Delfingroup As · OMXRSE:DGR1R
Delfingroup As — Q4 2019 Earnings Presentation
16 slides from Delfingroup As's earnings presentation, February 2020
Slide 1: Investor Presentation 2019 Q4 Results
INVESTOR PRESENTATION 2019 Q4 RESULTS February, 2020 Until 03/02/2020:
Slide 2: Disclaimer; Definitions for Alternative Performance Measures
DISCLAIMER DEFINITIONS FOR ALTERNATIVE PERFORMANCE MEASURES* This presentation is of selective nature and is made to provide an overview of the Company’s (SIA DelfinGroup and its subsidiaries) EBITDA business. Earnings before interest, taxes, depreciation and amortization calculated as Net Income +
Slide 3: Business Profile, Brands, Values
BUSINESS PROFILE: BRANDS: VALUES: Simplicity Accessibility Respect Pawn loans Progress Consumer loans 3rd largest non bank consumer lender in Latvia* GROUP: KEY FINANCIALS: 87 branches net loan portfolio 31.6 mEUR (2019 Q4) 276 employees EBITDA 3 415 146 loan issue transactions (cumulative) 8.1 mEUR
Slide 4: Highlights
HIGHLIGHTS In 2019 Q4, Group has increased 31.6 issuance level by 15% compared 29.5 12.7 2.3 to 2018Q4. 12.5 12.5 23.7 2.1 1.9 20.8 1.8 1.8 20.2 Average loan size per customer has increased to record amount 11.0 of €672. 10.6 27.7% improvement in y-o-y Q4 EBITDA has been achieved. - growth affected
Slide 5: Market Overview: Consumer Loans
MARKET OVERVIEW: 2018 H1, mEUR 2019 H1, mEUR CONSUMER LOANS Consumer loan portfolio in EUR million as at 2018 H1 and 2019 H1, Industry* and DelfinGroup comparison. DelfinGroup* grows twice as fast as the industry, Growth 14.2% 291 16.6 Growth having 6%** market share. 255 33.6% 12.5 Industry DelfinG
Slide 6: Market Overview: Pawn Loans
MARKET OVERVIEW: 2018 H1, mEUR 2019 H1, mEUR PAWN LOANS Pawn loan portfolio in EUR million in 2018 H1 and 2019 H1, Industry* and DelfinGroup comparison. In 2019 H1, 41% of all pawn loans issued in Latvia were issued by DelfinGroup. 6.5 6.7 2.0 1.9 The market share is growing y-o-y. Industry DelfinGr
Slide 7: Consumer Loans
CONSUMER LOANS LOANS ISSUED, mEUR NET LOAN PORTFOLIO*, mEUR 6.9 2018Q4 14.6 6.3 2019Q1 15.1 8.2 2019Q2 17.3 7.8 2019Q3 18.7 7.8 2019Q4 19.9 * Loan portfolio data based on DelfinGroup net consumer loan portfolio incl. accrued interest.
Slide 8: Consumer Loans
CONSUMER LOANS Average loan tranche size per Average loan size per Weighted average term of Non-performing loans ratio issue customer loans issued € 694 575 days 5.8% € 218 € 476 422 days € 216 4.1% 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2018Q4 2019Q1 2019Q2 2019Q3 201
Slide 9: Pawn Loans
PAWN LOANS LOANS ISSUED, mEUR NET LOAN PORTFOLIO, mEUR* 4.1 2018Q4 2.1 4.3 2019Q1 2.1 4.4 2019Q2 2.0 4.7 2019Q3 2.3 4.9 2019Q4 2.5 * Includes car title loan and mortgage loan legacy portfolios.
Slide 10: Pawn Loans
PAWN LOANS Stable customer base Average loan size per issue: Pawn mark-up: Redemption rate* and stable performance of pawnshop operations. 48% 46% € 67 76% € 62 73% 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 * Items begin redeemed or exte
Slide 11: Key Financials
KEY FINANCIALS 15.1 Cash inflow* In line with historical pattern, 13.7 also 2019Q4 delivered 11.9 Cash outflow* positive net cash flow. 10.5 12.7 9.1 11.0 9.2 9.2 7.0 2015Q4 2016Q1 2016Q2 2016Q3 2016Q4 2017Q1 2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 * From consume
Slide 12: Financials
FINANCIALS 40% 40% 41% 33% 36% 2.3 3.9 3.8 2.1 1.9 1.9 3.0 3.0 1.8 3.5 2.7 3.1 2.5 2.3 2.3 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4 2015A 2016A 2017A 2018A 2019E EBITDA, mEUR EBITDA margin Net Debt/EBITDA ratio Net Debt/Equity ratio
Slide 13: Key Financials: Profitability
Income statement, EUR’000 2018Q4 2019Q4 %, y-o-y Interest and similar income 14 664 16 382 12% Gross profit from sale of goods 1 528 1 800 18% KEY FINANCIALS: Cession result -539 -1 499 178% PROFITABILITY Gross profit 15 652 16 683 7% Selling expense -5 623 -4 939 -12% Administrative expense -2 771
Slide 14: Key Financials: Balance
Balance sheet, EUR’000 2019Q3 2019Q4 %, q-o-q Fixed and intangible assets 774 2 740 254% Loans to related parties 1 216 1 308 8% KEY FINANCIALS: Net loan portfolio 29 474 31 597 7% BALANCE Inventory and scrap 1 231 1 155 -6% Other assets 412 384 -7% Cash 1 296 1 136 -12% The portfolio increase was f
Slide 15: Financing Structure
FINANCING Interest-bearing debt 2019Q3, EUR’000* 2019Q4, EUR’000* Interest rate, % Maturity STRUCTURE Secured bonds - 7 850 14% - 15% 2020/12 -2022/11 Diversified financing structure with established investor Unsecured bonds 7 184 - 14% - 15% 2020/12 -2021/10 demand. Peer-to-peer lending platform Ac
Slide 16: SIA DelfinGroup, Riga, Latvia
SIA DelfinGroup Raunas iela 44 k-1 Riga, Latvia LV-1039 kristaps.bergmanis@delfingroup.lv +371 66 15 50 06