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cashconverters ASX Release | 25 February 2021 Half - Year Financial Results For the period ended 31 December 2020 Continued Recovery & Dividend Update Cash Converters International Limited ( ASX : CCV ) ( " Cash Converters " or " the Company " ) today announced its financial results for the half - year ended 31 December 2020 ( H1 FY 2021 ) . H1 FY 2021 Key Results . $ 98.4m Revenue down 31 % • $ 7.7m Statutory NPAT , Operating NPAT ^ down 28 % • $ 24.6m Statutory EBITDA , Operating EBITDA ^ down 19 % . $ 8.6m Operating Cash Flow up • $ 12.7m Gross Bad Debt Expense down 56 % • $ 5.3m Online Retail Sales up 39 % • $ 16.0m Pawnbroking Loan Book up 72 % • $ 91.3m Cash and Equivalents ^ Operating results adjusted for Class Action Settlement Note : Loan book balances are compared against balances as at 30 June 2020. All other comparisons are against the previous corresponding period , being the half - year ended 31 December 2019 . Managing Director , Sam Budiselik stated , " The performance of our underlying business has been extremely impressive considering the substantial impact of COVID - 19 throughout the first half of FY 2021. The ongoing Government stimulus had resulted in our inventory levels depleting throughout our store network , our Loan Books contracting and franchise fee revenue reducing as various state - wide ( and international ) lockdowns occurred throughout the period . " Despite these headwinds the resilience of our business model continued to demonstrate the appeal of our store service experience and the reach of our online and digital assets . " Each business unit that contracted in response to the stimulus provided by the Government over the past 12 months , has started the journey towards recovery . Our Pawnbroking book is an example , growing to over $ 16 million , from a reported low of $ 10.8 million in September 2020 . " The closure of stores in response to the various lockdowns , whilst impacting normal operating revenue , resulted in a surge in online retail sales , climbing to $ 5.3 million for the half . Our store inventory levels continue to recover from record lows , ensuring we enter the second half with appropriate levels of stock to meet demand . " The increase in early loan payouts and reduced credit demand mentioned in our Business Update on 1 July 2020 have reversed and we are rebuilding our loan books at a steady pace , while maintaining the appropriate credit risk disciplines that have seen a dramatic improvement in bad debt . While the value of our combined loan book is lower than the previous corresponding period , our bad debt is well below historic levels . We expect this to normalise somewhat as Government stimulus unwinds and demand fully recovers , but we are confident in our credit risk models and our ability to meet that demand appropriately going forward . Cash Converters International Limited ABN 39 069 141 546 | ASX : CCV www.cashconverters.com