Plenti Group (PLT) H1 2025 earnings summary

Executive summary

• Achieved a 260% year-over-year increase in Cash NPAT to $5.5 million for 1H25, driven by disciplined growth, loan book expansion, stable margins, and strong operational execution.

• Loan originations totaled $627 million for the half, with the closing loan portfolio up 14% year-over-year to $2.28 billion.

• Launched key partnerships, including the NAB-powered by Plenti auto loan and exclusive finance provider agreements with Tesla and Cadillac.

• Originated over $5 billion in loans since inception, reflecting sustained growth and market presence.

• Secured up to $60 million in discounted renewable energy funding from the Clean Energy Finance Corporation.

Financial highlights

• Revenue for the half reached $124 million, up 28% year-over-year, driven by a 17% increase in average loan portfolio and higher customer rates.

• Interest revenue was $121.9 million, up 27% year-over-year; net interest margin improved to 5.3%.

• Cost-to-income ratio improved to 24.3% from 28.8% year-over-year, supported by technology-led efficiency.

• Net cash from operating activities was $28.7 million, up from $18.0 million year-over-year.

• Net credit loss rate was 1.11% for the half, up from 0.99% year-over-year but down sequentially.

Outlook and guidance

• On track to deliver full-year growth in loan originations, loan portfolio, and Cash NPAT, with a more balanced NPAT profile expected between 1H25 and 2H25.

• Targeting a cost-to-income ratio below 24% and $25 million in efficiencies as the loan portfolio scales toward $3 billion.

• October originations up 26% year-over-year; positive trading momentum continued into 2H25.

• Anticipate moderate auto loan growth via NAB partnership in the near term, with acceleration planned for 2025.