INDEX
Index
INDEX
PAGE | CONTENTS |
002 | Chairman's Letter |
052 | Directors' Report |
056 | Review of Results and Operations |
096 | Consolidated Statement of Profit or Loss and Other Comprehensive Income |
097 | Consolidated Statement of Financial Position |
098 | Consolidated Statement of Changes in Equity |
099 | Consolidated Statement of Cash Flows |
100 | Notes to the Financial Statement |
142 | Directors' Declaration |
144 | Independent Auditor's Report |
150 | Additional ASX Information |
152 | Corporate Directory |
2021 |
CHAIRMAN'S LETTER
Chairman's Letter
Dear Shareholders
In 2021 Freelancer Limited delivered an all-time record Gross Payment Volume of $1,259.7 million (up 41.3% on pcp) or US$943.9 million (up 52.6% on pcp). By segment, Freelancer GMV was $134.5m, down 5.2% on pcp. Escrow had a great year achieving an all-time record GPV of $1,079m, up 54.3% on pcp (US$808.3m, up 66.3%).
Operating cash flow for the year was $2.6 million.
The group ended the year with cash & cash equivalents on December 31 of $30.3 million, down $4m on 31 Dec 2020, of which this $4m was used for the acquisition of Loadshift, Australia's largest heavy haulage freight marketplace.
Revenue for the full year was $57.4m (down 2.3% on pcp) or US$43.1m (up 6.4%). Freelancer revenue was $46.1m down 8.8% on pcp (US$34.6m, down 0.5%), while Escrow achieved all-time record revenue of $11.3m up 37.3% on pcp (US$8.5m, up 48.6%).
In Australian dollars, FX was a headwind of -8.9% in the year as the Australian dollar appreciated against the USD from an average of 0.6903 to an average of 0.7516.
Approximately 74% of group revenue is USD and 6% is AUD.
Escrow also ended the quarter with off balance sheet cash of US$47.0 million.
Group operating EBITDA was trending to break-even at ($2.7m) as was NPAT at ($2.3m). Escrow was profitable in FY21 with EBITDA of $1.7m.
A detailed analysis of the activities of the group are provided in the Review of Operations in the Directors' Report.
CHAIRMAN'S LETTER
2021
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Freelancer Ltd. published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 23:47:06 UTC.