N1 HOLDINGS LIMITED For personal use only
24th January 2022
Quarterly activity report
(for the period of 1 October 2021 to 31 December 2021)
N1 Holdings Limited (ASX: N1H or the "Company") is pleased to announce the December 2021 quarter cashflow which records continued growth in various business segments including Small and Medium Enterprises (SME) lending, mortgage management (self branded commercial and residential loans - N1 Plus) and mortgage brokerage, throughout the first half year of the financial year ending 30 June 2022 (HY2022), being the period from 1 July 2021 to 31 December 2021. During HY2022, the Company experienced a record half yearly performance, with more than double the cash receipts, revenue and net profit compared to same period last financial year (1 July 2020 to 31 December 2020) (HY2021).
A highlight of the FYTD and quarterly cash flow and financial performance:
- Net profit HY2022 of approximately $391,000 (unaudited), representing an improvement of 115% compared to HY2021.
- EBITDA HY2022 of approximately $989,000 (unaudited), representing an improvement of 54% compared to HY2021.
- Revenue HY2022 of $4,600,000 (unaudited), representing an improvement of 123% compared to HY2021.
- Cash receipts from customers of $2.64mil for the quarter, representing an improvement of 166% compared to the December 2020 quarter.
- Positive net cash from operating activities of $2.964mil for the quarter.
- The Company's SME lending business (including management fees derived from One Lending Fund through N1 Asset Management) continued to be the major revenue generator of the Company, accounting for 79% of the total cash receipts from customers in the quarter. Total cash receipts from customers via the SME Lending business was $2,09m for the quarter.
- Operating Expense (OPEX) is $1.08mil in this quarter.
- Cash balance as of 31 December 2021 is $10,999,000.
Company Business activities
The Company recorded revenue of $2.32mil (unaudited) for the quarter. The Company's SME lending business contributed $1.75m of revenue in the quarter and accounted for 76% of the Company's total revenue in the quarter. The balance of other revenue was composed of mortgage broking, mortgage management, funds management, and others.
One Lending Fund revenue was $0.70mil (unaudited) for the quarter and $1.44m for HY2022, which is not to be consolidated into the Company balance sheet (as this is a separate SME lending fund managed by N1 Asset Management, a 100% owned subsidiary of N1H).
The Company currently has committed SME lending capital of over $90m, comprised of $25mil of capital committed to the One Lending Fund and $10mil of capital from the Company's balance sheet and $55mil committed capital under a debt facility.
The Company continues to raise funds for SME lending purposes, including One Lending Fund. There are no other substantive business activities during the quarter other than all previously announced. Management expects significant revenue uplift in coming months due to expanded lending capital.
For personal use only
Payments to related parties of the entity and their associates
- Salary and super to executive directors of $155,725; and
- Services provided by director related entities of $23,836. Costs are determined on an arm's length basis.
Authorised for release by the Chairman.
For more information, please contact:
Ren Hor Wong
Chairman & Chief Executive Officer renwong@n1holdings.com.au
About N1 Holdings Limited (ASX: N1H)
N1 Holdings provides strategic advice to businesses, project developers and property investors seeking new capital/debt or refinancing existing debt. We assist borrowers through the complex application processes of Australian major banks, private funds, and offshore debt capital providers. With the growth in lending from non-traditional sources, such as alternative banks and non-bank funders and lenders, N1H's domestic and foreign strategic relationships perfectly places it to advise its clients through this changing lending environment and debt market. N1H's core services include business lending, cross- border corporate financing, project funding, fund trustee services and vendor finance solutions.
N1 Holdings Limited ABN 44 609 268 279
Address: Suite 502, 77 King Street, Sydney NSW 2000
Phone: 02 9262 6262 Fax: 02 9299 1286
Email: investor@n1holdings.com.au
For personal use only
Rule 4.7B
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Name of entity | |
N1 Holdings Limited | |
ABN | Quarter ended ("current quarter") |
44 609 268 279 | 31 December 2021 |
Consolidated statement of cash flows | Current quarter | Year to date (6 | ||
$A'000 | months) | |||
$A'000 | ||||
1. | Cash flows from operating activities | |||
1.1 | Receipts from customers | 2,640 | 5,514 | |
1.2 | Payments for | |||
(a) | research and development | - | - | |
(b) | product manufacturing and operating | (222) | (860) | |
costs | ||||
(c) | advertising and marketing | (36) | (50) | |
(d) | leased assets | - | (7) | |
(e) | staff costs | (585) | (1,108) | |
(f) | administration and corporate costs | (240) | (598) | |
1.3 | Dividends received (see note 3) | |||
1.4 | Interest received | 2 | 2 | |
1.5 | Interest and other costs of finance paid | (857) | (1,482) | |
1.6 | Income taxes paid | - | - | |
1.7 | Government grants and tax incentives | 81 | 243 | |
1.8 | Net cash from commercial lending | 2,208 | 7,068 | |
1.9 | Proceeds from sale of trailbook | - | - | |
1.10 | Other (provide details if material) | (27) | (85) | |
1.11 | Net cash from / (used in) operating | 2,964 | 8,637 | |
activities | ||||
2. | Cash flows from investing activities | |||
2.1 | Payments to acquire or for: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | (4) | (14) |
ASX Listing Rules Appendix 4C (17/07/20) | Page 1 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
For personal use only
Appendix 4C
Quarterly cash flow report for entities subject to Listing Rule 4.7B
Consolidated statement of cash flows | Current quarter | Year to date (6 | ||
$A'000 | months) | |||
$A'000 | ||||
(d) | investments | 61 | 120 | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | (200) | (707) | |
2.2 | Proceeds from disposal of: | |||
(a) | entities | - | - | |
(b) | businesses | - | - | |
(c) | property, plant and equipment | 18 | 18 | |
(d) | investments | - | - | |
(e) | intellectual property | - | - | |
(f) | other non-current assets | - | - | |
2.3 | Cash flows from loans to other entities | - | - | |
2.4 | Dividends received (see note 3) | - | - | |
2.5 | Other (provide details if material) | - | - | |
2.6 | Net cash from / (used in) investing | (125) | (583) | |
activities |
3. Cash flows from financing activities
3.1 Proceeds from issues of equity securities
(excluding convertible debt securities) | - | - | |
3.2 | Proceeds from issue of convertible debt | - | - |
securities | |||
3.3 | Proceeds from exercise of options | - | - |
3.4 | Transaction costs related to issues of | - | - |
equity securities or convertible debt | |||
securities | |||
3.5 | Proceeds from borrowings | - | - |
3.6 | Repayment of borrowings | (41) | (267) |
3.7 | Transaction costs related to loans and | - | - |
borrowings | |||
3.8 | Dividends paid | - | - |
3.9 | Other (provide details if material) | - | - |
3.10 | Net cash from / (used in) financing | (41) | (267) |
activities |
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of
period | 8,201 | 3,212 | |
4.2 | Net cash from / (used in) operating | 2,964 | 8,637 |
activities (item 1.11 above) |
ASX Listing Rules Appendix 4C (17/07/20) | Page 2 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B
For personal use only
Consolidated statement of cash flows | Current quarter | Year to date (6 | |
$A'000 | months) | ||
$A'000 | |||
4.3 | Net cash from / (used in) investing activities | (125) | (583) |
(item 2.6 above) | |||
4.4 | Net cash from / (used in) financing activities | (41) | (267) |
(item 3.10 above) | |||
4.5 | Effect of movement in exchange rates on | - | - |
cash held | |||
4.6 | Cash and cash equivalents at end of | 10,999 | 10,999 |
period | |||
5. | Reconciliation of cash and cash | Current quarter | Previous quarter |
equivalents | $A'000 | $A'000 | |
at the end of the quarter (as shown in the | |||
consolidated statement of cash flows) to the | |||
related items in the accounts | |||
5.1 | Bank balances | 10,999 | 8,201 |
5.2 | Call deposits | ||
5.3 | Bank overdrafts | - | - |
5.4 | Other (provide details) | ||
5.5 | Cash and cash equivalents at end of | 10,999 | 8,201 |
quarter (should equal item 4.6 above) | |||
6. | Payments to related parties of the entity and their | Current quarter | |
associates | $A'000 | ||
6.1 | Aggregate amount of payments to related parties and their | 180 | |
associates included in item 1 |
6.2 Aggregate amount of payments to related parties and their associates included in item 2
Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments
ASX Listing Rules Appendix 4C (17/07/20) | Page 3 |
+ See chapter 19 of the ASX Listing Rules for defined terms. |
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N1 Holdings Ltd. published this content on 24 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2022 07:53:00 UTC.
