Multitude Ag · XETR:MULT
Multitude — 9M 2022 Earnings Presentation
18 slides from Multitude's earnings presentation, Nov 17, 2022
Slide 1: 9M 2022 Results
9M 2022 Results Earnings Call 17.11.2022 1 FE-Classification: General\Anyone
Slide 2: Important notice
Important notice This presentation contains, or may be deemed to contain, forward-looking statements. All forward-looking statements included herein are based on information These statements relate to future events or future financial performance of Multitude. presently available to Multitude and, a
Slide 3: Multitude Group Highlights 9M 2022
MULTITUDE GROUP HIGHLIGHTS 9M 2022 – STABLE GROWTH CONTINUES WITH UPWARD TREND IN EBIT HIGHLIGHTS 9M 2022 LOOKING AHEAD EBIT in EURm* • Stable revenue growth +2.3% y-o-y • We confirm our EBIT guidance of EUR 30m 10 • Lending portfolio growth improving over several for 2022, subject to assumption tha
Slide 4: SweepBank Highlights 9M 2022
SWEEPBANK HIGHLIGHTS 9M 2022 – GROWTH CONTINUES WITH SHIFT TOWARDS SHORT TERM PROFITABILITY HIGHLIGHTS 9M 2022 TARGETS 2023-2024 EBIT in EURm • Strong revenue growth (+67.2% y-o-y) Our target for 2023 is to achieve around -10 EURm Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 • Solid lending portf
Slide 5: Ferratum Highlights 9M 2022
FERRATUM HIGHLIGHTS 9M 2022 – SOLID PERFORMANCE CONTINUES HIGHLIGHTS 9M 2022 TARGETS 2023-2024 EBIT in EURm** • Stable revenue and EBIT development continues Our target for 2023 and 2024 is to achieve 5% higher 20 • Portfolio quality remains robust EBIT than the previous year 15 • Implementation of
Slide 6: CapitalBox Highlights 9M 2022
CAPITALBOX HIGHLIGHTS 9M 2022 – TURNAROUND BACK TO GROWTH AND PROFIT IN PROGRESS HIGHLIGHTS 9M 2022 TARGETS 2023-2024 EBIT in EURm • Revenue and EBIT below our expectations Our target for 2023 is to achieve 5 EURm EBIT driven by internal performance during H1 2022 and in 2024 to achieve 10 EURm EBIT
Slide 7: Building a Sustainable Growth Platform – Progress Towards ESG Goals
BUILDING A SUSTAINABLE GROWTH PLATFORM – PROGRESS TOWARDS ESG GOALS 2025 GOALS 2025 TARGETS PROGRESS E Understand and reduce the Group environmental footprint Set and meet emissions targets for 2025 Scope 2 and Scope 3 emissions baseline data under review and Carbon emissions reduction plan incorpor
Slide 8: 9 Months Results 2022
9 MONTHS RESULTS 2022 IFRS preliminary unaudited financial results for the 9 months ended 30 September 2022 8 FE-Classification: General\Anyone
Slide 9: Financial Overview: Moderate y-o-y Growth with Upwards Trend in EBIT
FINANCIAL OVERVIEW: MODERATE y-o-y GROWTH WITH UPWARDS TREND IN EBIT IMPROVING OPERATIONAL AND FINANCIAL in EURm 9M 2022* 9M 2021** %/pp change PERFORMANCE: Revenue 162.8 159.1 2.3% Impairment on loans to customers (57.9) (49.9) 16.0% • Revenue increased by EUR 3.7m compared to % of revenue -35.6% -
Slide 10: Balance Sheet Structure Supports Continued Portfolio Growth
BALANCE SHEET STRUCTURE SUPPORTS CONTINUED PORTFOLIO GROWTH ASSETS in EURm 30 Sep 2022 31 Dec 2021 % Change in EURm 30 Sep 2022 31 Dec 2021 % Change Non-current assets 62.9 54.1 +16.3% Current to total assets 91.5% 93.4% -1.9pp Loans to customers (net) 484.7 443.9 +9.2% Current to total liabilities
Slide 11: Increased Loan Portfolio in All Tribes
INCREASED LOAN PORTFOLIO IN ALL TRIBES 9M 2022 REVENUE AND NET AR in EURm 9M 2021 REVENUE AND NET AR in EURm 15.1 16.9 10.2 6.1 82.4 71.2 Ferratum SweepBank 286.1 137.5 280.6 136.1 CapitalBox 76.6 116.2 *Restated to reflect carve-out of discontinued operations Net AR Net AR Revenue Revenue* 11 FE-Cl
Slide 12: Segment View – Tribe Performance
SEGMENT VIEW – TRIBE PERFORMANCE in EURm Ferratum SweepBank CapitalBox Group Continuing operations 9M 2022 9M 2021 9M 2022 9M 2021 9M 2022 9M 2021 9M 2022 9M 2021 Ferratum: Revenue * 137.5 136.1 10.2 6.1 15.1 16.9 162.8 159.1 revenue slightly up, credit loss impairments Share in revenue, in % 84.5%
Slide 13: Improving Underwriting Resulting in Constantly Strong Asset Quality
IMPROVING UNDERWRITING RESULTING IN CONSTANTLY STRONG ASSET QUALITY IMPAIRMENT LOSSES (TOTAL) / NAR BALANCED GROWTH STRATEGY 12.0% 2018 2019 2020 2021 2022 DRIVES ASSET QUALITY 9.7% 10.0% IMPROVEMENTS 8.2% 2.2 7.9% − Long-term trend: Continuous 8.0% 7.2% 7.2% 6.9% 6.7% improvement in impairment loss
Slide 14: Solid Cash Base
SOLID CASH BASE Cash to Deposits in % Cash in EURm 500 100% 90.6% 450 90% 86.2% 82.9% 400 382 80% 75.6% 73.5% 70.1% 70.1% 66.8% 350 69.9% 65.1% 312 63.5% 70% 66.9% 63.0% 64.2% 299 302 300 62.3% 63.1% 60% 267 265 50.7% 53.0% 238 250 50% 213 213 35.1% 200 33.6% 40% 171 152 159 156 149 150 132 135 134
Slide 15: Funding Structure and Cost of Debt Capital
FUNDING STRUCTURE AND COST OF DEBT CAPITAL Ferratum Capital Germany FINANCING MIX AT 30 SEPT 22 FINANCING MIX AT 31 DEC 21 5.5% + 3-month Euribor 2022 Ferratum Capital Germany 5.5% + 3-month Euribor 2023 EUR 3.1m EUR 84m EUR 97m Deposits EUR 59m EUR 452m EUR 485m Multitude SE EUR 50m EUR 50m 8.90% +
Slide 16: 9M 2022 Key Takeaways
9M 2022 KEY TAKEAWAYS • STABLE GROWTH WITH UPWARD TREND IN EBIT • CONFIRMING OUR EBIT GUIDANCE • SWEEPBANK: STRONG GROWTH CONTINUES, BUT STRATEGY SHIFTED TOWARDS PROFITABLE GROWTH • FERRATUM: SOLID PERFORMANCE CONTINUES • CAPITALBOX: TURNAROUND BACK TO GROWTH AND PROFIT IN PROGRESS • REFINANCING OF
Slide 17: Q&A
Q&A 2021 © MULTITUTE. ALL RIGHTS RESERVED. 17 FE-Classification: General\Anyone
Slide 18: Thank You
THANK YOU [email protected] MULTITUDE SE RATAMESTARINKATU 11 A 00520 HELSINKI FINLAND 2021 © MULTITUTE. ALL RIGHTS RESERVED. 18 FE-Classification: General\Anyone