1Q26 update - another record quarter
| Stock | Plenti Group Ltd (PLT.ASX) |
|---|---|
| Release Time | 23 Jul 2025, 8:17 a.m. |
| Price Sensitive | Yes |
Plenti delivers another record quarter
- Third consecutive quarter of record loan originations at $437 million
- Strong growth in NAB powered by Plenti car loan product
- Loan portfolio increased to $2.7 billion, up 21% on PCP
Plenti Group Limited (ASX:PLT) has delivered another outstanding quarter, with record loan originations of $437 million, up 44% on the prior corresponding period and 7% on the prior quarter. The company's loan portfolio grew to $2.7 billion, a 21% increase from 30 June 2024 and a 6% increase from 31 March 2025. Key highlights for the quarter include:- Strong growth in the NAB powered by Plenti car loan product, with the daily origination rate up 110% on the prior quarter- Low annualised net credit losses of 94 basis points, down from 116 basis points in the prior quarter- 90+ day arrears of 49 basis points at quarter end, down from 59 basis points in the prior corresponding period- Quarterly revenue of $73.3 million, up 20% on the prior corresponding period- Winning the tender to manage the WA Residential Battery Scheme, delivering an end-to-end technology solution within 6 weeks- Completing a $400 million unsecured PL & Green ABS transaction, achieving strong pricing outcomes with a record number of participating investorsPlenti's CEO, Adam Bennett, commented that the result gives the company a great foundation to build on as it pushes towards a $3 billion loan book by the end of the 2026 financial year.
Plenti's objectives for the year to 31 March 2026 include: achieving a $3 billion loan book, continuing to drive meaningful Cash NPAT growth as the company scales, and delivering previously communicated $25 million of efficiency as the loan portfolio scales to $3 billion, with an operating cost base of ~$69 million or less in FY26.
Plenti remains on track to deliver its FY26 objectives, with continued momentum in its core products, strong growth in the NAB powered by Plenti car loan product, and the successful delivery of the WA Residential Battery Scheme, reinforcing the company's position as a leader in financing household electrification.