Updates20 November 20245 minute read

H1FY25 update: Plenti delivers profitable growth

Plenti Group Limited (Plenti) is pleased to provide its results for the six-month period ended 30 September 2024 (1H25).

  • Closing loan portfolio of $2.3 billion, up 14% on pcp
  • Loan originations of $627 million, up 0.4% on pcp
  • Half-year revenue of $124.2 million, up 28% on pcp
  • Strong credit performance, with a 1.11% net loss rate and 90+ days arrears rate of 50bps at period end
  • Cash NPAT of $5.5 million, up 260% on pcp
  • Materially reduced cost-to-income ratio to 24% from 29% in the pcp, further evidencing operating leverage inherent in Plenti’s technology-led business model
  • Launched a successful loan subvention offer with leading EV manufacturer Tesla, leveraging the strong integration capabilities of our proprietary technology platform to deliver the solution in less than three weeks
  • Delivered enhancements to our proprietary technology platform, including improving customer experiences and platform scalability
  • Completed $458 million automotive asset-backed securities (ABS) transaction as well as a $330 million PL & green ABS transaction (post period end), bringing total ABS issuance to over $2.8 billion
  • Progressively released the ‘NAB powered by Plenti’ car and EV loan to NAB’s existing customer base from September 2024, following a successful pilot with NAB’s employees
  • Secured up to $60 million discounted renewable energy funding from the Clean Energy Finance Corporation under its $1 billion Household Energy Upgrades Fund
  • Continued to leverage the GreenConnect platform to support battery uptake in our Renewable energy lending business with 29% of loans in the period including a battery
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