Slide 1: FY22 Results
FY22 Results CEO Daniel Riley COO James Beeson CFO Steven Shin
Slide 2: Earlypay provides secured finance to SME businesses
Employing ~90 people in Brisbane, Sydney and Melbourne, Earlypay provides secured finance to SME businesses Servicing 3,000+ SMEs 0.1%+ of total SMEs $10bn+ invoices funded since 2015 Equipment Finance Book $133m $2.4bn+ in FY22, up 29% on pcp Loan book up 40% on pcp Improving operating leverage Lon
Slide 3: Earlypay continues its strong growth trajectory post COVID
Earlypay continues it’s strong growth trajectory post COVID Earlypay has generated record earnings at all levels; NPBTA ($m) FY16 – FY22 CAGR 50% NPBTA - NPBTA $16.8m, up 42% on last year Impacted - NPATA $14.7m, up 69% on last year by COVID 16.8 Outlook 13.1 - Top line growth through seasonally wea
Slide 4: Earlypay continues its strong growth trajectory post COVID
Earlypay continues it’s strong growth trajectory post COVID Earlypay has generated record earnings at all levels; EPS (cps) FY16 – FY22 CAGR 32% - EPS 5.3cps, up 37% on last year - Dividend policy is 60% of NPATA, facilitating a Final Impacted Dividend of 1.8cps, by COVID - Full year dividends of 3.
Slide 5: FY22 Results
earlypay~ FY22 Results
Slide 6: FY22 NPATA of $14.7m, up 23% pcp
FY22 NPATA of $14.7m, up 23% pcp $53.8m $27.3m $14.7m REVENUE EBITDA NPATA1 ↑23% pcp ↑30% pcp ↑69% pcp 27.4% 5.27c 3.2c NPATA MARGIN EPS2 DPS (fully franked) vs 19.8% pcp ↑37.1% pcp ↑39% pcp 1. After adjusting for non-cash amortization 2. Based on NPATA 6
Slide 7: Earlypay continues to grow revenue and earnings off the bigger loan book
Earlypay continues to grow revenue and earnings off the back of the bigger loan book $m FY211 FY22 Δ pcp Revenue (excl Jobkeeper) and EBITDA increased by 26% and Revenue 42.7 53.8 26% 30% respectively on pcp, driven by organic growth in the core Other Revenue (JobKeeper) 1.2 - Invoice Finance produc
Slide 8: Robust balance sheet with NTA of $0.19 at 30 June 2022
Earlypay has a robust balance sheet with Net Tangible Asset (NTA) position of $0.19 cps at 30 June 2022 $m FY21 FY22 Δ pcp Strong cash position to support continued organic growth as Cash and cash equivalents 44.8 52.7 18% well as acquisition opportunities Receivables - Debtor Finance 199.7 270.5 35
Slide 9: Positive net operating cash flow of $12.7m for FY22
Earlypay generated positive net operating cash flow of $12.7m for FY22 $m FY21 FY22 Receipts reflects administration and service fees charged to Receipts 27.7 28.8 clients Interest received from customer 21.3 27.2 Payments (33.3) (30.2) Interest is received on funds drawn by Invoice and Trade Intere
Slide 10: Material uplift in volumes supported by lower cost of funding
Material uplift in volumes was supported by lower cost of funding $m FY21 FY22 Δ pcp TTV Margin = Revenue Key Metrics TTV ($m) 1,864 2,415.2 30% Material growth in TTV of 30% achieved organically Margin % 1.52% 1.55% 2% Revenue 28.3 37.4 32% Continued TTV growth through seasonally weaker H2 Other Re
Slide 11: Equipment Finance growth resumed in FY22
Growth resumed in FY22, supported by product simplification and cross-sell with the core Invoice Finance product $m FY21 FY22 Δ pcp Earlypay resumed growth in Equipment finance, with origination Key Metrics volume of $101m for the period Revenue 14.0 15.6 11% Growth was achieved through development
Slide 12: Diverse funding to support growth across all products
Earlypay has diverse funding to support growth across all products Increase in existing Invoice Finance warehouse facility in Facility Size Cost Comments Mar’22 to accommodate loan book growth Invoice Finance Sub-3% + Invoice Finance facility, increased A new warehouse facility commenced Dec’21 to s
Slide 13: Earlypay commences FY23 on an enhanced run-rate
Earlypay commences FY’23 on an enhanced run-rate and with continued growth momentum FY’23 run-rate Invoice Finance TTV in Jul’22 was $240m (Jul’21: $183m), indicating an annual run rate commencing FY23 exceeding $2.8B (FY22: $2.4B). This commencing run rate is already up 17% on FY22 TTV, before fact
Slide 14: Business trading conditions
Earlypay commences FY’23 on an enhanced run-rate and with continued growth momentum Business trading conditions All lending at Earlypay is secured and asset backed. Invoice and Trade Finance is provided on modest LVR and is short-term in nature. Earlypay has a long history of supporting SME’s in all
Slide 15: Important notice and disclaimer
This presentation (”this Presentation”) has been prepared by Earlypay Limited [ACN 098 952 277] (“EPY” or the “Company”) and is dated 25th August 2022. Summary information This presentation contains summary information about the current activities of EPY as at the date of this Presentation. The info