Mortgage Advice Bureau : Investor Presentation - 2021 Interim Results
September 28, 2021 at 02:52 am EDT
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Investor and Analyst Presentation
Mortgage Advice Bureau (Holdings) Plc
Interim results - six months ended 30 June 2021
1
Contents
Highlights
3
Market backdrop
6
Financial review
9
Strategy
14
Summary and outlook
17
Appendices
19
2
Highlights
3
Financial Highlights
Revenue
Gross Profit
Adj. PBT1
(+52% vs H1 2019)(+74% vs H1 2019)(+56% vs H1 2019)
Adj. EPS1Interim DividendCash Conversion2
17.9p | +36%
13.4p | n/a
120% | +23pp3
(+46% vs H1 2019)
(+21% vs H1 2019)
(+21pp vs H1 2019)
In H1 2021 and H1 2020 adjusted for £0.2m amortisation of acquired intangibles. In H1 2021, adjusted for £0.6m of additional non-cash operating expenses relating to the put and call option agreement to acquire the remaining 20% of First Mortgage (H1 2020: £0.4m). In H1 2020 also adjusted for the loan write off and loan provision totalling £1.7m, and £0.5m of Government grant income (net £1.2m).
Adjusted cash conversion is cash generated from operating activities adjusted for movements in non-trading items, including loans to AR firms and associates totalling £(0.9)m in H1 2021 (H1 2020: £0.3m),
£(0.2)m of Government grant income received in H1 2020, and increases in restricted cash balances of £1.2m in H1 2021 (H1 2020: £0.3m), as a percentage of adjusted operating profit.
4
3. Percentage points.
Operational Highlights
Mortgage Completions1
Market Share2
Strategic progress
£11.0bn | +48%
(+59% vs H1 2019)
Adviser Numbers3
1,694| +15%
(+31% vs H1 2019)
6.0% | +2%
(+19% vs H1 2019)
Revenue Per Mainstream Adviser4
£58.4k | +28%
(+19% vs H1 2019)
Lead platform integration
Moneysupermarket.com
Boomin
Nottingham Building Society (Beehive)
Moneybox
M&A
Acquisition of 49% of Evolve FS Ltd
Acquisition by Meridian Holdings Group Ltd of 100% of Metro Finance brokers Ltd
Acquisition by First Mortgage Direct Ltd of 25% in M & R FM Ltd
Share of profit from associates: £0.7m
(H1 2020: £0.1m)
ESG (See Appendix)
MAB's gross mortgage completions, including product transfers.
Market share of gross new mortgage lending (excluding product transfers). H1 2021 number stated for the 7 months to 31 July 2021 due to the distortion effect around 30 June 2021 with the tapering of the stamp duty holiday thereafter.
3.
At 30 June 2021, includes 52 advisers who are either directly authorised or later life advisers.
5
4.
Based on average number of mainstream advisers for the period. Mainstream advisers exclude directly authorised advisers, later life advisers, and advisers from associates in the process of being onboarded.
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Mortgage Advice Bureau (Holdings) plc published this content on 28 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2021 06:51:01 UTC.
Mortgage Advice Bureau (Holdings) plc is a United Kingdom-based company, which operates as a consumer intermediary brand and specialist. The Company, through its subsidiaries, is engaged in the provision of financial services, in particular the provision of mortgage advice and advice on protection and general insurance products. The Company offers mortgage advice on a local, regional and national level to United Kingdom consumers, both face-to-face and over the phone. It offers advice on various kinds of mortgage protection, including critical illness cover, income protection, buildings and contents insurance. The Company's network also offers advice on a range of both protection and general insurance products, which are sourced from a panel of insurers. The Company's software platform, MIDAS, helps to promote Green Mortgages to its advisers. The Company's subsidiaries include Mortgage Advice Bureau Limited, Capital Protect Limited, and First Mortgage Direct Limited, among others.
MORTGAGE ADVICE BUREAU (HOLDINGS) PLC 
