Plenti Group (PLT) H2 2025 earnings summary

Executive summary

• Cash NPAT rose 126% year-over-year to $13.8 million, with statutory profit at $24.7–$24.8 million, including an $18.4 million non-recurring tax benefit, and underlying statutory profit at $6.4 million.

• Loan originations reached $1.4 billion, up 18% year-over-year, with the closing loan portfolio up 19% to $2.5 billion.

• Revenue increased 23% year-over-year to $259 million, driven by growth across automotive, renewable energy, and personal lending.

• Cost-to-income ratio improved to 23.9% from 26.5%, reflecting operational leverage and technology enhancements.

• CEO transition completed, with Adam Bennett taking over and a refreshed corporate strategy focused on disciplined, profitable growth.

Financial highlights

• Net interest margin expanded to 5.31%, up 14bps year-over-year, with an exit rate of 6.1% in April-May before normalizing to 5.8%.

• Net credit loss rate was stable at 1.10% (FY24: 1.06%), and 90+ day arrears declined to 0.43% from 0.58%.

• Operating costs rose 11% to $62 million, while margin dollars grew at 2.1 times the rate of operating costs.

• Underlying free operating cashflow was ~$12.5 million, reinvested into funding facilities to support growth.

• All technology spend ($14.1 million) expensed, with zero capitalized technology on the balance sheet.

Outlook and guidance

• Targeting a $3 billion loan book by March 2026, with a medium-term aspiration of $5 billion.

• Committed to delivering $25 million in cost efficiencies as the portfolio scales.

• Operating cost base targeted at ~$69 million or less for FY26.

• Strategy includes deepening relationships, leveraging data and AI, and investing in proprietary technology.

• Expecting continued strong origination momentum and positive impacts from refreshed corporate strategy.