International Personal Finance Plc · LSE:IPF
International Personal Finance — FY2024 Earnings Presentation
29 slides from International Personal Finance's earnings presentation, Feb 26, 2025
Slide 1: 2024 full-year results: Accelerating the pace of growth and change
2024 full-year results Accelerating the pace of growth and change 26 February 2025 1
Slide 2: Performance and strategy
Performance and strategy Gerard Ryan Chief Executive Officer
Slide 3: A very strong full-year performance
A very strong full-year performance Next Gen strategy underpinning performance +1.5% Exceptional execution driving growth momentum £85.2m 15.7% Pre-exceptional Return on Financial results ahead of guidance profit before tax required equity Increased returns to shareholders 11.4p 54% Dividend per sha
Slide 4: Since 1997, we have helped 15m customers gain access to essential financial services
Since 1997, we have helped 15m customers gain access to essential financial services
Slide 5: Making progress on our Next Gen strategic priorities
Making progress on our Next Gen strategic priorities Financial Organisation Technology inclusion and data Building the products, Becoming a more efficient Becoming a data driven channels and territories to organisation that makes a and technology-enabled ensure our propositions are positive impact p
Slide 6: Next Gen financial inclusion
Next Gen financial inclusion • 150,000 credit card customers in Poland - new licence will accelerate growth • New branch in Mexico and attracting customers in new regions • Expanded point of purchase finance in Romania - 700 partners • Launched retail distribution channel in Mexico – 50 partners • B
Slide 7: Next Gen organisation
Next Gen organisation • Field transformation in European home credit to deliver process efficiency and develop talent • Single leadership structure in place for European home credit to drive commonality of process and systems • Expansion of credit card product will leverage Polish leadership and sys
Slide 8: Next Gen tech and data
Next Gen tech and data • Meeting customer expectations - new customer app in Mexico has 360,000 downloads • High engagement with ProviGo customer app in Poland – 55% penetration and 1.3m+ log-ons per month • Transforming customer experience in European home credit with omnichannel service • Integrat
Slide 9: Financial performance
Financial performance Gary Thompson Chief Financial Officer
Slide 10: Strong financial performance
Strong financial performance Pre-exceptional profit before tax • Pre-exceptional profit before tax of £85m, ahead of CAGR = 5% 1.5% interim guidance, despite £5m FX headwind £83.9m £85.2m1 £77.4m • Continued financial progress underpinned by: - Outstanding customer repayment behaviour - Excellent op
Slide 11: Robust demand driving customer lending growth
Robust demand driving customer lending growth £1,215m £662m • Group customer lending up 9% £1,151m £627m £1,126m £602m • European home credit: - Romania, Hungary and Czech Republic combined delivered 9% 13% 12% growth - Growth accelerated through 2024 increasing from 8% in H1 to 17% in H2 - Poland r
Slide 12: Accelerating receivables growth
Accelerating receivables growth £869m £893m £870m £496m • Acceleration in Group receivables growth of 7% (0% at June 2024) £475m £460m • European home credit: 7% 3% - 13% increase in Romania, Hungary and the Czech Republic - Reduction of 13% in Poland but increased lending volumes led to 6% growth i
Slide 13: Progressing against medium-term targets
Progressing against medium-term targets Revenue yield Impairment rate Cost-income ratio1 59% 18% 70% 58% 57% Target range Ex. Poland 16% 16% 65% 56% 14% Target range 61.0% 14% 55% 60% 54.7% 12% 53% Ex. Poland 10% 55% 9.6% 51% 8% 50% 51% 6% Target range 49% 49% 4% 45% 47% 2% 45% 0% 40% H1-22 FY-22 H1
Slide 14: Strong growth in returns, earnings and dividends
Strong growth in returns, earnings and dividends Return on required equity (RoRE)1 Pre-exceptional earnings per share (EPS)1 Dividend per share (DPS) 24.9p 0.9ppts 23.2p 7.3% 11.4p 10.7% 20.8p 10.3p 15.7% 9.2p 14.6% 14.8% H1-22 H1-23 H1-24 2022 2023 2024 2022 2023 2024 2022 2023 2024 • Improved RoRE
Slide 15: Robust funding position following successful refinancing
Robust funding position following successful refinancing • Nearly £400m funding secured in 2024 following successful refinancing of the Eurobond £441m £20m bonds secured in 2025 • Rating upgrade from BB- to BB from Fitch Ratings £657m total debt facilities • Secured £103m of bank facilities of which
Slide 16: Strong capital position supports further £15m share buyback
Strong capital position supports further £15m share buyback • Equity to receivables reduced from 56% to 54%: * RoRE - £57m of foreign exchange losses taken to reserves 15% - 20% - Successful completion of £15m share buyback in 2024 • Strong capital position supports: Our - Further £15m share buyback
Slide 17: Outlook
Outlook Gerard Ryan Chief Executive Officer
Slide 18: Delivering our growth vision
Delivering our growth vision Accelerating Accelerating the pace of growth the pace of change Credit cards Xenia omnichannel touchpoints Expanding retail partnerships Customer apps Digital offerings Transformation office Poland recovery Credit card platform Mexico expansion and product diversificatio
Slide 19: Focused on delivering growth and returns
Focused on delivering growth and returns Accelerating the pace of growth and change 19 20
Slide 20: Questions
Questions
Slide 21: Appendices
Appendices
Slide 22: Group
Group Change at 2024 2023 Change Change CER £m £m £m % % Customer numbers (000s) 1,652 1,700 (48) (2.8) Customer lending 1,214.5 1,150.6 63.9 5.6 9.2 Average gross receivables 1,327.5 1,388.9 (61.4) (4.4) (1.6) Closing net receivables 870.0 892.9 (22.9) (2.6) 6.8 Revenue 726.3 767.8 (41.5) (5.4) (2.
Slide 23: European home credit
European home credit Change at 2024 2023 Change Change CER £m £m £m % % Customer numbers (000s) 725 754 (29) (3.8) Customer lending 662.1 601.7 60.4 10.0 12.6 Average gross receivables 706.0 791.1 (85.1) (10.8) (8.9) Closing net receivables 459.6 475.4 (15.8) (3.3) 3.0 Revenue 328.2 375.9 (47.7) (12
Slide 24: Mexico home credit
Mexico home credit Change at 2024 2023 Change Change CER £m £m £m % % Customer numbers (000s) 680 716 (36) (5.0) Customer lending 289.2 302.8 (13.6) (4.5) 1.4 Average gross receivables 306.9 299.4 7.5 2.5 8.5 Closing net receivables 159.4 187.1 (27.7) (14.8) 3.0 Revenue 263.8 261.6 2.2 0.8 7.1 Impai
Slide 25: IPF Digital
IPF Digital Change at 2024 2023 Change Change CER £m £m £m % % Customer numbers (000s) 247 230 17 7.4 Customer lending 263.2 246.1 17.1 6.9 9.9 Average gross receivables 314.6 298.4 16.2 5.4 8.1 Closing net receivables 251.0 230.4 20.6 8.9 17.6 Revenue 134.3 130.3 4.0 3.1 6.1 Impairment (27.0) (37.1
Slide 26: Strong financial profile
Strong financial profile 2024 2023 Receivables (£m) 870.0 892.9 Equity (£m) 466.3 501.9 Equity to receivables 53.6% 56.2% Gearing 1.1 times 1.0 times Interest cover 2.6 times 2.5 times Pre-exceptional EPS 24.9p 23.2p Pre-exceptional RoE 11.5% 11.1% Pre-exceptional RoRE 15.7% 14.8%
Slide 27: Balance sheet
Balance sheet 2024 2023 Change at £m £m CER Goodwill 22.6 23.6 - Fixed assets 68.8 70.0 4.6% Receivables 870.0 892.9 6.8% Cash 27.6 42.5 (31.0)% Borrowings (515.9) (511.8) (9.1)% Other net liabilities (6.8) (15.3) 62.6% Equity 466.3 501.9 3.2%
Slide 28: Exchange rates
Exchange rates Closing rates Average Closing rates Average Dec 2024 2024 Dec 2023 2023 Polish zloty 5.2 5.1 5.0 5.2 Czech crown 30.4 29.6 28.5 27.9 Euro 1.2 1.2 1.2 1.1 Hungarian forint 496.9 466.9 441.3 437.3 Romanian leu 6.0 5.9 5.7 5.7 Mexican peso 26.0 23.0 21.5 21.9 Australian dollar 2.0 1.9 1.
Slide 29: Contacts
Contacts Rachel Moran Investor Relations Mobile: +44 7760 167637 Email: rachel.moran@ipfin.co.uk Krzysztof Adamski Group Treasurer Mobile: +48 600 400 394 Email: krzysztof.adamski@ipfdigital.com Building a better world through financial inclusion
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