CREDIT CORP GROUP LIMITED CREATING OPPORTUNITY
CREDIT CORP ANNUAL REPORT 2023
CREDIT CORP ANNUAL REPORT 2023 | HIGHLIGHTS | ABOUT US | OUR BUSINESS | CHAIR'S REPORT | CEO'S REPORT | REVIEW OF OPERATIONS |
This is Credit Corp
Credit Corp is Australia's largest provider of responsible financial services in the credit-impaired consumer segment. We are committed to providing genuine and affordable 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 and transparency, combined with a respectful
and understanding approach to our customers. Our superior analytics capabilities, advanced technology and responsible approach are key to staying ahead of the market.
CREATING OPPORTU
Creating opportunity is the basis of our approach to generating long-term value. It is about a relentless focus on providing customers with opportunities to resolve existing credit obligations and gain access to uniquely affordable personal finance.
We have established a 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 REPORTS ONLINE
BOARD | OUR PEOPLE | STORIES | SUSTAINABILITY | CGS | DIRECTORS' REPORT | REMUNERATION REPORT | FINANCIAL STATEMENTS | OTHER |
01 | INTRODUCTION | 20 | STORIES |
02 | HIGHLIGHTS | 22 | SUSTAINABILITY |
04 | ABOUT US | 42 | CORPORATE GOVERNANCE STATEMENT |
06 | OUR BUSINESS | 55 | DIRECTORS' REPORT |
08 | CHAIR'S REPORT | 58 | REMUNERATION REPORT |
10 | CEO'S REPORT | 74 | FINANCIAL STATEMENTS |
12 | REVIEW OF OPERATIONS | 116 | GLOSSARY AND ABBREVIATIONS |
16 | BOARD OF DIRECTORS | 117 | CORPORATE DIRECTORY |
18 OUR PEOPLE
NITY
Acknowledgement of Country
We acknowledge the Traditional Custodians of the land on which we work, live and travel. We pay respect to Elders past, present and emerging.
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CREDIT CORP ANNUAL REPORT 2023 | HIGHLIGHTS | ABOUT US | OUR BUSINESS | CHAIR'S REPORT | CEO'S REPORT | REVIEW OF OPERATIONS |
HIGHLIGHTS 2023
Our leadership has delivered a consistent record of success and the flexibility to respond when circumstances change.
Financial Highlights
$385.7M
Post-Tax Operating Cash Flow
↓ 0.3% VS. PCP
$91.3M | $1,046.7M |
Income Generating Assets | |
NET PROFIT AFTER TAX (NPAT) | ↑ 25% VS. PCP |
↓ 5% VS. PCP 1 | |
$473.4M | 134.2¢ |
Earnings per share (EPS) | |
REVENUE | ↓ 6% VS. PCP 1 |
↑ 15% VS. PCP |
70.0¢
Dividends per share (DPS)
↓ 5% VS. PCP
REVENUE ($M) | NPAT ($M) | |||||||||||||||
473.4 | 96.2 | 1 | ||||||||||||||
88.1 | 91.3 | |||||||||||||||
411.2 | ||||||||||||||||
382.0 | 79.6 | |||||||||||||||
374.8 | ||||||||||||||||
324.3 | 313.4 | 64.3 | 70.3 | |||||||||||||
299.0 | ||||||||||||||||
266.0 | 55.2 | |||||||||||||||
226.7 | 45.9 | |||||||||||||||
15.5 | ||||||||||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Revenue | Revenue impact of COVID-19 adjustments | NPAT | NPAT impact of COVID-19 adjustments |
1. FY22 excludes US Paycheck Protection Program receipt of an after tax $4.5 million. FY22 statutory NPAT was $100.7 million and EPS was 148.9 cents.
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BOARD | OUR PEOPLE | STORIES | SUSTAINABILITY | CGS | DIRECTORS' REPORT | REMUNERATION REPORT | FINANCIAL STATEMENTS | OTHER |
Our People
The diversity of our people is key to our success
2,261
EMPLOYEES
across the globe
Customers
Our relationships are built on respect and collaboration
Maintained
lowest
EDR COMPLAINT RATE
in Australian industry
Community
We aim to provide a pathway to mainstream financial inclusion
98%
SMALL SUPPLIERS PAID
within 30 days of agreed arrangements 2
68,400 3.2M
HOURS | CUSTOMERS |
training delivered | globally |
95% $1.73B
LEADERSHIP | IN FACE VALUE |
positions filled internally | of debts in ongoing repayment |
arrangements |
Highest rated
CONSUMER HARDSHIP RESPONSE
by the financial counsellors in the most recent Rank the Banks survey (Dec 2019)
8TH YEAR
granting a scholarship through the Jan Pentland foundation
59% | $12.7B | 2,000KG | |||||||||
WOMEN IN | IN FACE VALUE | OF E-WASTE RECYCLED | |||||||||
frontline operational | of receivables globally | from our Australian offices | |||||||||
management roles | |||||||||||
POST-TAX OPERATING CASH FLOW ($M) | INCOME GENERATING ASSETS ($M) | ||||||||||
366.6 | 386.0 | 386.7 | 385.7 | 1,046.7 | |||||||
289.7 | 835.7 | ||||||||||
263.4 | 272.4 | ||||||||||
229.0 | 586.5 | 559.9 | 602.5 | ||||||||
469.2 | 513.0 | ||||||||||
363.7 |
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
2. Payment timesto small business suppliers as reported under the Payment Times Reporting Scheme for the six months to 31 December 2022.
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Disclaimer
Credit Corp Group Limited published this content on 01 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2023 08:39:08 UTC.
