Harmoney (HMY) investor relations material

Executive summary

• Statutory and cash NPAT for the half-year reached $6.1m, surpassing the prior full-year result and growing 202% and 166% year-over-year, respectively, driven by strong loan book growth and efficiency gains.

• Loan book grew 9% year-over-year to $857m, with Australian loans up 17–18% and New Zealand loans up 5% in local currency; Australian portfolio now comprises 61% of the total.

• Automation, AI-driven underwriting, and data-driven lending models underpin strong profitability and operational efficiency.

• Loan originations reached $242.7m, up 27% year-over-year, with strong growth in both new and existing customer segments.

• Return on equity soared to 31%, up from 13% last year.

Financial highlights

• Revenue/interest income rose 12% year-over-year to $71.9m, driven by loan book expansion and higher average interest rates.

• Net interest margin increased to 10.3%, up 130bps year-over-year; risk-adjusted income margin improved to 6.4%, up 110bps.

• Cost-to-income ratio was 18.5%, reflecting strong operating leverage and automation benefits.

• Credit losses were stable at 3.9%, within the 3–4% target range; 90+ day arrears dropped to 0.58%, less than half the market average.

• Net operating income increased 39% to $19.4m; risk-adjusted income rose 33% to $26.8m.

Outlook and guidance

• FY26 cash NPAT guidance upgraded to $13m, a 128% increase year-over-year, with a loan book target of over $900m and 31% ROE.

• Continued focus on accelerating the customer flywheel through AI, new products, and embedded finance partnerships.

• Ongoing investment in automation and technology (Stellare 2.0) is expected to support further scalable growth and efficiency.

• No plans for international expansion beyond Australia and New Zealand in the short to medium term.

• The Group anticipates continued portfolio growth, particularly in Australia, and expects the New Zealand portfolio to benefit from recent technology rollouts.