percy
12-08-2024, 11:45 AM
GFL is now traded on Unlisted USX.
Geneva Finance Limited
Geneva Finance Ltd (Geneva) is a New Zealand-owned finance company that commenced operations in 2002 and provides consumer credit and financial services to the New Zealand market. Geneva originates loans through three main distribution channels (Direct, Broker and Dealer), processed through its national operations centre situated at Sylvia Park shopping centre, Mt Wellington, Auckland. Geneva has two principal business activities which are automobile lending and insurance. Automobile lending activities encompass the provision of finance to individuals, to assist them with the purchase of motor vehicles. Geneva’s finance products include hire purchase finance, and personal loans.
Number Of Shares Issued:
72,935,275
Last Financial Year EPS:
0.03
Market Capitalization:
18,963,171
P/E Ratio:
8.44
Last Price:
0.2600
Last 12 Months Gross Dividend Yield:
16.92%
ISIN Number
NZGFLE0001S8
Profile
https://prod-trade.usx.co.nz/api/file/66988f12dc9e0482a73bf6f7.pdf
Annual report.
https://prod-trade.usx.co.nz/api/file/669820b5dc9e0482a73bf166.pdf
Today's update.
USX ANNOUNCEMENT GENEVA FINANCE
Quarterly trading update: June 2024 (Q1, 31 March 2025 financial year)
Group Financial Performance
Group Pretax Profit of $2.4 million, was up $0.98 million (+71.4%) compared to the June 2023
quarter.
NZ Lending Operations
Formerly reported as separate operations (GFSL, Parent company, Stellar Collections, MFL,
Geneva Capital Limited).
Reported a $0.6 million loss, but this represents a $0.1 million improvement over the previous
year and includes NZX delisting costs of $0.2 million incurred to date. Cost of funds were up
$0.3m on Q1 prior year as the Group’s overall cost of funding remains high.
Q1 lending volume decreased by 21% compared to last year, despite an increase in lending
inquiries. Although asset quality is being maintained, the current challenging economic
environment is having an impact as additional provisioning was absorbed in the current quarter.
This is an area that is being monitored closely. Net Receivables Ledger amounts to $101.6 million,
up $1.5 million from the previous year.
The debt litigation and invoice factoring businesses have been exited, with efforts ongoing to
collect the remaining outstanding receivables.
Quest Insurance
The Insurance Business contributed a $2.5 million Q1 profit, being a $0.9 million increase on the
previous year quarter. Gross written premiums for the quarter increased by 18.1% to $14.0m.
Tonga Lending operations (FPF Tonga)
Pretax profit: $0.5m, equal to the Jun 2023 quarter.
Funding
Westpac Funding: $82.1m up $5.8m on last year.
Kiwi Bank: $1.9m, down 1.5m on last year as this facility is being repaid.
Wholesale investors: $17.0m, up $1.7m on last year.
Summary
The performance for Q1 2025, demonstrates an improvement in profitability, primarily driven by
strong performance from our insurance business.
NZ Lending Operations volumes are still recovering from previous challenges mainly due to
disruptions in sub-note funding (our contribution to the Westpac securitization facility)
experienced in Q3 and Q4 of the previous year for which a November 2023 3 EGM was needed.
Loan book quality remains stable amid a tough economic environment.
Geneva Finance Limited
Geneva Finance Ltd (Geneva) is a New Zealand-owned finance company that commenced operations in 2002 and provides consumer credit and financial services to the New Zealand market. Geneva originates loans through three main distribution channels (Direct, Broker and Dealer), processed through its national operations centre situated at Sylvia Park shopping centre, Mt Wellington, Auckland. Geneva has two principal business activities which are automobile lending and insurance. Automobile lending activities encompass the provision of finance to individuals, to assist them with the purchase of motor vehicles. Geneva’s finance products include hire purchase finance, and personal loans.
Number Of Shares Issued:
72,935,275
Last Financial Year EPS:
0.03
Market Capitalization:
18,963,171
P/E Ratio:
8.44
Last Price:
0.2600
Last 12 Months Gross Dividend Yield:
16.92%
ISIN Number
NZGFLE0001S8
Profile
https://prod-trade.usx.co.nz/api/file/66988f12dc9e0482a73bf6f7.pdf
Annual report.
https://prod-trade.usx.co.nz/api/file/669820b5dc9e0482a73bf166.pdf
Today's update.
USX ANNOUNCEMENT GENEVA FINANCE
Quarterly trading update: June 2024 (Q1, 31 March 2025 financial year)
Group Financial Performance
Group Pretax Profit of $2.4 million, was up $0.98 million (+71.4%) compared to the June 2023
quarter.
NZ Lending Operations
Formerly reported as separate operations (GFSL, Parent company, Stellar Collections, MFL,
Geneva Capital Limited).
Reported a $0.6 million loss, but this represents a $0.1 million improvement over the previous
year and includes NZX delisting costs of $0.2 million incurred to date. Cost of funds were up
$0.3m on Q1 prior year as the Group’s overall cost of funding remains high.
Q1 lending volume decreased by 21% compared to last year, despite an increase in lending
inquiries. Although asset quality is being maintained, the current challenging economic
environment is having an impact as additional provisioning was absorbed in the current quarter.
This is an area that is being monitored closely. Net Receivables Ledger amounts to $101.6 million,
up $1.5 million from the previous year.
The debt litigation and invoice factoring businesses have been exited, with efforts ongoing to
collect the remaining outstanding receivables.
Quest Insurance
The Insurance Business contributed a $2.5 million Q1 profit, being a $0.9 million increase on the
previous year quarter. Gross written premiums for the quarter increased by 18.1% to $14.0m.
Tonga Lending operations (FPF Tonga)
Pretax profit: $0.5m, equal to the Jun 2023 quarter.
Funding
Westpac Funding: $82.1m up $5.8m on last year.
Kiwi Bank: $1.9m, down 1.5m on last year as this facility is being repaid.
Wholesale investors: $17.0m, up $1.7m on last year.
Summary
The performance for Q1 2025, demonstrates an improvement in profitability, primarily driven by
strong performance from our insurance business.
NZ Lending Operations volumes are still recovering from previous challenges mainly due to
disruptions in sub-note funding (our contribution to the Westpac securitization facility)
experienced in Q3 and Q4 of the previous year for which a November 2023 3 EGM was needed.
Loan book quality remains stable amid a tough economic environment.