S&u Plc · LSE:SUS
S&u — H1 2026 Earnings Presentation
31 slides from S&u's earnings presentation, Aug 5, 2026
Slide 1: Gearing up for Growth: Our Half Year Results to 5 August 2026
Gearing up for Growth Our Half Year Results to 5 August 2026
Slide 2: Today’s speakers
www.suplc.co.uk Today’s speakers Anthony Coombs Graham Coombs Jack Coombs Chris Freckelton Karl Werner Ed Ahrens Chairman Deputy Chairman Chief Operations Officer Group Finance Director CEO Advantage Finance CEO Aspen Bridging 1
Slide 3: Our wonderful customers and staff
www.suplc.co.uk Our wonderful customers and staff Absolutely tremendous……. Friendly…… “Absolutely tremendous service helped me do what was “Chloe was friendly, understanding, and straight to the point. A necessary to pay my bills due to my work changing my dates. really pleasant experience, and prob
Slide 4: Introduction
www.suplc.co.uk Introduction “S&U’s recent trading and results reflect our determination to make the necessary investment at the right returns to maximise our rewards in the future. Current trends indicate our ability to do just that - to the benefit of our customers and shareholders.” – Anthony Coo
Slide 5: Highlights for the six months to August 2026
www.suplc.co.uk Highlights for the six months to 5 August 2026 S&U ⚫ Group profit before tax: £15.7m (H1 2025: £15.6m) ⚫ Net group receivables: £541.0m (5 August 2025: £426.8m) ⚫ Group impairment charge of £8.2m (H1 2025: £8.1m) ⚫ Basic earnings per share: 96.8p (H1 2025: 95.5p) ⚫ First interim divi
Slide 6: Group financials: Income Statement
www.suplc.co.uk Group financials Our Income Statement – six months to 5 August 2026 Revenue increased in H1 due to higher receivables and better yielding loans Group Income Statement £m 5 August 26 5 August 25 Change % at Advantage Revenue 57.3 51.8 +11% Steady impairment charge reflects Impairment
Slide 7: Group Balance Sheet – August 2026
www.suplc.co.uk Group financials Group Balance Sheet – 5 August 2026 £m 5 August 26 5 August 25 Change % Comment Fixed Assets and Right of Use Assets 2.9 2.8 Amounts Receivable Motor Finance 341.1 279.1 +22% Strong lending and repayments in H1 26 Amounts Receivable Property Bridging 199.9 147.8 +35%
Slide 8: Cash Flow – six months to August 2026
www.suplc.co.uk Group financials Cash Flow – six months to 5 August 2026 Group Cash Flow Advantage Cash Flow Aspen Cash Flow ⚫ £43.3m cash outflow reflecting strong lending in both ⚫ Advances 49% higher, following cautious ⚫ Advances slightly lower in H1 26 businesses and lower collections and recov
Slide 9: Treasury and funding
www.suplc.co.uk Group financials Treasury and funding ⚫ 3-year club £280m revolving credit facility maturity May 2027. ⚫ Committed RCF and term facilities of £330m – extended by £50m in January 2026. Term facilities expire in 2028 and 2029. ⚫ £43.3m cash outflow reflecting strong lending in both bus
Slide 10: Advantage Finance Business Update
www.suplc.co.uk Advantage Finance Business Update
Slide 11: New business and the market
www.suplc.co.uk New business and the market • Extensive new credit risk capabilities (scorecard, affordability engine, valuations ruleset) progressively build lending in targeted segments • Investments in AI and automation remove friction and increase efficiency in operational areas • Advantage deli
Slide 12: Collections quality
www.suplc.co.uk Collections quality Modest reduction in % of Due performance within a challenging macro Live cash collected broadly in line with expectation environment, early improvements seen in H2 An improving trend continues throughout 2026, aligning with improvements VT on budget and within tol
Slide 13: Customer Service – ever closer relations
www.suplc.co.uk Customer Service – ever closer relations ACTIVITY TIMELINE • Continued investment to re-platform the business to enable growth in lending and financial performance, making proportionate investments in AI. Q3 2025 Installed updated credit scoring and affordability measures • Investmen
Slide 14: Regulatory update
www.suplc.co.uk Regulatory update Maintaining a top 6 position in complaints performance (FOS data to March 2026) • A dedicated remediation team is in place and are managing the FCA Commission Redress customer support and complaints process • Proactive engagement with the FCA continues, AFL’s implem
Slide 15: Our quality loan book
www.suplc.co.uk Our quality loan book Year to Year to Year to Period to Six months to 5 Average Loan profile Jan 23 Jan 24 Jan 25 5 February 26 August 26 Number of loans 23,922 22,565 12,703 18,279 10,660 Advance £7,799 £8,158 £8,609 £9,935 £9,848 Gross Receivables £403.3m £437.2m £401.8m £424.4m £4
Slide 16: First repayment quality
www.suplc.co.uk First repayment quality 1st Cash Received % vs Outcome Loss Ratio % 101.0% 3% 4% 100.5% 5% 100.0% 6% 7% 99.5% 8% 9% 99.0% 10% 98.5% 11% 98.0% 12% 13% ⚫ Strong historic correlation between 14% 97.5% 15% early repayments and end outcomes 16% 97.0% 17% 96.5% 18% 19% 96.0% 20% 95.5% 21%
Slide 17: Receivables
www.suplc.co.uk Receivables Position at end 5 August 2026 Position at end 5 February 2026 Original Contract Arrears Percentage of Live Percentage of Live Volume of Accounts Volume of Accounts Receivable Receivable Up to Date 40,615 73.07% 39,752 71.79% 0.01 – 1 mthly payments 6,087 10.58% 5,801 10.0
Slide 18: Aspen Bridging
www.suplc.co.uk Aspen Bridging
Slide 19: Summary of the half year
www.suplc.co.uk Summary of the half year ⚫ PBT of £4.0m in a tough market against £5.0m in H1 25 (which included a large unexpected recovery) ⚫ Record net receivables of £199.9m underpinned by the success of our longer-term Bridge and Buy to let offerings, the profits from which will be recognised i
Slide 20: Our quality loan book
www.suplc.co.uk Our quality loan book Since launch in 2017, Aspen has advanced £897m of capital and had only 0.03% (under £250k) of capital losses, as at half year only 17 of the 259 remaining live loans at that date are overdue Year to Year to Year to Period to 5 Six months to 5 Average Loan profil
Slide 21: Focus for 26/27 – progress so far
www.suplc.co.uk Focus for 26/27 – progress so far ⚫ New products: Our Buy to Let and Bridge to Let products designed for the longer-term investor have outperformed expectations helping build the book for the future ⚫ Expanding our channels: Adding strength to our marketing resource and skills and 1
Slide 22: Our confidence in the future
www.suplc.co.uk Our confidence in the future Opportunities abound to build on our long-established experience and expertise ⚫ Continued investment in AI and technology to improve customer outcomes, efficiency gains and commercial return ⚫ Maximising returns from new distribution channels ⚫ Excellent
Slide 23: Appendices
www.suplc.co.uk Appendices 22
Slide 24: Our business
www.suplc.co.uk Our business ⚫ Used car finance on hire purchase – 90% sourced through brokers – 5% refinances for previous customers – 5% direct from dealers ⚫ Advantage have now transacted over 250,000 loans since business started in 1999 ⚫ Deals underwritten and collected centrally – direct debit
Slide 25: Our loyal customers
www.suplc.co.uk Our loyal customers Case Study Our customer is a private tenant living in North East England and works in administration on a long-term temporary contract. They were introduced by a vehicle finance broker and borrowed £11,000, with a £670 deposit, to purchase a used car. The customer
Slide 26: Our loyal customers
www.suplc.co.uk Our loyal customers Case Study Our customer is a homeowner in full-time employment. They previously completed a four-year vehicle finance agreement, making every payment on time. The customer praised the professional, straightforward support received during the finance process. “ I c
Slide 27: Our business
www.suplc.co.uk Our business ⚫ Aspen started trading in February 2017 and provide a “fast, flexible, friendly and fair” service to customers with property bridging loan requirements ⚫ 1265 secured property bridging loan facilities have been provided to customers to date with an average gross loan fa
Slide 28: Case Study: Alderley Edge, Cheshire
www.suplc.co.uk Case Study Alderley Edge, Cheshire £1.935m Bridge-to-Let, Development Exit, 14-day Completion Aspen provided a £1,935,000 Bridge-to-Let facility to refinance a 6,500 sq. ft. five- bedroom property in Alderley Edge, Cheshire, held within the same family for more than 30 years. The pro
Slide 29: Case Study: Aylesbury, Buckinghamshire
www.suplc.co.uk Case Study Aylesbury, Buckinghamshire £2.2m Finish & Exit, ‘No-Valuation’, Additional Security Equitable Charge Aspen provided a £2,120,000 Finish & Exit facility, assessed using its internal valuation process, to refinance and complete a residential development of three new-build fo
Slide 30: Our five year record
www.suplc.co.uk Our five year record Year to Year to Year to Year to Period to 5 Six months to £m January 22 January 23 January 24 January 25 February 26 5 August 26 Revenue 87.9 102.7 115.4 115.6 107.4 57.3 Cost of Sales -18.8 -23.7 -22.8 -16.4 -23.6 -13.1 Impairment -4.1 -13.9 -24.2 -35.6 -13.0 -8
Slide 31: Disclaimer
www.suplc.co.uk Disclaimer This document and its contents do not constitute or form part of a prospectus or any offer or invitation to sell or to issue, or any solicitation of any offer to buy or subscribe for any ordinary shares in the Company nor shall it or any part of it or the fact of its distr