Pt Bfi Finance Indonesia Tbk · IDX:BFIN
Pt Bfi Finance Indonesia Tbk — Q1 2023 Earnings Presentation
13 slides from Pt Bfi Finance Indonesia Tbk's earnings presentation, April 2023
Slide 1: Investor Presentation
INVESTOR PRESENTATION PT BFI FINANCE INDONESIA TBK APRIL 2023
Slide 2: Key Financial Highlights
Key Financial Highlights • YTD 1Q23 bookings was Rp6,317 bil – an increase of 53.9% YoY Growth • Total Managed Receivables up 9.9% QoQ, 44.4% YoY to Rp22,526 bil • NPF ratio of 1.06% in Mar-23, 6 bps higher QoQ and 1 bps lower YoY • Continues to maintain substantial NPF coverage at 3.8x Asset • CoC
Slide 3: Product Breakdown
Product Breakdown Continued Focus on High Returns Product Differentiates BFI From the Rest of the Market Breakdown of Bookings (excl Pinjam Modal) Breakdown of Receivables (incl Pinjam Modal) 1Q22 vs 1Q23 1Q22 vs 1Q23 1% 2% 3% 1% 2% 2% 2% 1% 4% 11% 11% 3% 13% 13% 17% 18% 10% 13% 61% 58% 61% 56% 6% 7
Slide 4: Balance Sheet Highlights
Balance Sheet Highlights BFI Maintains a Robust Balance Sheet – Enabling us to Absorb Higher Risk in a Competitive Market In Rp bil * 1Q23 1Q22 YoY ∆ Comments 1Q23 4Q22 QoQ ∆ (unless otherwise stated) Driven by NDF 4W,2W,HETO and DF New Bookings** 6,317 4,103 + 53.9% Used 6,317 6,354 V 0.6% Managed
Slide 5: Balance Sheet Highlights
Balance Sheet Highlights Strong Bookings Growth Coming out of Pandemic Quarterly Bookings (excl Pinjam Modal) Trend 2019-2023 6,354 6,317 5,198 4,581 4,425 4,185 4,043 4,104 3,780 3,895 3,350 3,137 3,196 2,921 2,166 1,333 57 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22
Slide 6: Profit & Loss Highlights
Profit & Loss Highlights One of the Most Profitable Companies in the Industry In Rp bil * YoY ∆ QoQ ∆ 1Q23 1Q22 Comments 1Q23 4Q22 (unless otherwise stated) Interest Income 1,101 785 + 40.2% Due to higher receivables growth 1,101 996 + 10.5% Bond issuance to support business Financing Cost 213 138 +
Slide 7: Key Ratios
Key Ratios Consistently Superior Ratios vs Industry In Rp bil * YoY ∆ 1Q23 1Q22 Comments 1Q23 4Q22 QoQ ∆ (unless otherwise stated) Net Interest Spread 13.6% 13.2% + 38 bps Improvement in both yield and CoF 13.6% 13.7% V 13 bps Cost to Income 42.1% 45.4% V 327 bps 42.1% 47.9% V 583 bps CoC increased
Slide 8: Superior Balance Sheet Quality
Superior Balance Sheet Quality NPF and Write-Offs Kept Low, with Excess Provisioning on the Books NPF Trend Write-Off 2018-1Q23 Trend 2018- 1Q23 4.5% 5.0% 4.1% 4.0% 4.5% 4.0% 3.5% 4.0% 3.5% 3.0% 3.0% 2.5% 2.4% 2.8% 2.5% 2.0% 1.7% 2.0% 1.8% 2.1% 2.0% 2.3% 1.5% 1.2% 1.3% 1.0% 1.1% 1.5% 0.9% 1.5% 1.5%
Slide 9: Emerging Stronger Post-Pandemic
Emerging Stronger Post-Pandemic Stringent Pandemic Risk Management Including Rigorous Collections and Credit Assessment Policies 35.5% 33.1% 25.8% 26.5% 20.2% Restructured Loans 14.8% 10.2% % of total ENR 6.9% 4.5% 2.9% 1.6% 1.0% 3.7% 2.7% 2.3% 2.1% NPL 1.7% 2.0% 1.3% 1.4% 1.1% 1.1% 1.3% 1.1% 1.1% 1
Slide 10: Strong Capital Base
Strong Capital Base Funding Sources are Well-Diversified, with High Equity Levels Resulting in Low Leverage Source of Funding External Funding 2018-1Q23 Sources 1Q23 JF 2% 6,204 6,080 8,756 9,271 Bonds & MTN 6,606 7,429 20% 684 726 103 266 3,758 258 1,581 2,678 Borrowings USD 5,196 45 10% 2,979 2,48
Slide 11: Historical Financials
Historical Financials Proven Track Record with Ability to Withstand Economic Cycles Bookings vs Receivables (Rp bil) 2018-1Q23 13,149 20,081 16,372 Higher receivables in 1Q23 15,896 7,599 6,317 due to growth in new 4,103 20,49 booking 18,343 18,509 13,947 14,571 20,498 8 22,526 2018 2019 2020 2021 2
Slide 12: Historical Financials
Historical Financials Proven Track Record – Consistently Outperforming the Industry PAT (Rp bil) Track Record ROA vs Industry ROE vs Industry 2018-1Q23 2018-1Q23 2018-1Q23 1,807 26.4% 12.2% 1,468 10.8% 21.9% 10.3% 22.4% 1,131 16.2% 9.6% 5.8% 13.9% 14.3% 14.4% 14.9% 5.8% 5.7% 11.4% 11.2% 11.4% 712 70
Slide 13: Over 2,000 Active Agents & 228 Outlets
Distribution Network Multichannel Selling Strategy with Extensive Branch and Non-Branch Touchpoints Across the Archipelago Over 2,000 Active Agents & 228 Outlets* Sumatera 11% Kalimantan 18% 40 outlets 25 outlets Sulawesi and East 48 outlets 21% Java & Bali 50% 115 outlets * Consists of 197 branches
PT BFI Finance Indonesia — Q1 2023 Earnings Presentation on 6ix