Humm Group Limited · ASX:HUM
Humm — Shareholder Meeting (November 2023)
25 slides from Humm's shareholder meeting presentation, Nov 16, 2023
Slide 1: Annual General Meeting
ANNUAL For personal use only GENERAL MEETING Andrew Abercrombie | Chairman Stuart Grimshaw | CEO 16 November 2023 Authorised for release by the hummgroup Board of Directors humm Group Limited, ACN 122 574 583 Level 1, 121 Harrington Street, The Rocks, Sydney NSW 2000
Slide 2: Welcome
FY23 AGM // NOVEMBER 2023 For personal use only WELCOME 2
Slide 3: Chairman's Address
FY23 AGM // NOVEMBER 2023 For personal use only CHAIRMAN’S ADDRESS ANDREW ABERCROMBIE 3
Slide 4: CEO's Address
FY23 AGM // NOVEMBER 2023 For personal use only CEO’S ADDRESS STUART GRIMSHAW 4
Slide 5: Highlights
FY23 AGM // NOVEMBER 2023 FY23 HIGHLIGHTS ‘LARGER’ For personal use only CREATING SHAREHOLDER ROBUST CREDIT COST OUT STRONG BALANCE SHEET TRANSACTION VALUE VALUE PERFORMANCE EXECUTION POSITION FINANCIER $75.0m $4.2b Normalised cash profit (after tax) in $112m 1.8% FY23 2% down on pcp in receivables
Slide 6: Continued Growth from Commercial Business
FY23 AGM // NOVEMBER 2023 CONTINUED GROWTH FROM COMMERCIAL BUSINESS NON-BANK LENDERS OVERTAKE BANKS AU AND NZ’S LEADING PROVIDER SPEED TO DECISION AND SETTLEMENT, For personal use only AS PROVIDERS OF SME LENDING OF SPECIALIST ASSET FINANCE WITH SPECIALIST OFFERING A KEY Equipment finance TAM1 $45b
Slide 7: Consumer Business Repositioned for Growth
FY23 AGM // NOVEMBER 2023 CONSUMER BUSINESS REPOSITIONED FOR GROWTH For personal use only NON-CORE PRODUCTS COST OUT MARGIN PROFITABLE REMOVED INITATIVES MANAGEMENT GROWTH Focus on capital allocation $18.6m in costs removed in FY23 Consumer repricing improving Growth in core ‘larger transaction valu
Slide 8: Capacity to Fund Growth
FY23 AGM // NOVEMBER 2023 CAPACITY TO FUND GROWTH WHOLESALE FUNDING AND CORPORATE DEBT FACILITIES WHOLESALE FUNDING FACILITIES For personal use only • Over $1b of public asset-backed securities issuance during FY23 despite challenging Released approximately $695m of additional funding markets, with
Slide 9: Efficient and Effective Use of Capital to Drive Returns
FY23 AGM // NOVEMBER 2023 EFFICIENT AND EFFECTIVE USE OF CAPITAL TO DRIVE RETURNS For personal use only STRONG AND STABLE BALANCE FULLY FRANKED PRE-TAX SHEET DIVIDEND RETURN OF 6.2%1 CAPITAL INITIATIVES >> Receivables grown >> Fully franked FY23 >> Board approved share to $4.2b in FY23 dividends tot
Slide 10: Q1FY24 Update
FY23 AGM // NOVEMBER 2023 Q1FY24 UPDATE CONTINUED VOLUME AND RECORD LOW RECEIVABLES DRIVING For personal use only RECEIVABLE GROWTH LOSS RATES ACROSS NET INCOME1 THE GROUP GROWTH >> 10 bps reduction in net loss to ANR to 1.6% compared to pcp across the total >> 8% growth in volumes across continuing
Slide 11: Competitive Advantage and FY24+ Priorities
FY23 AGM // NOVEMBER 2023 COMPETITIVE ADVANTAGE AND FY24+ PRIORITIES COMPETITIVE • Strong franchise with excellent brands and track record of growth For personal use only ADVANTAGE • Origination and management of the customer via merchant/broker network and direct • Capital management and funding re
Slide 12: Outlook
FY23 AGM // NOVEMBER 2023 OUTLOOK For personal use only PROFITABLE STRONG CAPITAL POSITIVE CREDIT EXECUTION OF CAPITAL INITIATIVES GROWTH AND BALANCE PERFORMANCE COST SAVINGS TO IMPROVE WITH FY23 SHEET POSITION SHAREHOLDER COMMERCIAL VALUE VOLUMES DELIVERING “LOCKED IN NII1” FOR FY24 1. Net interest
Slide 13: CEO's Address: In Closing
FY23 AGM // NOVEMBER 2023 For personal use only CEO’S ADDRESS IN CLOSING 13
Slide 14: Items of Business
FY23 AGM // NOVEMBER 2023 ITEMS OF BUSINESS For personal use only 01 | Consideration of Reports 02 | Re-election of Director, Mr Andrew Abercrombie 03 | Adoption of the 2023 Remuneration Report 04 | Grant of Performance Rights to Mr Stuart Grimshaw 05 | Amendment of Constitution 14
Slide 15: Consideration of Reports
FY23 AGM // NOVEMBER 2023 Item 1. For personal use only Consideration of Reports To receive and consider the Company’s Financial Report, Directors’ Report and the Independent Auditor’s Report for the year ended 30 June 2023. 15
Slide 16: Re-election of Director, Mr Andrew Abercrombie
FY23 AGM // NOVEMBER 2023 Item 2. For personal use only Re-election of Director, Mr Andrew Abercrombie To consider and, if thought fit, to pass the following resolution as an ordinary resolution: That Mr Andrew Abercrombie, a Director of humm Group Limited who retires at the close of the AGM in acco
Slide 17: Re-election of Director: Proxy numbers
FY23 AGM // NOVEMBER 2023 Item 2. For personal use only Re-election of Director, Mr Andrew Abercrombie Proxy numbers For — 217,567,702 96.46% Against — 6,684,019 2.96% Open — 1,299,856 0.58% Abstain — 27,293,731 17
Slide 18: Adoption of Remuneration Report
FY23 AGM // NOVEMBER 2023 Item 3. For personal use only Adoption of Remuneration Report To consider and, if thought fit, to pass the following non-binding resolution of the Company: That, for the purposes of section 250R(2) of the Corporations Act 2001 (Cth), the Company’s Remuneration Report for th
Slide 19: Adoption of Remuneration Report: Proxy numbers
FY23 AGM // NOVEMBER 2023 Item 3. For personal use only Adoption of Remuneration Report Proxy numbers For — 98,133,088 79.37% Against — 25,016,953 20.23% Open — 493,324 0.40% Abstain — 220,548 19
Slide 20: Grant of Performance Rights to Mr Stuart Grimshaw
FY23 AGM // NOVEMBER 2023 Item 4. For personal use only Grant of Performance Rights to Mr Stuart Grimshaw To consider and, if thought fit, to pass the following ordinary resolution of the Company: That, for the purposes of ASX Listing Rule 10.14, sections 200B and 200E of the Corporations Act 2001 (
Slide 21: Grant of Performance Rights: Proxy numbers
FY23 AGM // NOVEMBER 2023 Item 4. For personal use only Grant of Performance Rights to Mr Stuart Grimshaw Proxy numbers For — 196,201,563 77.69% Against — 55,050,312 21.80% Open — 1,291,489 0.51% Abstain — 301,944 21
Slide 22: Amendment of Constitution
FY23 AGM // NOVEMBER 2023 Item 5. For personal use only Amendment of Constitution To consider and, if thought fit, to pass the following special resolution of the Company: That, for the purposes of section 136(2) of the Corporations Act 2001 (Cth) and for all other purposes, the Constitution of the
Slide 23: Amendment of Constitution: Proxy numbers
FY23 AGM // NOVEMBER 2023 Item 5. For personal use only Amendment of Constitution Proxy numbers For — 165,358,760 65.76% Against — 84,781,603 33.71% Open — 1,327,197 0.53% Abstain — 1,368,816 23
Slide 24: Thank You
For personal use only YOU THANK
Slide 25: Disclaimer
FY23 AGM // NOVEMBER 2023 DISCLAIMER For personal use only No Recommendation, Offer, Invitation or Advice anything contained in, or omitted from, this presentation. This presentation is not a financial product or investment advice or recommendation, offer or invitation by any person or to any person