MoneyHero is a leading personal finance and digital insurance comparison platform in South-East Asia. The group operates online through both its DTC platforms and its B2B channel, Creatory. It offers users financial products including credit cards, personal loans, mortgages and insurance.
MoneyHero is well positioned to benefit from South-East Asia’s growing affluence, increasing adoption of digital services and internet penetration. Furthermore, management’s focus on the more profitable insurance vertical means the company is primed to capitalise on the expected growth in non-life insurance across the medium term. The company has strong brand recognition and a market-leading position in four of its five geographies.
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Update
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Initiation
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edison tv
Hao Qian
CFO
Rohith Murthy
CEO
Forecast net cash (US$m)
62.1
Forecast gearing ratio (%)
N/A
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (9.3) | 7.7 | (80.8) |
Relative | (12.1) | 2.3 | (84.9) |
52 week high/low | US$10.4/US$0.8 |
MoneyHero has made a promising start to FY24, with robust levels of revenue growth in Q124 across several core markets and all product verticals. Investment in the platform has resulted in improved application conversion rates, while several senior hires have been made including the new CFO, Hao Qian, and a head of AI. Although the EBITDA loss widened in the quarter, management expects profitability to improve to a break-even run rate by the end FY24.
Y/E Dec | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 68.1 | (15.6) | (30.2) | (5217.47) | N/A | N/A |
2023A | 80.7 | (6.8) | (156.5) | (1348.69) | N/A | N/A |
2024E | 104.4 | (1.9) | (4.2) | (8.22) | N/A | N/A |
2025E | 125.1 | 5.0 | 1.7 | 3.12 | 59.3 | 66.1 |