1H24 Trading Update: MONEYME continues to deliver statutory profits

Trading Highlights
Sustainable profits from a robust loan book
• Statutory Net Profit After Tax (NPAT) of $6m for 1H24 ($9m, 1H23; $3m, 2H23), reflecting techdriven cost efficiencies, strong credit performance and effective interest rate management.
• Gross revenue >$105m for 1H24 ($121m, 1H23; $118m, 2H23) reduced in line with our moderated
growth strategy and lift in higher credit quality and secured assets.
• Originations of $277m for 1H24 ($242m, 1H23; $224m, 2H23), reflecting growth in target segments.
• Loan book balance of $1.2bn for 1H24 ($1.2bn, 1H23; $1.1bn, 2H23) with an increased ratio of
secured assets.

Stronger credit profile and performance
• Net loan book losses reduced to 4.6% for 1H24 (6.0%, 1H23; 5.7%, 2H23).
• Ratio of secured assets increased to 48% for 1H24 (41%, 1H23; 44%, 2H23).
• Average Equifax credit score increased to 741 for 1H24 (714, 1H23; 727, 2H23).
• Loans with an Equifax credit score ≥ 600 increased to 86% for 1H24 (81%, 1H23; 83%, 2H23).

Clayton Howes, MONEYME’s Managing Director and CEO said:
“MONEYME delivered a solid first half result with $6m in NPAT, reflecting our technology advantage delivering cost efficiencies, strong credit performance, and effective interest rate management. We increased originations
in the half, maintaining our book balance relatively stable, while continuing the shift to high credit quality assets. 

“The stronger credit profile of the book delivered a net loss rate of 4.6% for 1H24, a further reduction from 2H23 and 1H23. Our loan book now has an average Equifax credit score of 741 and 48% is secured vehicle loans,
both up on the prior periods. The strength of our loan book portfolio has also been recognised by two recent Moody's credit rating upgrades of our term securitisations.

“ MONEYME continues to execute its key strategies, which include extending our technology advantage through product innovation, automation and expanded AI capabilities, as well as cost management and effective
cybersecurity defences. Our current strategy and agility to navigate the macroeconomic environment position us well to deliver increased scale and returns as conditions evolve.”

Download full 1H24 Trading Update here.

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