Wisr Ltd. · ASX:WZR
Wisr — Investor Presentation (February 2024)
18 slides from Wisr's investor presentation, Feb 20, 2024
Slide 1: Company Update H1FY24
COMPANY UPDATE H1FY24 February 2024 1
Slide 2: Wisr has reimagined the consumer financial journey
WISR HAS REIMAGINED THE CONSUMER FINANCIAL JOURNEY Our platform’s holistic approach to a customer’s financial life expands the relationship well beyond the transaction. FOR YOUR SMART PART 2
Slide 3: Wisr platform delivering scalability and customer impact
WISR PLATFORM DELIVERING SCALABILITY AND CUSTOMER IMPACT Financial Data and products For smarter personalisation money decisions Wisr loans Scalable Loan growth Customer management experience Analytics and Operational Organic Funding Round ups pricing efficiency growth Product innovation Capital Dat
Slide 4: H1FY24 Key Results
H1FY24 FINANCIAL LENDING KEY Operating revenue Improved yield metrics RESULTS New loan originations 66% decrease driven by $48.1M returning an 11% increase in revenue. $103M deliberate moderated loan volume settings to focus on (H1FY23 $43.2M) (H1FY23 $302M) maintenance of balance sheet strength and
Slide 5: H1FY24 Key Results
H1FY24 CAPITAL CUSTOMER KEY RESULTS Monthly active users of Freedom23 ABS transaction Well supported deal, Loan customers who decrease of c. 0.89% on Wisr App1 engaged with the Wisr $200M PL Warehouse finance Platform were on average $875M total ABS transactions costs. ↑86% 13%2 further ahead on the
Slide 6: Loan Book and Revenue
LOAN BOOK Loan book1 Loan originations AND REVENUE ● $847M1 loan book, an 8% decrease on pcp ($916M), driven by deliberate moderated loan volume settings. ● $103M loan originations, a 66% decrease on pcp ($302M), driven by deliberate moderated loan volume settings. ● $48M revenue, an 11% increase on
Slide 7: NIM
NIM Portfolio NIM movement Front book NIM movement (+11 bps) (+104 bps) ● Portfolio NIM 5.34%, an 11 bps increase on pcp (5.23%), driven by yield outpacing increase in finance costs1. ● Front book NIM (Dec-23 run rate) 7.16%, a 104 bps on pcp (6.12%), driven by strong increase in yield. ● The front
Slide 8: Credit Quality
CREDIT QUALITY ● Portfolio quality maintained, with average credit Customer credit scores and 90+ day arrears2 score strong and stable over time at 7811. ● Increased front book yield 189 bps to 13.43% on pcp while increasing credit score to 7803 on pcp (775). ● 90+ arrears 1.31%, an increase on pcp
Slide 9: Expected Credit Loss (ECL)
EXPECTED CREDIT LOSS (ECL) ● ECL $24.6M, representing 2.90% of closing loan book balance. Coverage level relatively stable since 1-Jul-23 (2.87%)1. RECONCILIATION OF EXPECTED CREDIT LOSS PROVISION % $ ● ECL expense $8.3M, representing 0.94% of average loan book balance, a decrease on pcp (1.10%). Th
Slide 10: EBITDA and Financial Metrics
EBITDA AND FINANCIAL METRICS ● EBITDA profitability and operational H1FY24 H1FY23 Variance Dec-23 Medium term1 leverage evidenced through 11% ($) ($) % run rate1 annualised revenue increase and a 26% opex annualised decrease. ● Deliberate moderated loan volume and (example for (example for $1B loan
Slide 11: Funding Program
FUNDING PROGRAM Funding at 31-Dec-23 ● Personal Loan (PL) Warehouse (WT1) ○ $400M committed funding; $196M undrawn; renewed for standard one-year period to Oct-24. ● Secured Vehicle Loan (SVL) Warehouse (WT2) ○ $250M committed funding; $82M undrawn; renewed for standard one-year period to Sep-24. ●
Slide 12: Capital Position
CAPITAL Restricted cash Cash held in warehouses and term deal trusts: POSITION $56.8M ● Undistributed customer loan repayments (principal and interest). ● Unutilised funds from note subscriptions (predominantly third-party debt). ● Use of funds restricted to funding loans and operating Cash per ware
Slide 13: H1FY24 Key Milestones Accomplished
H1FY24 KEY Revenue growth, cost reduction and ● Revenue $48.1M, an 11% increase on pcp ($43.2M) MILESTONES EBITDA profitability ● Opex $(13.1)M, a 26% improvement on pcp ($(17.6)M1) ACCOMPLISHED ● EBITDA $0.2M2, an improvement on pcp ($(0.9)M) NIM improvement ● Portfolio NIM 5.34%, an 11 bps increas
Slide 14: Appendix
APPENDIX FOR YOUR SMART PART 14
Slide 15: Profit and Loss
31-Dec-23 31-Dec-22 Variance PROFIT AND LOSS $’000 $’000 REVENUE Operating income 48,113 43,241 11% Statutory EXPENSES Employee benefits expense (7,633) (10,530) (28)% Other comprehensive loss movement: Marketing expense (184) (1,399) (87)% The loss arising from changes in fair value of cash flow he
Slide 16: Balance Sheet
31-Dec-23 30-Jun-23 Variance $’000 $’000 ASSETS BALANCE SHEET Cash and cash equivalents Trade and other receivables 76,734 1,603 53,577 2,032 43% (21)% Loan receivables 827,817 909,217 (9)% Statutory Other assets 2,162 1,620 33% Property, plant and equipment 168 280 (40)% Net Assets movement: Relate
Slide 17: Cash Flow
31-Dec-23 31-Dec-22 Variance $’000 $’000 CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOW Receipts from customers Payments to suppliers and employees (inclusive of GST) 47,282 (13,596) 41,899 (21,788) 13% (38)% 33,686 20,111 67% Statutory Interest received 753 102 638% Management fees received 66 178
Slide 18: Disclaimer
No investment advice or offer of shares Statements about past performance are DISCLAIMER not necessarily indicative of future This presentation does not constitute performance. To the extent required by investment advice, or an inducement or law, neither Wisr of any of its directors, recommendation