through partnerships and M&A ORGANIC PRODUCTS & PARTNERSHIPS Commercial partnerships progressing, Investing c.$15m in FY23 with joint product development and research opportunities Launch 5+ new PXI products1 Launch 5+ new research prod
Slide 15: EXPAND: PX Ventures partners to deliver new digital property products and services
EXPAND: PX Ventures partners to deliver new digital property products and services Partner to create new experiences, products and services STRATEGY for PEXA customers across the broad property ecosystem Honey Insurance – live in PEXA Key. Launchpad – more than 100 Sorted – home services Broader rol
Slide 16: EVOLVE: Engaged team, highly satisfied customers, focus on ESG
EVOLVE: Engaged team, highly satisfied customers, focus on ESG OUR PEOPLE AWARDS > Introduction of Flex First – keeping connections in a hybrid world 2021 Best Place to Work – Top 3 > 80% team engagement score > 95% of employees believe wellbeing is a top priority at PEXA > 91% feel productive worki
Slide 17: FY22 Financial Summary
FY22 Financial Summary
Slide 18: Revenue, EBITDA and NPAT all well ahead of prior year; Prospectus forecasts achieved
Revenue, EBITDA and NPAT all well ahead of prior year; Prospectus forecasts achieved PRO FORMA1 FINANCIAL PERFORMANCE REVENUE AND PRO FORMA1 PEXA EXCHANGE EBITDA (A$M) 279.8 Variance % Year ended 30 June FY20 FY21 FY22 FY22PF FY21 FY22PF2 246.9 hoh3 +27% 221.0 Revenue 155.6 221.0 279.8 246.9 27% 13%
Slide 19: PEXA Exchange volume up 22% year on year
PEXA Exchange volume up 22% year on year PEXA Exchange penetration (%) 1 PEXA Exchange transaction volumes (000s)1 4,051 99% 99% > Total market volumes of 4.7m 98% 528 +22% 3,485 transactions (billable events) were up 3,326 85% 86% 12% on prior year and 14% on Prospectus 98% 443 80% 383 856 forecast
Slide 20: PEXA Exchange revenue up 26% from FY21
PEXA Exchange revenue up 26% from FY21 PEXA Exchange transaction volumes (000s)1 4,051 528 > Total Exchange volumes of 4.05m, +22% 3,485 3,326 PEXA Exchange revenue (A$M)2 up 22% from prior year and 16% on 443 383 Prospectus forecast 856 605 > Average price up $2.50 (4%) on prior 2,421 649 276.6 yea
Slide 21: PEXA Exchange gross margin improving slightly
PEXA Exchange gross margin improving slightly > Cost of sales predominantly made up of Average revenue per PEXA Exchange transaction (A$ / transaction)2 Average cost of sales per PEXA Exchange transaction (A$ / transaction)3 LSS Fees1 paid to state land registries for the pre-population of bundled p
Slide 22: Continued investment in the PEXA Exchange, exhibiting high operating leverage
Continued investment in the PEXA Exchange, exhibiting high operating leverage 92.6 GENERAL AND ADMINISTRATION 88.6 81.0 81.3 +14% > Costs of corporate team, Board and executive remuneration, professional fees, occupancy and administration 47.1 41.8 37.4 38.0 > FY22 up 24% from FY21 due to increased
Slide 23: PEXA Exchange scale benefits flowing through
PEXA Exchange scale benefits flowing through Total PEXA Exchange expenses (A$M) and PEXA Exchange EBITDA (A$M) and expense per transaction (A$)1 EBITDA margin (%) 127.1 180.0 > Growth in cost base slower than growth 120.6 60.0% in transaction volumes, resulting in total 54.6% 110.6 160.0 51.2% expen
Slide 24: Exchange operating cash flow supporting investment in growth initiatives
Exchange operating cash flow supporting investment in growth initiatives FY22 PEXA Group Statutory Cash Movements (A$M) Pro Forma Cash Flows (A$M) $ millions Pro Forma Historical Variance % Year ended 30 June FY20 FY21 FY22 FY22PF FY21 FY22PF EBITDA 45.3 101.8 130.5 107.6 28.2% 21.3% Non-cash items
Slide 25: Trading Update & Outlook
Trading Update & Outlook
Slide 26: Robust operating performance delivered through FY22; well placed for FY23
Robust operating performance delivered through FY22; well placed for FY23 FY22 volumes > 2H22 PEXA Exchange volumes of 1.9m were up 9% from 2H21; performed ahead of guidance given at half year results > FY22 volumes were up 22% YoY Comparison of PEXA Exchange volumes (000s) Current trading +37% > As
Slide 27: In closing
In closing Powered by our people, capital and capabilities — Highly engaged team working in a PEXA Flex First environment — Brand trust and customer NPS at record levels — Delivering on a clear strategy — Enhance, Extend, Expand and Evolve Delivered strong outcomes across the group in FY22 — Robust
Slide 28: Q&A
Q&A
Slide 29: Appendix
Appendix
Slide 30: EXTEND: PEXA Insights growing via programmatic M&A
EXTEND: PEXA Insights growing via programmatic M&A Slate Analytics > PEXA Insights made its second significant > PEXA Insights has acquired a 70% stake in >P EXA Insights has acquired 100% of .id which strategic investment during 2H22, taking a Slate Analytics, a progressive property analytics is a
Slide 31: The PEXA Exchange continues to perform
The PEXA Exchange continues to perform Total digital property settlement billable transactions in Australia (M)1 Transfer penetration by jurisdiction (% of transfers lodged via PEXA Exchange)2 4.7 98% 98% 96% 95% 95% 4.2 79% 3.5 77% 70% 59% 4.1 3.3 2.4 21% 9% FY20 FY21 FY22 Dec-19 Mar-20 Jun-20 Sep-
Slide 32: Key Operating Metrics and Performance vs Upgraded Guidance
Key Operating Metrics and Performance vs Upgraded Guidance Key Operating Metrics Comparison to Upgraded Guidance Variance % Variance % Year ended 30 June FY21 FY22 FY22PF FY21 FY22PF Year ended 30 June FY21 FY22 FY22PF FY21 FY22PF Year ended 30 June FY22 FY22 Key operating metrics Exchange revenue b
Slide 33: Income statement and reconciliation from Pro Forma to Statutory P&L
Income statement and reconciliation from Pro Forma to Statutory P&L Pro Forma Profit & Loss Statutory Profit & Loss Bridging Statutory P&L to Pro forma P&L $ in millions Variance % $ in millions Variance % $ millions Year ended 30 June FY21 FY22 FY22PF FY21 FY22PF Year ended 30 June FY21 FY22 FY22PF
Slide 34: Balance sheet
Balance sheet $ millions Actual Statutory As at 30-Jun-20 30-Jun-21 30-Jun-22 Statutory vs Prior Year Current assets > Cash and cash equivalents in Jun-22 greater than Jun-21 Cash and cash equivalents 70.4 51.5 75.4 position following strong operating performance Other current assets 23.0 33.1 42.9
Slide 35: pexa.com.au
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