Multitude Ag · XETR:MULT
Multitude — H1 2022 Earnings Presentation
19 slides from Multitude's earnings presentation, Aug 18, 2022
Slide 1: H1 2022 Results
H1 2022 Results Earnings Call 18.08.2022 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 H1 2022
MULTITUDE GROUP HIGHLIGHTS H1 2022 – SOLID RESULTS DESPITE CHALLENGING MARKET ENVIRONMENT HIGHLIGHTS H1 2022 FOCUS GOING FORWARD EBIT in EURm** • Stable revenue growth +2.1% y-o-y • Utilize our agile organisation, to scale down fixed 10 and administration expenses 9,5 • Strong lending portfolio grow
Slide 4: SweepBank Highlights H1 2022
SWEEPBANK HIGHLIGHTS H1 2022 – STRONG GROWTH IN H1 AND STRATEGY SHIFT TOWARDS SHORT TERM PROFITABILITY HIGHLIGHTS H1 2022 TARGETS 2023-2024 EBIT in EURm Our target for 2023 is to achieve around -10 EURm Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 • Strong revenue growth (+72.4% y-o-y) • Impressi
Slide 5: Ferratum Highlights H1 2022
FERRATUM HIGHLIGHTS H1 2022 – CONTINUED SOLID PERFORMANCE HIGHLIGHTS H1 2022 TARGETS 2023-2024 EBIT in EURm** Our target for 2023 and 2024 is to achieve 5% higher 25 • Stable revenue and EBIT development based on a well diversified country portfolio EBIT than the previous year 20 15 • Portfolio qual
Slide 6: CapitalBox Highlights H1 2022
CAPITALBOX HIGHLIGHTS H1 2022 – HUGE OPPORTUNITY IN UNDERSERVED SME SEGMENT, TURNAROUND BACK TO FAST GROWTH AND PROFIT HIGHLIGHTS H1 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 challenges from market environmen
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 measurement baseline in progress Carbon emissions reduction plan SweepB
Slide 8: First Half Year Result 2022
FIRST HALF YEAR RESULT 2022 IFRS preliminary unaudited financial results for the 1st half year ended 30 June 2022 8 FE-Classification: General\Anyone
Slide 9: Financial Overview: Moderate y-o-y Growth; Profitable H1'22
FINANCIAL OVERVIEW: MODERATE y-o-y GROWTH; PROFITABLE H1’22 GROWTH IN PORTFOLIO & REVENUE in EURm H1 2022 H1 2021* %/pp change Revenue 107.0 104.8 +2.1% • Revenue increased by EUR 2.2m compared to Impairment on loans to customers (37.8) (32.3) +17.0% H1 2021, despite headwind from market % of revenu
Slide 10: Balance Sheet Structure Supports Continued Portfolio Growth
BALANCE SHEET STRUCTURE SUPPORTS CONTINUED PORTFOLIO GROWTH ASSETS in EURm 30 Jun 2022 31 Dec 2021 % Change in EURm 30 Jun 2022 31 Dec 2021 % Change Non-current assets 64.4 54.1 +19.2% Current to total assets 91.0% 93.4% -2.4pp Loans to customers (net) 477.4 443.9 +7.6% Current to total liabilities
Slide 11: Increased Loan Portfolio in All Tribes
INCREASED LOAN PORTFOLIO IN ALL TRIBES H1 2022 REVENUE AND NET AR in EURm H1 2021 REVENUE AND NET AR in EURm 10,4 11,1 6,1 3,6 82,1 71,0 Ferratum SweepBank 90,5 287,4 61,8 279,9 90,1 CapitalBox 108,0 *Restated to reflect carve-out of discontinued operations Net AR Net AR Revenue Revenue* 11 FE-Class
Slide 12: Segment View – Tribe Performance
SEGMENT VIEW – TRIBE PERFORMANCE in EURm Ferratum SweepBank CapitalBox Group Continuing operations H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 Ferratum: revenue slightly up, credit loss Revenue 90.5 90.1 6.1 3.6 10.4 11.1 107.0 104.8 impairments somewhat increased, continued Shar
Slide 13: Guidance 2022 – EBIT Bridge
GUIDANCE 2022 – EBIT BRIDGE GUIDANCE 2022 • EBIT target is challenging as macro-economic conditions deteriorated • Nonetheless, we confirm our guidance based on actions taken • Subject to assumption that no material macro- economic ECL adjustments will be required KEY ASSUMPTIONS AND INITIATED ACTIO
Slide 14: Enhanced Underwriting Resulting in Strong Asset Quality
ENHANCED UNDERWRITING RESULTING IN 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 8,6% 8,2% 2.2 7,9% − Long-term trend: Continuous 8,0% 7,2% 7,2% 6,9% 6,7% improvement in impairment losses over
Slide 15: 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% 312 63,5% 70% 65,1% 66,9% 63,0% 64,2% 299 302 300 62,3% 63,1% 60% 267 265 50,7% 53,0% 250 238 50% 213 213 35,1% 200 171 40% 159 156 149 150 132 135 134 30% 116 11
Slide 16: Funding Structure and Cost of Debt Capital
FUNDING STRUCTURE AND COST OF DEBT CAPITAL Ferratum Capital Germany FINANCING MIX AT 30 JUN 22 FINANCING MIX AT 31 DEC 21 5.5% + 3-month Euribor 2022 Ferratum Capital Germany EUR 84m 5.5% + 3-month Euribor 2023 EUR 99m EUR 59m EUR 426m EUR 485m Deposits EUR 50m EUR 50m Multitude SE 8.90% + 3-month E
Slide 17: H1 2022 Key Takeaways
H1 2022 KEY TAKEAWAYS • SOLID GROUP RESULTS DESPITE CHALLENGING MARKET ENVIRONMENT • CONFIRMING OUR EBIT GUIDANCE • SWEEPBANK: STRONG GROWTH IN H1 AND STRATEGY SHIFT TOWARDS SHORT TERM PROFITABILITY • FERRATUM: CONTINUED SOLID PERFORMANCE WITH STABLE REVENUE AND EBIT PERFORMANCE • CAPITALBOX: HUGE O
Slide 18: Q&A
Q&A 2021 © MULTITUTE. ALL RIGHTS RESERVED. 18 FE-Classification: General\Anyone
Slide 19: Thank You
THANK YOU [email protected] MULTITUDE SE RATAMESTARINKATU 11 A 00520 HELSINKI FINLAND 2021 © MULTITUTE. ALL RIGHTS RESERVED. 19 FE-Classification: General\Anyone