• Revenue up 2.9% to $47.7m
• Profit after tax up to $1.7m
• Successful refinancing of senior debt and MTNs

Pioneer Credit Limited, an ASX-listed provider of financial services support, has reported its results for the half-year ended 31 December 2024. Revenue from ordinary activities increased by 2.9% to $47.7 million, while profit after tax attributable to members rose to $1.7 million, up from $32,000 in the prior corresponding period. The company closed the refinancing of its senior debt facilities of $272.5 million with a tenor to December 2028 and a materially lower margin. The company's Medium Term Notes of $55.5 million were also restructured and the tenor extended to June 2029. This refinancing significantly reduces Pioneer's cost of funds, enabling it to accelerate its growth plans and drive further profitability. During the period, Pioneer upgraded its Purchased Debt Portfolio investment from $80 million to $90 million, and the company continues to be selective in choosing where to invest its capital to achieve excellent returns. Pioneer remains focused on providing exceptional customer service, underpinned by its strong corporate governance and risk management practices, which are highly regarded by its financial institution partners.

Pioneer expects to increase its Purchased Debt Portfolio investment beyond the $90 million guidance provided, as the company continues to assess opportunities to deploy capital in the most productive manner.

Pioneer is well-positioned to leverage its operational efficiencies and accelerate its growth journey, driven by the successful refinancing of its debt facilities and the strong demand from vendors to partner with the company.