Eleving Group · OMXRSE:ELEVR
Eleving — Mogo Finance — Q1 2019 Earnings Presentation
18 slides from Eleving's earnings presentation, May 2019
Slide 1: Earnings Call Presentation 3M 2019
Earnings Call Presentation 3M 2019 May 2019
Slide 2: Disclaimer
Disclaimer The information contained in this presentation has been prepared by Aalto Capital GmbH, a registered corporate finance boutique located in Munich, Germany, based among others on materials provided to us by Mogo Finance. The information in this presentation has not been independently verif
Slide 3: Presenter
Presenter Modestas Sudnius Maris Kreics Chief Executive Officer Chief Financial Officer ● Modestas Sudnius has been working in Mogo Finance ● Maris has been at Mogo Finance since 2015 for more than five years ● Maris holds a Master’s degree in Finance from BA School ● He started as Lithuania country
Slide 4: Operational highlights
Operational highlights Stable growth in interest and similar income ● Group loans issued increased by 17.0% equalling EUR 37.8m in EURm (3M 2018: EUR 32.2m), of which EUR 24.3m in mature 16.7 markets (3M 2018: EUR 24.1m) 34.7% 24.8% 13.6 1) ● To further strengthen the grip on cost of risk, several i
Slide 5: Geographic diversification
Geographic diversification Poland Lithuania Estonia Latvia ● Population: 38.0m ● Population: 2.8m ● Population: 1.3m ● Population: 2.0m ● Passenger cars: 20.7m ● Passenger cars: 1.2m ● Passenger cars: 0.7m ● Passenger cars: 0.7m ● Launch: August 2016 ● Launch: May 2013 ● Launch: September 2013 ● Lau
Slide 6: Financial highlights
Financial highlights Net interest income significantly increased ● Interest and similar income up significantly by 34.7% to 12.1 EUR 16.7m (3M 2018: EUR 12.4m) 1) 37.5% 37.7% 10.6 ● Rapid growth in net interest income of 37.5% to EUR 8.8 7.7 1) 12.1m (3M 2018: EUR 8.8m) ● Quarterly increase in EBITD
Slide 7: Financial highlights
Financial highlights Revenue EURm EBITDA EURm 58.4 23.2 20.7 38.4 16.7 1) 7.5 1) 13.6 6.3 12.4 4.4 2017 2018 3M 2018 3M 2019 3M 2019 2017 2018 3M 2018 3M 2019 3M 2019 Interest coverage ratio Cost to income ratio Capitalization ratio 1) 2.5 1) 33.6% 43.1% 2.2 35.6% 27.9% 29.8% 1) 1.3 1.3 24.0% 1.2 11
Slide 8: Diversified loan portfolio
Diversified loan portfolio Net loan and rent portfolio by country Net loan and rent portfolio diversification 31.03.2019 0% 0% 0% 2017: EUR 97.2m 2018: EUR 140.3m 31.03.2019: EUR 152.2m 5% 3% 3% 1% 0.1% 6% 7% 22% 7% 9% 23% 13% 22% 27% 12% 26% 33% 13% 16% 7% 17% 73% 17% 18% 9% 17% 20% 13% 13% 23% 12%
Slide 9: Non-performing loans and provisioning
Non-performing loans and provisioning Net loan portfolio quality analysis NPL (35+ DPD) & impairments 31.03.2019 from gross loan portfolio 1) 10% 7% 18% Current 16% 14% 1-10 days overdue 12% 8% 10% 11-30 days overdue 8% 6% 31-34 days overdue 4% 2% 35+ days overdue (NPL) 0% 75% 2016 2016 2016 2016 20
Slide 10: Assets & Liabilities
Assets & Liabilities Assets, EURm Liabilities, EURm 192.5 179.0 112.5 57.1 Bonds Interest bearing liabilities 99.4 P2P EUR 169.0m Non-related parties 12.5 2017 2018 Q1 2019 2017 2018 Q1 2019 Cap ratio 11.8% 11.5% 11.8% ● 89% of assets consists of net loan portfolio, rent portfolio ● Overall liabilit
Slide 11: Strategy
Strategy Controlling ● Flexibility and speed of execution ● Growth with-in hubs ● HUB structures ● Inter-HUB knowledge ● Establishing Longo Sustainable sharing initiatives ● Clear focus on core profitable ● Full established Security business growth function Short-term strategy Mid-term strategy 11
Slide 12: Summary
Summary ● Continue quality growth in mid-tear markets and through optimized processes bring them to profitability this year ● Accelerate the time to profitability in tested and most promising start-up markets to reach it in record time ● Strengthen control over portfolio and decrease cost of risk wi
Slide 13: Appendix
Appendix 13
Slide 14: Legal (operational) structure
Legal (operational) structure Management, current Founders and former employees 95% 5% Mogo Finance S.A. HUB 1 AS HUB 2 AS HUB 3 SIA HUB 4 AS Longo Group AS Longo Netherlands Mogo AS Mogo Bulgaria EOOD MOGO Loans SRL Mogo Lend OOO B.V Renti AS Mogo Albania SHA MOGO Kredit LLC Mogo Kazakhstan TOO Lon
Slide 15: Balance sheet
Balance sheet Assets, EURm 2017 2018 3M 2019 Equity & Liabilities, EURm 2017 2018 3M 2019 ASSETS EQUITY Intangible assets 1.2 2.0 4.5 Share capital 1) 0.0 0.0 0.0 Property plant and equipment 0.4 3.1 10.1 Share premium 0.0 0.0 0.0 Finance lease receivables 63.9 102.3 99.8 Reserves 0.1 0.1 0.0 Instal
Slide 16: Income statement
Income statement Group financials, EURm 2017 2018 3M 2018 3M 2019 Interest and similar income 38.4 58.4 12,4 16.7 Interest expense and similar expenses (9.4) (17.0) (3.6) (4.6) Net interest income 29.0 41.4 8.8 12.1 Impairment expense (6.9) (11.6) (3.6) (3.1) Loss arising from cession of financial l
Slide 17: Statement of Cash Flow
Statement of Cash Flow 3M 3M 3M 3M EURm 2017 2018 EURm 2017 2018 2018 2019 2018 2019 Cash flows to/from operating Cash flows to/from investing activities activities Profit before tax 10.0 3.3 1.1 1.4 Purchase of property, plant and (0.7) (6.3) (0.4) (3.3) equipment and intangible assets Adjustments
Slide 18: Thank you for your attention!
Thank you for your attention! Mogo Finance Group Contact person Contact person Skanstes street 50 Māris Kreics, Group CFO Simonas Jurgionis, Investor Relations Manager LV-1013 Riga, Latvia Phone: +371 66 900 900 Phone: +371 27 073 993 Home page: www.mogofinance.com E-mail: maris.kreics@mogofinance.c