Eleving Group · OMXRSE:ELEVR
Eleving — Mogo Finance — FY2020 Earnings Presentation
18 slides from Eleving's earnings presentation, February 2021
Slide 1: Earnings Call Presentation FY 2020
Earnings Call Presentation FY 2020 February 2021
Slide 2: Disclaimer
Disclaimer The information contained in this presentation has been prepared by Aalto Capital AG, a registered corporate finance boutique located in Munich, Germany, based among others on materials provided to us by Mogo Finance The information in this presentation has not been independently verified
Slide 3: Presenters
Presenters Modestas Maris Julia Lebedinska- Sudnius Kreics Litvinova Chief Executive Officer Chief Financial Officer Chief Risk Officer ● Modestas has been at Mogo Finance since 2013 ● Maris has been at Mogo Finance since 2015 ● Julija has been at Mogo Finance since 2019 ● He started as country mana
Slide 4: Mogo Finance's – Successful strategic transition
Mogo Finance’s – Successful strategic transition To build business resilience and strong footing for 2021 Covid-19 challenges have been mastered Q2 2020 Q3 2020 Q4 2020 ● Prompt measures to mitigate Covid-19-impact on business ● Swift recovery after the first Covid-19 wave ● Operations unaffected by
Slide 5: Operational highlights
Operational highlights Speedy recovery, strong business performance Strong growth in revenue with rising contribution ● With swift recovery from the first Covid-19 wave and no impact from the second, of consumer lending, €m in 2020 Mogo Finance achieved impressive operational and financial milestone
Slide 6: Financial highlights
Financial highlights Despite macro-economic turmoil – Mogo Finance ended financial results for 2020 on a strong note Group EBITDA at all time high, €m ● All time high EBITDA of € 45.8M (12M 2019: € 31.5M )achieved; mainly driven by +45.4% 45.8 21.1 leaner and more cost-effective group structure, as
Slide 7: Financial highlights
Financial highlights Group’s financial results at all-time high Revenue, €m EBITDA, €m Net profit before FX, €m 99.2 45.8 14.7 4) 80.0 31.5 54.6 20.4 6.3 4.3 2018 2019 2020 2018 2019 2020 2018 2019 2020 Interest coverage ratio Cost to income ratio1) Capitalization ratio 1.9 43.0% 1.7 18.9% 1.6 37.7%
Slide 8: Assets & Liabilities
Assets & Liabilities Continued assets growth Assets and Equity, € m Liabilities, € m 278.0 251.1 22.6 174.3 112.5 Interest bearing 71.0 122.1 Bonds 97.7 liabilities 35.4 € 122.1m 28.8 64.1 € 223.3m 13.2 11.5 17.8 8.6 11.0 24.4 2.2 5.2 6.5 2016 2017 2018 2019 2020 Cash and cash equivalents Assets Equ
Slide 9: Diversified loan portfolio
Diversified loan portfolio Product diversification as well as optimization of the loan portfolio Net loan and used car rent portfolio by country As at 31.12.2020 Developed countries Developing countries On hold Consumer lending countries 19.0% 19% 4.8% 5% 2.5% 2.1% 6.3% 11% 5.0% 5.4% 5.9% 6.4% 7.6%
Slide 10: Issuances and cash collections
Issuances and cash collections Focus on debt collection and continued investments in underwriting technology rendered improved portfolio quality Car issuances recovered; focus back on growth 16.0 15.0% ● Mogo continued to record strong car loan demand, hence issuances increased 13% 12.0% month after
Slide 11: Non-performing loans and provisioning
Non-performing loans and provisioning € 13M q-on-q increase of stage 1 net portfolio Net car loan portfolio quality analysis Gross and net NPL portfolio 1) As at 31.12.2020 35% 8% 30% 25% 10% 20% Stage 1: Current-30 days overdue 15% Stage 2: 31-34 days overdue 10% 5% Stage 3: 35+ days overdue (NPL)
Slide 12: Recap and future outlook
Recap and future outlook Finishing strong in 2020, maintaining momentum in 2021 Response to Covid-19 2nd wave with strong results and continues improvements in income and profitability: ➢ 2021 January results show continues strong revenue and profitability development Income statement 2021-01-31 Tre
Slide 13: Appendix
Appendix 13
Slide 14: Operational structure
Operational structure Management, current Founders and former employees ~90% ~10% Mogo Finance HQ Operations Mogo DEV HUB Mogo BCE HUB Mogo EE HUB Consumer Finance Mogo Kenya Mogo Estonia Mogo Moldova Sebo Moldova Mogo Uganda Mogo Georgia Mogo Belarus Kredo Albania Mogo Uzbekistan Mogo Armenia Mogo
Slide 15: Income statement
Income statement Group financials, €m 2018 2019 2020 Interest revenue calculated using the effective interest method 54.4 72.7 88.2 Interest expense calculated using the effective interest method (12.6) (21.0) (26.2) Net interest income 41.8 51.7 62.0 Fee and commission income 3.6 3.3 4.8 Revenue fr
Slide 16: Balance sheet
Balance sheet Assets, €m 2018 2019 2020 Equity & Liabilities, EUR m 2018 2019 2020 ASSETS EQUITY Goodwill 1.7 4.0 6.7 Share capital 0.0 1.0 1.0 Internally generated intangible assets 1.9 3.6 5.9 Share premium - - - - - 1.9 Retained earnings 15.1 21.1 23.8 Other intangible assets 141.3 189.7 202.3 Fo
Slide 17: Statement of Cash Flow
Statement of Cash Flow €m 2018 2019 2020 €m 2018 2019 2020 Cash flows to/from operating activities Cash flows to/from investing activities Profit/(loss) before tax 5.7 6.6 1.6 Purchase of property, plant and equipment and Adjustments for: (1.9) (4.9) (3.9) intangible assets Amortization and deprecia
Slide 18: Thank you for your attention!
Thank you for your attention! Mogo Finance Group Contact person Skanstes street 52 Māris Kreics, Group CFO LV-1013 Riga, Latvia E-mail: maris.kreics@mogofinance.com Home page: www.mogofinance.com Investor Relations Contact person Aalto Capital Group Sven Pauly, Consultant Bahnhofstr. 98 Phone: +49 8