Plenti Group (PLT) H1 2026 earnings summary

Executive summary

• Achieved record profit growth in 1H26, with Cash PBT up 147% to AUD 14.1 million and Cash NPAT up 133% to AUD 12.8 million year-over-year, alongside statutory NPAT of AUD 10.5 million.

• Loan originations reached AUD 912 million, up 46% year-over-year, driving the loan book to AUD 2.8 billion, up 24%, and on track for the AUD 3 billion target by March 2026.

• Delivered consecutive record quarters in loan originations and profitability across automotive, renewables, and personal loans, supported by technology-driven customer experiences.

• Maintained disciplined credit outcomes and improved operational efficiency, with cost-to-net margin improving to 57.1%, down 8% year-over-year.

• Basic EPS increased to 5.92 cents from 0.53 cents year-over-year.

Financial highlights

• Revenue exceeded AUD 150 million for the half, up 20% year-over-year, driven by a 21% increase in the average loan portfolio.

• Net interest margin increased to 5.41% in H1 2026 from 5.33% in H1 and H2 2025.

• Net realized credit losses dropped to 0.94%, down from 1.1% in the prior two years; 90+ day arrears at 39bps, down 10bps year-over-year.

• Operating costs grew 16% year-over-year, while net margin grew 27%, demonstrating strong operating leverage.

• Funded AUD 7.5 million in net equity contributions to warehouses and ABS structures from operating cash flow.

Outlook and guidance

• Confident in achieving FY2026 priorities: AUD 3 billion loan book by March 2026, continued profitability, and cost-to-net margin below 57%.

• Strategy focuses on extracting value from existing verticals and disciplined expansion into new opportunities (Horizon Two and Three).

• Expanded funding capacity post-period with new warehouse facilities and increased trust limits.

• Monitoring market conditions closely, with December performance seen as a key determinant for the current quarter.