Pt Bfi Finance Indonesia Tbk · IDX:BFIN
Pt Bfi Finance Indonesia Tbk — Q1 2024 Earnings Presentation
12 slides from Pt Bfi Finance Indonesia Tbk's earnings presentation, Apr 26, 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION PT BFI FINANCE INDONESIA TBK 26 April 2024
Slide 2: Key Financial Highlights
Key Financial Highlights Sustainable and Resilient Recovery in Operations • QoQ Bookings up by 3.4% to Rp4,783 billion, and decrease of 24.3% YoY. Slower growth due to concerns of challenging market conditions Growth • Total Managed Receivables continues to increase by 2.3% QoQ and flat YoY, at Rp22
Slide 3: Balance Sheet Highlights
Balance Sheet Highlights Three Consecutive Quarters of Steady Bookings Growth In Rp bil * 1Q24 1Q23 YoY ∆ Comments 1Q24 4Q23 QoQ ∆ (unless otherwise stated) Steady quarterly bookings growth in New Bookings** 4,783 6,317 24.3% 4,783 4,626 3.4% line with operational recovery YoY receivables recove
Slide 4: Balance Sheet Highlights
Balance Sheet Highlights Internal Tightening Policy Resulting in Slower Pace of Quarterly Bookings Quarterly Bookings (excl Pinjam Modal) Trend (2020-1Q24) 6,354 6,317 5,198 4,626 4,783 4,425 4,043 4,104 3,983 4,155 3,895 3,137 3,196 2,921 2,166 1,333 57 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22
Slide 5: Product Breakdown
Product Breakdown Shift in Portfolio Composition to Higher Value Collateral due to Risk Mitigation Breakdown of Bookings (excl Pinjam Modal) Breakdown of Receivables (incl Pinjam Modal) 1Q23 vs 1Q24 1Q23 vs 1Q24 2% 3% 1% 1% 2% 3% 2% 3% 11% 4% 5% 12% 13% 15% 18% 12% 13% 7% 56% 54% 58% 56% 11% 11% 7%
Slide 6: Profit & Loss Highlights
Profit & Loss Highlights Profitability Impacted by Higher Cost of Credit In Rp bil * 1Q24 1Q23 YoY ∆ Comments 1Q24 4Q23 QoQ ∆ (unless otherwise stated) Interest Income 1,066 1,101 3.1% Due to lower receivables balance 1,066 1,068 0.2% Higher bank loans to support Financing Cost 230 213 8.1% 23
Slide 7: Key Ratios
Key Ratios NPF Gradually Showing Improvement since 2Q23 In Rp bil * 1Q24 1Q23 YoY ∆ Comments 1Q24 4Q23 QoQ ∆ (unless otherwise stated) Portfolio yield compression Net Interest Spread 12.1% 13.6% 153 bps 12.1% 12.3% 25 bps due to portfolio shift for risk considerations Cost to Income 48.0% 42.1%
Slide 8: Superior Balance Sheet Quality
Superior Balance Sheet Quality NPF Improves due to Strict and Rigorous Collections Monitoring & Origination policy NPF Trend Write-Off Trend 2020-1Q24 2020-1Q24 4.5% 4.5% 4.1% 4.0% 4.0% 4.0% 3.9% 3.8% 3.5% 3.5% 3.0% 3.0% 3.0% 3.0% 2.5% 2.5% 2.8% 1.8% 2.0% 2.0% 2.3% 1.70% 1.36% 1.5% 1.25% 1.24% 1.5%
Slide 9: Strong Capital Base
Strong Capital Base Funding Sources are Well-Diversified, with High Equity Levels Resulting in Low Leverage Source of Funding External Funding Sources 2020-1Q24 1Q24 JF 4% 8,756 9,500 9,822 6,606 7,429 Borrowings IDR 45% 494 Bonds 103 536 258 1,581 29% 45 4,106 4,721 2,979 2,487 10,247 Borrowings US
Slide 10: Historical Financials
Historical Financials Proven Track Record with Ability to Withstand Economic Cycles Bookings vs Receivables (Rp bil) 2020-1Q24 20,081 19,081 • Maintains YoY growth momentum in spite of 13,149 blip in bookings in 3Q23 7,599 6,317 4,783 13,947 14,571 20,498 22,012 22,526 22,513 2020 2021 2022 2023 1Q2
Slide 11: Historical Financials
Historical Financials Proven Track Record – Consistently Outperforming the Industry PAT (Rp bil) Track Record ROA vs Industry ROE vs Industry 2020-1Q24 2020-1Q24 2020-1Q24 1,807 21.9% 12.2% 1,644 17.7% 16.2% 8.4% 15.0% 14.9% 1,131 14.4% 7.5% 9.6% 5.6% 11.2% 5.7% 11.4% 702 5.0% 4.5% 361 5.3% 2.0% 202
Slide 12: Distribution Network
Distribution Network Multichannel Selling Strategy with Extensive Branch and Non-Branch Touchpoints Across the Archipelago Over Active Agents & 18,000 270 Outlets* Sumatera 11% Kalimantan 18% 40 outlets 25 outlets Sulawesi and East 21% 48 outlets Java & 50% Bali 112 outlets * Consists of 194 branche
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