Thorney Opportunities Ltd. · ASX:TOP
Thorney Opportunities — Shareholder Meeting (November 2017)
15 slides from Thorney Opportunities's shareholder meeting presentation, Nov 24, 2017
Slide 1: Thorney Opportunities Ltd AGM
For personal use only THORNEY OPPORTUNITIES LTD AGM 24 November 2017 Scott Baldwin Managing Director
Slide 2: About Money3
About Money3 For personal use only Money3 is a national credit provider committed to servicing the needs of customers who cannot access funding from traditional lenders 2 THORNEY OPPORTUNITIES LTD AGM
Slide 3: The Money3 Journey
The Money3 Journey For personal use only FY07 30 September 2017 Unsecured Auto Loans • Approx. $10m unsecured loan book in first year on ASX to $277m loan book dominated by secured automotive receivables • Revenues growth from $7m to $109m • NPAT growth from $1m to $29m • A 10 year overnight success
Slide 4: Continued Growth in Auto Lending
Continued Growth in Auto Lending For personal use only Gross Loan Book $m 300.0 Q1 FY18 250.0 200.0 213.9 223.1 150.0 188.0 127.4 151.8 100.0 106.8 78.8 50.0 23.6 21.1 24.1 23.7 22.4 23.0 18.3 26.6 33.6 28.7 33.0 35.6 30.3 25.0 0.0 H1 FY15 H2 FY15 H1 FY16 H2 FY16 H1 FY17 H2 FY17 Q1 FY18 Small Amount
Slide 5: Continued Growth in Secured Loans Settled
Continued Growth in Secured Loans Settled For personal use only Secured Loans Settled per Financial Year 16000 14000 12000 10000 8000 6000 4000 2000 0 FY13 FY14 FY15 FY16 FY17 5 THORNEY OPPORTUNITIES LTD AGM
Slide 6: Distribution of Auto Lending
Distribution of Auto Lending For personal use only Money3 estimates a market share of 2% of the addressable market. 6 THORNEY OPPORTUNITIES LTD AGM
Slide 7: Financial Performance
Financial Performance For personal use only Revenue v NPAT $'M's 120 35 30 100 25 80 20 60 15 40 10 20 5 0 0 FY12 FY13 FY14 FY15 FY16 FY17 Revenue NPAT 7 THORNEY OPPORTUNITIES LTD AGM
Slide 8: Key Highlights FY17
Key Highlights FY17 For personal use only Group Performance Secured Automotive lending Significant EBITDA margin improvement from Demand for secured automotive loans continues FY16, 36.5% to FY17, 46.1% with 40.9% growth in loan book to gross loans of $213.9m Gross loan book increased 37.4% to
Slide 9: Outlook
Outlook For personal use only Money3 estimates the addressable used car market in Australia is approx. 700,000 + vehicle sales per annum with Money3 writing 14,000 + automotive loans in FY17, which represents about 2% of the addressable market There is significant scope for Money3 to grow its ma
Slide 10: Additional Information Financial Metrics
Additional Information Financial Metrics For personal use only 10 THORNEY OPPORTUNITIES LTD AGM
Slide 11: Financial Performance
Financial Performance For personal use only FY17 FY16 $ Change % Change $m $m $m Revenue 109.6 96.7 + 12.9 13.3% Expenses 59.0 61.4 - 2.4 3.9% EBITDA 50.6 35.3 + 15.3 43.3% EBITDA as % of revenue 46.1% 36.5% NPAT 29.1 20.1 + 9.0 44.8% NPAT as % of revenue 26.6% 20.8% EPS (Basic) 18.81 cps 14.21 cps
Slide 12: Cashflow
Cashflow For personal use only FY17 FY16 $ Change % Change $m $m $m Receipts from customers1 307.4 282.6 + 24.8 + 9% Payments to suppliers & employees - 39.3 - 42.1 + 2.8 - 7% Net interest and finance expense - 6.3 - 3.5 - 2.8 + 80% Income tax paid - 15.7 - 9.9 - 5.8 + 59% Cashflow from operating ac
Slide 13: Balance Sheet
Balance Sheet For personal use only FY17 FY16 FY15 $m $m $m Cash and Cash Equivalents 21.1 27.2 12.4 Loans and Other Receivables (Net) 225.1 164.4 130.3 Other Assets 9.3 7.1 6.2 Intangible Assets 19.2 19.7 19.4 Total Assets 274.7 218.4 168.3 Borrowings 79.5 48.6 35.2 Other Liabilities 13.1 13.3 10.4
Slide 14: Disclaimer
Disclaimer For personal use only The content of this presentation has been prepared by Money3 Corporation Limited (the Company) for general information purposes only. Any recommendations given are general and do not take into account your personal circumstances and therefore are not to be taken as a
Slide 15: Money3 Corporation Ltd Enquiries
Money3 Corporation Ltd For personal use only Enquiries to: Ray Malone Chairman e. r.malone@money3.com.au Scott Baldwin Managing Director e. s.baldwin@money3.com.au Brett Coventry Chief Financial Officer e. b.coventry@money3.com.au Head Office Level 1 / 40 Graduate Road, Bundoora, 3083 p. 03 9093 825
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