Lendinvest (LINV) investor relations material

Executive summary

• Achieved strong lending growth of £663.6m, up 23% year-on-year, with platform AUM rising 17% to £3.45bn and funds under management up 14% to £5.31bn.

• Net fee income increased 9% to £11.6m, net operating income rose 29% to £21.5m, and adjusted EBITDA improved to £3.7m from a loss last year.

• Profit before tax reached £1.2m, marking the second consecutive profitable half and a 151% year-on-year increase.

• Transformation to a lean, scalable, tech-driven platform is fully embedded, driving operating leverage and profitability.

• Completed seventh RMBS securitisation and issued a £75m retail bond, enhancing funding flexibility.

Financial highlights

• Net operating income up 29% year-on-year to £21.5m.

• Net interest income surged 55% to £9.3m, with net interest margin up 5bps to 2.42%.

• Adjusted EBITDA improved to £3.7m from a £0.3m loss last year.

• Profit before tax at £1.2m, up 150% year-on-year.

• Net assets increased 10% to £72.7m, supporting balance sheet resilience.

Outlook and guidance

• Entering H2 with a strong lending pipeline and scalable platform, with full-year performance expected to meet market expectations.

• Earnings trajectory and funding capacity continue to improve, with positive momentum into the second half.

• Recent bond exchange to lower-cost, longer-term debt strengthens balance sheet and future earnings capacity.

• Underlying costs expected to trend down, supporting positive operating jaws.

• Medium-term ambition is to scale lending and AUM without proportionally increasing costs, broaden institutional capital, and focus on automation and AI.