Credit Corp Group (CCP) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and confirmation of quorum.

• Board and executive team introduced, including new director Sarah Brennan.

• Agenda included Chair's address, CEO update, formal business, Q&A, and voting instructions.

• Managing Director and CEO Thomas Beregi presented the FY2025 performance update, focusing on creating opportunity and growth.

Financial performance review

• Net profit after tax fell 44% to AUD 50.7 million due to U.S. consumer challenges.

• US collections increased by 12% year-on-year, with a strong investment pipeline of $106 million.

• Lending business achieved record volume, with loan book up 24% to AUD 445 million.

• Combined AU/NZ/US portfolio face value reached $13.0b as of Sep 2024.

• Productivity per hour rose to $324 in FY25 from $291 in FY24.

Board and executive committee updates

• Board renewal process ongoing; average non-executive director tenure now under three years.

• Chair Eric Dodd to step down at 2025 AGM for orderly transition.

• New director Sarah Brennan joined, bringing extensive financial services experience.