Updates17 November 20214 minute read

H1FY22 update: Plenti delivers outstanding H1, hits $1 billion loan portfolio

Plenti Group Limited (Plenti) is pleased to announce its half-year results for the six months ended 30 September 2021 (1H22), announce significant milestones achieved post half-year end, and announce new financial objectives.

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We've reached a milestone billion-dollar loan book. 

  • Record half-year loan originations of $473 million, up 183% on prior comparable period (PCP)
  • Record loan portfolio at half-year end of $915 million, up 110% on PCP
  • Record half-year revenue of $37 million, up 43% on PCP (interest income up 53%)Cash NPAT of $(2.2) million, a 56% improvement on 2H21
  • Market-leading credit performance, with 0.7% net realised loss rate
  • $306.3 million inaugural asset-backed securities transaction, significantly reducing funding costs 
  • Corporate cash position maintained over the half, despite $300 million loan portfolio growth  
  • Launched commercial auto loan in May, doubling addressable automotive market
  • Materially reduced operating costs per dollar funded, evidencing operating leverage
  • Continued to deliver significant technology and product advancements 
  • Positive monthly Cash NPAT achieved in October
  • $1 billion loan portfolio reached in November
  • Launched specialist EV loan  
  • 2H22 objectives 
    • Closing loan portfolio > $1.25 billion
    • Cash NPAT > $1 million
    • Cost-to-income ratio <50%
  • An ambition to reach $5 billion loan portfolio in calendar 2025  
  • Positive monthly Cash NPAT achieved in October
  • $1 billion loan portfolio reached on 12 November  
  • Growth: a period-end loan portfolio of over $1.25 billion 
  • Profitability: Cash NPAT of over $1.0 million
  • Efficiency: cost-to-income ratio of below 50% (in progress towards medium term target of below 35%)

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Written byTeam Plenti
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