Humm Group Limited (HUM) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to HUM Group HY24 results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To rejure your question, please press star 1 1 again. To ask your question or comment on the web, please type your question in the box located on the left-hand side of the screen. Please be advised that today's conference is being recorded. I'd now like to hand the conference over to Stuart Grimshaw, Chief Executive Officer of Hum Group. Please go ahead. Good morning, and thank you for joining us today as we release the first half results for financial year 2024. My name is Stuart Grimshaw, and I'm the Chief Executive Officer of Hum Group. Also joining me today is Adrian Fisk, our Chief Financial Officer, and Dave Grevler, our Head of Investor Relations. On slide two, you will see the agenda for today, and Adrian and I will walk you through the slides. Turning to slide four, the first half presented many challenges, which we'll touch upon through this presentation. However, it was pleasing to see the continued strengthening of the balance sheet. We increased our receivables by 23% to $4.7 billion and our gearing ratio stood at a relatively conservative 11.3%. Unrestricted cash also increased to $159 million from $112 million at the same time last year. The balance sheet position was supported by another strong credit performance, with group net loss to average net receivables of 1.68%, down from 1.95% at the same time as last year, highlighted by low loss levels of 0.5% net loss to avera...