CREDIT CORP GROUP LIMITED CREDITCORPGROUP.COM.AU
BUILDING
MOMENTUM
ANNUAL REPORT 2022
INTRODUCTION HIGHLIGHTS ABOUT US OUR BUSINESS CHAIRMAN / CEO REPORT BOARD REVIEW OF OPERATIONS
THIS IS CREDIT CORP
Credit Corp is Australia's largest provider of sustainable financial services in the credit-impaired consumer segment.
We are committed to providing sustainable and responsible financial solutions for our customers, with the goal of improving their financial situation.
Our success and reputation is based on a culture of strong compliance systems and transparency, combined with a respectful and understanding approach to our customers. Our superior analytics capabilities, advanced technology and sustainable approach are key to staying ahead of the market.
MENTUM
OUR TIMELINE
2000 | 2009 | 2011 | 2012 | 2014 | |||||||||||||
1985 | |||||||||||||||||
Credit Corp | Credit Corp is | Credit Corp | Credit Corp | Credit Corp | The Wallet Wizard | ||||||||||||
undertakes the | listed on the ASX on | partners with | launches its | commences | brand is created, | ||||||||||||
first debt sale | 4 September 2000. | Uniting Kildonan. | consumer lending | US operations. | offering the lowest-cost | ||||||||||||
transaction | business. | and most sustainable | |||||||||||||||
in Australia. | option for customers | ||||||||||||||||
in the credit-impaired | |||||||||||||||||
consumer segment. |
CREDIT CORP GROUP ANNUAL REPORT 2022
OUR PEOPLE STORIES SUSTAINABILITY CGS DIRECTORS' REPORT FINANCIAL STATEMENTS OTHER
MOMENTUM
BUILDING MOM
CREDIT CORP HAS BUILT MOMENTUM DESPITE A CHALLENGING AND VOLATILE ENVIRONMENT, AND IS WELL POSITIONED TO REALISE FUTURE OPPORTUNITIES.
We have established a large pipeline of new products and business improvements
to ensure we have the potential to be the market leader across all business segments.
ABOUT THIS REPORT
Credit Corp's Annual Report is our primary statutory and regulatory reporting disclosure. It comprises information about our activities, strategy, and financial results over the reporting period. Credit Corp is publicly listed in Australia, and the Annual Report is lodged with the Australian Securities and Investments Commission and ASX Limited.
View our Annual Reports online
2015 | 2018 | 2019 | 2021 | 2022 | ||||||||||
Credit Corp | Credit Corp achieves | The acquisition of | Launch of Credit Corp's | Credit Corp acquires the | ||||||||||
enters the S&P | 10 years of consecutive | Baycorp increases | first Reconciliation | Radio Rentals appliance | ||||||||||
ASX 200 index. | double digit growth, averaging | Credit Corp's commitment | Action Plan. | leasing business from | ||||||||||
27 per cent per annum, and | to agency operations. | Completion of the | Thorn Group Limited. | |||||||||||
an inaugural profit from its | ||||||||||||||
A second US collection | largest single purchased | |||||||||||||
US debt buying operation. | ||||||||||||||
centre opens in | debt ledger transaction | |||||||||||||
Washington State. | in Australian history with | |||||||||||||
the acquisition of the | ||||||||||||||
Collection House book. |
1
INTRODUCTION HIGHLIGHTS ABOUT US OUR BUSINESS CHAIRMAN / CEO REPORT BOARD REVIEW OF OPERATIONS
FINANCIAL
HIGHLIGHTS
2022
HIGHLIGHTS
Our leadership has delivered a consistent record of success and the resilience to respond to changing external conditions.
NET PROFIT AFTER TAX
$96.2M1
9% VS. PCP
REVENUE
$411.2M
10% VS. PCP
1. Statutory NPAT of $100.7 million and EPS of 148.9 cents includes $4.5 million US Paycheck Protection Program loan forgiveness.
$420.6M
PRE-TAX OPERATING
CASH FLOW
2% VS. PCP
$835.7M
INCOME GENERATING ASSETS
39% VS. PCP
142.2¢1
EARNINGS PER SHARE (EPS)
9% VS. PCP
74.0¢
DIVIDENDS PER SHARE (DPS)
3% VS. PCP
2 CREDIT CORP GROUP ANNUAL REPORT 2022
OUR PEOPLE STORIES SUSTAINABILITY CGS DIRECTORS' REPORT FINANCIAL STATEMENTS OTHER
MOMENTUM
OUR PEOPLE | CUSTOMERS |
COMMUNITY
The diversity of our people is key to our success
1,840
EMPLOYEES
across the globe
Our relationships are built on respect and collaboration
Maintained
lowest
EDR COMPLAINT RATE
in Australian industry
We aim to provide a pathway
to mainstream financial inclusion
1,338
SUPPLIERS PAID
within 30 days or agreed arrangements
58,910 | 3.1M |
HOURStraining delivered | CUSTOMERSglobally |
91% | $1.71B |
LEADERSHIP | IN FACE VALUE |
positions filled internally | of debts in ongoing |
repayment arrangements |
CONSUMER HARDSHIP
highest
rated response by the financial counsellors in Rank the Banks survey (Dec 2019)
7TH YEAR
granting a scholarship through the Jan Pentland foundation
59% | $11.65B | 1,000 KG | ||||||||||||||
WOMEN IN | IN FACE VALUE | OF E-WASTE RECYCLED | ||||||||||||||
operational managerial roles | of receivables globally | from our Australian offices | ||||||||||||||
REVENUE $M | 411.2 | NPAT $M | ||||||||||||||
96.2 | ||||||||||||||||
382.0 | 374.8 | 88.1 | ||||||||||||||
299.0 | 324.3 | 79.6 | ||||||||||||||
70.3 | ||||||||||||||||
266.0 | 313.4 | 64.3 | ||||||||||||||
226.7 | 55.2 | |||||||||||||||
191.1 | 45.9 | |||||||||||||||
38.4 | ||||||||||||||||
15.5 | ||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 1 | |
REVENUE | REVENUE IMPACT OF COVID19 ADJUSTMENTS | NPAT | NPAT IMPACT OF COVID19 ADJUSTMENTS | |||||||||||||
PRETAX OPERATING | INCOME GENERATING | |||||||||||||||
CASH FLOW $M | ASSETS $M | 835.7 | ||||||||||||||
394.7 | 413.5 | 420.6 | ||||||||||||||
586.5 | 559.9 | 602.5 | ||||||||||||||
330.7 | ||||||||||||||||
513.0 | ||||||||||||||||
305.0 | ||||||||||||||||
469.2 | ||||||||||||||||
274.1 | ||||||||||||||||
215.6 | 242.4 | 363.7 |
244.3 |
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
1. Excludes US Paycheck Protection Program receipt of an after-tax $4.5 million. | 3 |
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Disclaimer
Credit Corp Group Limited published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 11:11:05 UTC.
