Half Yearly Report and Accounts

For personal use only

Appendix 4D

For the half year ended 30 September 2021

OFX Group Limited

ABN 12 165 602 273

Results for announcement to the market

For the half year ended 30 September 2021 ("reporting period")

		30 September	% Change	30 September
		2021	from 6 months	2020
			ended	(previous
			30 September	corresponding
			2020	period)
		A$'000	%	A$'000
Revenue from ordinary activities	Up	74,267	20%	61,807
Net profit for the period attributable to members of
parent (before non-controlling interest)	Up	10,895	280%	2,868

Statutory net profit after tax for the half year was $10.9 million, up 280% from $2.9 million in the prior corresponding period.

Dividend information	Amount per	Franked	Tax rate for
	share	amount per	franking credit
	(cents)	share (cents)
2021 interim dividend (paid 11 December 2020)	0.81	0.00	N/A
2021 final dividend	0.00	N/A	N/A
2022 interim dividend	0.00	N/A	N/A

Share buy back

On 18 May 2021, the Company announced an on-market share buyback program instead of a dividend in the near term. The on-market share buyback program will be up to 10% of the Company's fully paid ordinary shares and commenced on 7 June 2021. A total of 1,912,000 ordinary shares were bought back and subsequently cancelled in the current period. The total amount paid for the buyback was $2.65 million.

	30 September	30 September
	2021	2020
	(cents)	(cents)
Net tangible asset backing per ordinary security1	29.76	23.46

Additional Appendix 4D disclosure requirements can be found in the notes to the Interim Financial Report and the Directors' Report for the half year ended 30 September 2021. Refer to Note 6 to the Interim Financial Report for details on investment in joint ventures. Information should be read in conjunction with OFX Group Limited's 2021 Annual Report and the attached Interim Financial Report.

This report is based on the consolidated Interim Financial Report for the half year ended 30 September 2021 which has been reviewed by KPMG with the Independent Auditor's Review Report included in the Interim Report.

• Assumes that 242,442,234 ordinary shares on issue at 30 September 2021 and 243,872,167 were on issue at 30 September 2020.

OFX Group Limited - Appendix 4D

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For personal use only

For personal use only

OFX Group Limited

ABN 12 165 602 273

Interim Financial Report

Half Year Ended 30 September 2021

The Company's registered office is: Level 19

60 Margaret Street

Sydney NSW 2000 Australia

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OFX Group Limited

For personal use only

Directors' Report .........................................................................................................................................	3
Auditor's Independence Declaration.........................................................................................................	7
Consolidated Statement of Comprehensive Income ...............................................................................	8
Consolidated Statement of Financial Position .........................................................................................	9
Consolidated Statement of Changes in Equity ......................................................................................	10
Consolidated Statement of Cash Flows..................................................................................................	11
Note 1.	Basis of preparation.................................................................................................................	12
Note 2.	Segment information ...............................................................................................................	13
Note 3.	Other expenses .......................................................................................................................	15
Note 4.	Income tax expense ................................................................................................................	15
Note 5.	Fair values of assets and liabilities ..........................................................................................	16
Note 6.	Equity-accounted investees.....................................................................................................	16
Note 7.	Share capital............................................................................................................................	17
Note 8.	Dividends paid or provided for.................................................................................................	17
Note 9.	Events occurring after balance sheet date ..............................................................................	17
Directors' Declaration ...............................................................................................................................	18
Independent auditor's review report to the members of OFX Group Limited.....................................	19
Corporate Information...............................................................................................................................	21

OFX Group Limited - Interim Report

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For personal use only

OFX Group Limited

Directors' Report

The Directors present their report together with the financial statements of the consolidated entity (the "Group"), being OFX Group Limited (the "Company") and its controlled entities, for the half year ended 30 September 2021 and the Independent Auditor's Review Report thereon.

Directors

The names of the Directors of the Group in office during the half year and up to the date of this report unless otherwise stated are as follows:

Steven Sargent	Chairman
John Alexander ('Skander') Malcolm	Chief Executive Officer and Managing Director
Connie Carnabuci	Non-Executive Director
Douglas Snedden	Non-Executive Director
Grant Murdoch	Non-Executive Director
Cathy Kovacs	Non-Executive Director

Principal activities

The Group's principal activity during the half year was the provision of international payments and foreign exchange services.

Dividend and distributions

There were no dividends paid or determined by the Company during and since the end of the half year. Refer to Note 7 to the Financial Statements.

Operating and financial review

A summary of financial results for the half year ended 30 September 2021 is below. The Group's statutory financial information for the half year ended 30 September 2021 and for the comparative periods ended 31 March 2021 and 30 September 2020 present the Group's performance in compliance with statutory reporting obligations.

To assist shareholders and other stakeholders in their understanding of the Group's financial information, additional underlying financial information for the period ended 30 September 2021 and for the comparative periods ended 31 March 2021 and 30 September 2020 are provided in the Operating and Financial Review section of this Report. A reconciliation of the Company's statutory and underlying financial information is included on page 4. The reconciliation and the underlying information have not been audited.

Statutory results	Half year	Half year	Half year
	30 September	31 March	30 September
	2021	2021	2020
	$'000	$'000	$'000
Net operating income1	68,630	64,002	53,928
EBITDA2	20,066	19,120	10,313
EBITDA margin	29.2%	29.9%	19.1%
Net profit (after tax)	10,895	9,913	2,868
Earnings per share (basic) (cents)	4.47	4.07	1.18

• Net operating income, a non-IFRS measure, is the combination of 'Fee and trading income' and 'Fee and commission expense' and 'Interest income'.

• Earnings before interest expense, taxation, depreciation and amortisation (EBITDA) is a non-IFRS, unaudited measure.

OFX Group Limited - Interim Report

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