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Home Credit B.V Home Credit B.V. 3rd Quarter 2018 Results Presentation November 27th, 2018 1 Disclaimer This presentation has been prepared solely for informational purposes and shall not be considered as an offer to sell or the solicitation of an offer to buy, subscribe for or otherwise acquire any securities of or obtain lending services from Home Credit B.V., PPF Group N.V. or any of their affiliates in any jurisdiction and shall not be treated as any investment advice or recommendation. This presentation is not directed to, or intended for distribution or use, where it is prohibited by operation of law. The presentation does not take into account, in any way whatsoever, the investment objectives, financial situation or specific needs of its recipients. This presentation and its contents may not be copied or disseminated, in part or as a whole, without prior written consent of Home Credit B.V. Information and opinions presented in this presentation may have been obtained or derived from various sources which are believed by Home Credit B.V. to be reliable but such information has not been verified by Home Credit B.V. Certain information in this presentation is based on management estimates. Such estimates have been made in good faith and represent the current beliefs of members of management. Those management members believe that such estimates are founded on reasonable grounds. However, by their nature, estimates may not be correct or complete. Accordingly, no representation or warranty (express or implied) is given that such estimates are correct or complete. Where this presentation quotes any information or statistics from any external source, it should not be interpreted that Home Credit B.V. has adopted or endorsed such information or statistics as being accurate. This presentation contains forward-looking statements. These statements reflect the Home Credit B.V.’s current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as “anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project”, “target”, “may”, “will”, “would”, “could” or “should” or similar terminology. By their nature, forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Home Credit B.V.’s control that could cause the actual results and performance to differ materially from any expected future results or performance expressed or implied by any forward-looking statements. No representation or warranty whatsoever, express or implied, is made as to the accuracy, completeness, consistency or the reliability of the information contained in this document and nothing contained in this presentation is, or should be relied upon as, a promise or representation. We accept no liability for loss arising from the use of any information or acting on any opinion contained in this document. We retain the right to change the contents of this presentation at any time without notice. Neither Home Credit B.V. or any other person is under any obligation to update or keep current the information contained in this presentation or to correct any inaccuracies in any such information which may become apparent or to provide you with any additional information. None of its directors, officers, employees, direct or indirect shareholders, agents, affiliates, advisors or any other person accept any responsibility, liability or duty of care whatsoever for the contents of this presentation, and no representation or warranty, express or implied, is made by any such person in relation to the contents of this presentation. The numbers in this presentation are largely taken from the audited consolidated IFRS statements of Home Credit B.V. In the interest of comparability certain numbers of PT. Home Credit Indonesia are pro-forma. For more information on Home Credit Group, please visit www.homecredit.net. 2 Meeting Agenda 1. HIGHLIGHTS OF 3Q18 2. GROUP FINANCIAL PERFORMANCE 3. COUNTRY PERFORMANCE 4. APPENDIX 3 Home Credit continues profitability trend Total net loans as at 3Q18: €16.7bn 3Q18 Highlights Other Asia (excl. China) Rest 4% OVERALL: 5% 10% • 3Q18 Net income up to €173m from €71m in 2Q18 and €99m in 3Q17 Consumer CZ & SK • Cost of risk down from 10.6% to 9.9% QoQ durables 9% loans • Net interest margin improved by 1.4 p.p. from 3Q17 to 3Q18 28% • Cost income ratio down from 52.3% to 43.2% YoY China Russia 62% COUNTRY HIGHLIGHTS: Cash 15% loans • CN 3Q18 Net income of €88m (+ €42m QoQ) 67% Cost of risk reduced from 13.9% in 2Q18 to 12.4% in 3Q18 Strong support from funding partners confirmed by first revolving ABS of Key metrics and business mix RMB 3bn or Joint Lending starting in September Ratios are annualized where applicable. • RU Growing business supported by controlled risk being on its historical low 2Q17 3Q17 2017 2Q18 (2) 3Q18 levels (risk costs of 2.1%, NPL 3.9%) Deposits (€bn) 5.5 6.0 6.4 6.7 6.7 Fitch rating confirmed at the level fo BB- Gross loans (€bn) 13.6 15.0 16.9 18.6 18.9 Share of active customers using online services reached 60% Equity (€bn) 1.5 1.7 2.0 1.8 1.9 • VN Increased volume generated across all product range with the new volume amounting to VND 24tr (+ 17% YoY) Net income (€m) 52.9 99.4 243.8 71.1 173.1 • IN Continued expansion (175 cities across 20 states with 29t POS in Net interest margin 13.7% 14.7 14.7% 15.8% 16.1% 3Q18) allowing double-digit growth in the business and net loans increase Cost of risk 8.3% 7.3 8.9% 10.6% 9.9% by 61% to €603m in 3Q18 from €374m in 3Q17 Local funding base €177m as of 9M18 through Securitization, NCD’s, Cost income ratio 53.4% 52.3 52.0% 45.0% 43.2% Direct Assignment, CP and Term Loans; €63m raised localy only in 3Q18 RoAE 13.6% 24.4 14.5% 15.7% 36.7% • ID Continued strong growth from previous quarters, adding 1,665 POS to its network to a total of 17,547 (+90% YoY) serving more than 1.6m # of distribut.points (‘000) 364.7 398.6 399.3 429.6 434.2 active customers and disbursing IDR 2.2tr of new volume (+62% YoY) # of active customers (m) 26.5 28.6 29.9 29.0 28.9 • PH Three consecutive quarters of profitability Successfully raised Php 6.5b via loan syndication (initial volume Php 5b (1) Impact, net of tax, ot the introduction of IFRS 9 amounts to a reduction in equity of €203m at 1 January 2018. increased by green shoe tranche) including oversubscription of Php 1.5b, i.e. total oversubscribtion 167% 4 Home Credit’s five key strategy pillars Online & Offline Responsible Attractive Lending Markets Strong Leading Risk Funding Management 5 Leading positions in attractive markets GDP Growth Total Assets Country Population (m) RoAE 3Q18 (3) Total Assets 3Q18 (€m) 2017 (2) Growth (YoY) China 1,415 6.9% 26.6% 11,698 15.7% India 1,354 6.6% 125.2% 768 77.9% US 327 2.3% (158.1%) 84 157.6% Indonesia(1) 266 5.1% (5.1%) 389 76.4% Russia 143 1.5% 14.5% 3,322 (9.7%) Philippines 106 6.7% 5.6% 400 122.1% Vietnam 96 6.8% 29.5% 675 16.6% Kazakhstan 18 4.0% 59.7% 731 56.8% CZ & SK 15 CZ 4.3% / SK 3.4% 20.7% 4,460 18.0% (1) Included portfolio which is not on HC books and is financed within JFS (2) Source: The World Bank (3) Annualized 6 Strong online growth driven by HC App and partnerships Sales volume (€m) Mobile app – monthly active users (‘000) 14 000 12 000 711 +56% 281% 10 000 531 8 000 456 6 000 4 000 2 000 0 3Q17 4Q2017 3Q18 03/17 09/17 12/17 03/18 09/18 Social media followers: 13,553,056 as at 3Q18 / +36% QoQ growth 7 Home Credit keeps expanding network and client base Number of POS (‘000) 434 400 8.9% 60 40 14 13 Asia (excl. China) Other (1) 252 166 245 7 China 18 38 Russia 102 103 108 2014 3Q17 3Q18 Active clients 9.1m 28.6m +1.2% 28.9m Total clients 44.4m 90.3m +23.1% 111.2m (1) Other includes Czech Republic, Slovakia, Belarus, Kazakhstan, US. 8 Home Credit Cost income ratio improving continuously Cost income ratio 53.4% 52.3% 52.0% KEY DRIVERS ARE: 45.0% • Economies of scale enabled by growth in key 43.2% countries • Roll-out of mobile and alternative distribution channels 2Q17 3Q17 2017 2Q18 3Q18 Number of employees (‘000) 144.8 155.2 157.7 130.8 132.4 9 Home Credit risk costs reduced sharply in 3Q18 Improving risk performance Key drivers NPL coverage CHINA 122% 144% 132% 132% • 3Q18 results showing mitigation of 1H18 performance, which was strongly affected by the impact of regulatory 14.9% actions introduced in China in 2017 11.7% • Home Credit’s proactive management of emerging retail 10.6% over-leveraging led to significant improvement in default 8.9% 9.0% 8.9% 8.2% rate of loans originated after September 2017 6.9% • The new originations booked in 2018 in China XS are expected to have 50% lower risk than the actual observed losses on previous vintage bookings 2017 1Q18 2Q18 3Q18 OTHER COUNTRIES (1) (2) Cost of risk NPL ratio • Risk performance in other countries relatively stable • Improving risk performance IFRS 9 • Conservative provisioning policy • The impact of IFRS 9 introduction in January 2018 (the year-opening-balance impact) pushed the NPL coverage from 125% to 149% (retail only) (1) Impairment losses / Average net loans (2) End of period gross loans > 90DPD / Total end of period gross loans 10 Home Credit maintains conservative diversified funding strategy with very limited duration gap Diversified funding Very limited duration mismatch Funding sources of €22.2bn as at 3Q18 Interest position (as at 3Q18) Subordinated Equity Liabilities Other liabilities 9% 3% Assets 1% Customer 4 352 deposits 3 808 3 337 3 633 Gap 2 968 Debt securities 30% 5% 1 378 916 617 207 495 0 -371 -343 -542 -1 101 -3 343 -3 506 -2 853 -4 137 Loans received -5 099 52% 11 Home Credit enjoys strong access to capital markets First Revolving Securitization Commercial Transaction of Non-Convertible Papers Consumer Loan Debentures in India Portfolio in China in India Home Credit India HC CFC Home Credit India INR 2.5bn RMB 3bn INR 1.9bn Home Credit India Home Credit China Home Credit India 2 CPs ABS project 2 NCDs Rating: A- Rating: AAA/AA+ September 2018 October 2018 July - September 2018 12 Meeting Agenda 1.
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