Pioneer Credit (ASX: $PNC) FY24 Pre-Results Roadshow Unaudited Cash Numbers

Pioneer Credit Limited (Pioneer) (ASX: $PNC) has released its unaudited cash numbers for FY24. The company reported continued growth in cash collections and strong EBITDA, which is expected to support PDP investment and balance sheet deleveraging. Pioneer, a debt recovery specialist, highlighted its market position and growth opportunities in the Australian Purchased Debt Portfolios (PDP) market. The company's management accounts, from which the financial information is derived, are unaudited and subject to change.

Executive Commentary on FY24 Highlights and Growth Opportunities

Pioneer's FY24 highlights demonstrate our commitment to strong cash collections and prudent investment in Purchased Debt Portfolios (PDPs). The EBITDA growth provides us with the necessary free cash to support our PDP investment and reduce our balance sheet leverage. We are pleased with the successful senior refinance closure, which is expected to deliver immediate savings in FY25. Our position as a leader in the Australian PDP market, with a market duopoly emerging as competitors continue to exit, gives us confidence in our growth prospects. We remain focused on our purpose, principles, and vision, aiming to act with purpose, be human, choose integrity, and put an end to debt stress. Our strong Net Promoter Score (NPS) reflects our genuine care for our customers, and we are committed to delivering positive customer outcomes.

Summary of FY24 Highlights and Outlook

Pioneer Credit Limited (Pioneer) (ASX: $PNC) reported strong cash collections growth and EBITDA performance in FY24, supporting its investment in Purchased Debt Portfolios (PDPs) and balance sheet deleveraging. The company's position as a leader in the Australian PDP market, with a market duopoly emerging, presents growth opportunities. Pioneer's strategic focus on positive customer outcomes, compliance, and vendor partnerships reinforces its market position. The successful senior refinance closure is expected to contribute to immediate savings in FY25. Looking ahead, Pioneer aims to capitalize on the high barriers to entry and changing landscape to increase its market share and realize operating leverage. The company's management is aligned to shareholders and focused on long-term sustainable growth, with a positive outlook for FY25 initiatives and PDP opportunities.