Eleving Group · OMXRSE:ELEVR
Eleving — Mogo Finance — FY2018 Earnings Presentation
18 slides from Eleving's earnings presentation, February 2019
Slide 1: Earnings Call Presentation FY 2018
Earnings Call Presentation FY 2018 February 2019
Slide 2: Disclaimer
Disclaimer The information contained in this presentation has been prepared by Aalto Capital GmbH, 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 verif
Slide 3: Presenter
Presenter Modestas Sudnius Maris Kreics Chief Executive Officer Chief Financial Officer ● Modestas Sudnius has been working in Mogo Finance ● Maris has been at Mogo Finance since 2015 for more than five years ● Maris holds a Master’s degree in Finance from BA School ● He started as Lithuania country
Slide 4: Operational highlights
Operational highlights Stable growth in interest and similar income & gross profit 1) ● Improved performance on a quarterly basis, underlining strategic investments in EURm in profitability 58.4 ● Significant growth in core business with Group loans issued increasing by 52.1% 46.5% equaling EUR 121.
Slide 5: Geographic diversification
Geographic diversification Lithuania Estonia Latvia ● Population: 2.8m ● Population: 1.3m ● Population: 2.0m ● Passenger cars: 1.2m ● Passenger cars: 0.7m ● Passenger cars: 0.7m Poland ● Launch: May 2013 ● Launch: September 2013 ● Launch: May 2012 ● Loans issued 2018: EUR 17.3m ● Loans issued 2018:
Slide 6: Financial highlights
Financial highlights Net interest income significantly increased ● Significant growth in interest and similar income that correlates 41.4 with net loan portfolio increase 42.8% 35.5 ● Rapid growth in net interest income of 42.8% to EUR 41.4m (FY 25.9% 1) 34.5 29.0 2017: EUR 29.0m) 28.2 ● Improving a
Slide 7: Financial highlights
Financial highlights Revenue EURm EBITDA EURm 58.4 28.5 47.3 23.2 38.4 20.7 29.6 15.4 2016 2017 2018 2018 1) 2016 2017 2018 2) 2018 1) 2) Interest coverage ratio Cost to income ratio Capitalization ratio 29.4% 2.2 2.2 2.1 2) 35.6% 21.0% 33.0% 1.7 27.9% 1.3 18.2% 11.8% 11.5% 2016 2017 2018 2018 1) 20
Slide 8: Diversified loan portfolio
Diversified loan portfolio Net loan portfolio by country Net loan portfolio diversification 31.12.2018 2015: EUR 56.1m 2017: EUR 97.2m 2018: EUR 139.8m 1.4% 0.6% 0.1% 0.0% 2% 4.3% 3.3% 5.9% 22% 6.4% 13% 26% 20% 7.5% 33% 13.2% 22% 42 16% 15% % 7% 13.4% 21% 17% 20% 18% 17.7% 13% 78% 13% 26.1% Latvia L
Slide 9: Non-performing loans and provisioning
Non-performing loans and provisioning Net loan portfolio quality analysis NPL (35+ DPD) & impairments 31.12.2018 from gross loan portfolio 1) 10% 6% 18% Current 16% 14% 1-10 days overdue 12% 8% 10% 11-30 days overdue 8% 6% 31-34 days overdue 4% 2% 35+ days overdue 0% (NPL) 76% 35+ DPD from total, %
Slide 10: Assets & Liabilities
Assets & Liabilities Assets, EURm Liabilities, EURm 179.0 112.5 Interest bearing Bonds 48.6 98.1 liabilities 71.0 P2P 62.0 EUR 155.7m Non-related parties 9.0 2015 2016 2017 2018 2015 2016 2017 2018 Cap ratio -0.5% 21.0% 11.8% 11.5% Average cost of borrowing ● 85% of assets consists of net loan portf
Slide 11: Strategy
Strategy Controlling ● Flexibility and speed of execution ● Growth with-in hubs ● HUB structures ● Inter-HUB knowledge ● Establishing Longo Sustainable sharing initiatives ● Clear focus on core profitable business growth Short-term strategy Mid-term strategy 11
Slide 12: Summary
Summary ● Leveraging product and operational know-how within the group ● Full focus on mid-tier countries‘ profitability ● Fully utilising mature countries potential and still maintaining growth ● Controlled quality portfolio growth in start-up countries ● Ensuring cheaper funding costs ● Sustainabl
Slide 13: Appendix
Appendix 13
Slide 14: Legal (operational) structure
Legal (operational) structure Management, current Founders and former employees 95% 5% Mogo Finance S.A. HUB 1 AS HUB 2 AS HUB 3 SIA HUB 4 AS Longo Group AS Longo Netherlands Mogo AS Mogo Bulgaria EOOD MOGO Loans SRL Mogo Lend OOO B.V Renti AS Mogo Albania SHA MOGO Kredit LLC Longo Georgia LLC Loang
Slide 15: Balance sheet
Balance sheet Assets, EURm 2016 2017 2018 Equity & Liabilities, EURm 2016 2017 2018 ASSETS EQUITY Intangible assets 1.1 1.2 2.0 Share capital 1) 0.0 0.0 0.0 Property plant and equipment 0.5 0.4 3.1 Share premium 10.0 0.0 0.0 Finance lease receivables 42.3 63.9 102.3 Reserves 0.0 0.1 0.1 Instalment l
Slide 16: Income statement
Income statement Group financials, EURm 2016 2017 2018 Interest and similar income 29.6 38.4 58.4 Interest expense and similar expenses (7.2) (9.4) (17.0) Net interest income 22.4 29.0 (41.4) Impairment expense (4.2) (6.9) (11.6) Loss arising from cession of financial lease receivables (0.4) (0.2) (
Slide 17: Statement of Cash Flow
Statement of Cash Flow EURm 2016 2017 2018 EURm 2016 2017 2018 Cash flows to/from operating activities Cash flows to/from investing activities Profit before tax 6.8 10.0 3.3 Purchase of property, plant and equipment (1.2) (0.7) (6.3) and intangible assets Adjustments for: Loan repayments received 0.
Slide 18: Thank you for your attention!
Thank you for your attention! Mogo Finance Group Contact person Skanstes street 50 Māris Kreics, Group CFO LV-1013 Riga, Latvia Phone: +371 66 900 900 Home page: www.mogofinance.com E-mail: maris.kreics@mogofinance.com Investor Relations Contact person Aalto Capital Group Manfred Steinbeisser, Manag