OFX Group Ltd (ASX:OFX)
A$ 2.11 0.04 (1.93%) Market Cap: 506.68 Mil Enterprise Value: 187.76 Mil PE Ratio: 16.69 PB Ratio: 2.90 GF Score: 89/100
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Full Year 2020 OFX Group Ltd Earnings Call Transcript

May 18, 2020 / 11:30PM GMT
Release Date Price: A$1.36 (+3.03%)
John Alexander Malcolm
OFX Group Limited - CEO, MD & Executive Director

Thank you, Ashley. Thank you, everyone, for joining the call. As Ashley mentioned, I'm joined by Selena Verth, our CFO; and Matt Gregorowski, who leads our Investor Relations program with Citadel-MAGNUS. Selena and I will take you through the pages, and then there'll be some time for Q&A. We'll cover the full year result, what it is and what drove it as well as our outlook for FY '21.

Let's move to Slide 4 in the pack. We delivered a strong financial result, revenue up 6.6%, underlying expenses up 5% and underlying EBITDA up 6.4% against the backdrop of very mixed trading conditions over the full year. Whilst the first half and 3Q were relatively quiet, we saw exceptionally high levels of market volatility in February and March related to COVID-19. This helped drive the EBITDA result of $38.2 million, coming in at the top end of the range we provided in mid-March. Net operating income was up 5.4% at $125.2 million, driven by a record fourth quarter growth of 16.3%. The final dividend will be maintained at $0.0235 per

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