Good post @joda
A touch of reality - what impact has covid19 had on Humm ?
Discussion :See also table below.
The cards division - all travel ,& discretionary spend has been hit hard. Total group revenue was down by $35m - BNPL & leasing both actually showed growth - whilst however Cards Aust was down $24m and NZ $11m.
Transaction Volume was far far away from normalised operations by some $320m - (compared to 2018 volumes).
For the first time some indication has been given on the amount that travel restrictions have impacted volumes - in 2020 $163m was spent on travel related expenditure by AU cards customers. ( see results presentation Cards slide 21 bar graph volumes split).
In 2021 - that virtually disappeared overnight.
If you believe in the opening trade - 80% double dose freedom - consumers have a war chest of pent up demand - ready to spend.- according to the Fin Review weekend 4-5 Sept 2021 p3 - the war chest is approaching $200 billion.
Travel & discretionary spend will come back Humms way- Flight centre, Qantas , Corporate Travel, Web jet share prices are all up in anticipation.
Humm has 2700 customers ready to spend $ using both Humm cards and BNPL products.
And do not forget that flight centre deal Humm has dated 4 Feb 2020 - just before covid hit:“FlexiGroup said in a statement that the dealwill drive repeat business to Flight Centre and is expected to result in adouble-digit increase in total income for the company over the life of thepartnership”.
https://www.travelweekly.com.au/article/flight-centre-inks-new-four-year-deal-with-finance-provider/
cheers
HUMM - Covid analysis on AU Cards FY18 FY19 FY20* FY21** FY21-FY20 FY21-FY18 1 $M $M $M $M $M $M 2 Group Revenue 458 473 478 443 -35 -15 3 4 Volume - Australian Cards 740 811 597 417 -180 -323 5 - Travel volume 163 0 -163 0 6 - Every day spend 740 811 434 417 -17 -323 7 8 Revenue 88 104 115 91 -24 -53 9 % of volume 12% 13% 19% 22% 16% 10 @averge % 11 ** FY21 Covid Impact full year 12 * 4th qtr FY20 Covid commenced
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