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> OFX OFX GROUP LIMITED FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2021 9 November 2021 - OFX Group Ltd ( " OFX " or " the Group " ) ( ASX : OFX ) today announced a strong first half result for the six months ended 30 September 2021 with good business momentum . Record Net Operating Income ( NOI ) of $ 68.6m was up 27.3 % on the prior corresponding period ( PCP ) driven by growth across all segments and regions . Underlying EBITDA of $ 20.3m was up 88.0 % on PCP and up 22.7 % on FY20 , demonstrating growth relative to pre COVID results . The Group's investments are delivering results , with every region growing revenue double - digit and North America a standout at 32.9 % . Our segments are all performing strongly with Corporate revenue up 16.2 % , Online Seller revenue up 13.5 % ex - Asia and Enterprise revenue up 40.5 % with good progress in the pipeline and Consumer revenue was up 28.1 % . Bad debts were down 100 % and recurring revenue for the half was 78 % . Financial highlights Turnover of $ 15.0bn , up 34.0 % vs 1H21 ; with ○ о Transactions¹ up 14.1 % to 579.4k ; and Average Transaction Values ¹ ( ATVs ) up 19.8 % Fee and trading income ( revenue ) up 20.1 % to $ 74.0m Net Operating Income ( NOI ) up 27.3 % to $ 68.6m Underlying EBITDA up 88.0 % to $ 20.3m Statutory NPAT up 279.9 % to $ 10.9m Strong operating cash flows with net cash held of $ 63.1m and Net Available Cash of $ 37.6m OFX's Chief Executive Officer and Managing Director , Skander Malcolm , said : " I'm delighted to report an excellent first half with good momentum across all of our key metrics . Turnover was up 34.0 % for the year with revenue up 20.1 % , while NOI was up 27.3 % as we improved efficiencies in bank fees and partner commissions . " We delivered double - digit revenue growth in all regions with strength across our business segments , underpinned by a high - quality portfolio of clients . Momentum is strong with consecutive NOI growth over the previous three halves . It is very encouraging to see the focused investments we have been making over the past few years in our key growth drivers , in our risk management and in our marketing initiatives paying off . " Our Corporate clients are active , loyal and are a strong driver of sustainable growth , with revenues for the half up more than 26 % excluding offshore share purchases and ATVs up 15.4 % . We are also increasing our investment in the Online Seller segment to take advantage of the significant growth opportunity in marketplaces globally . We're building a valuable Enterprise segment as we activate deals won and continue to grow the pipeline . We continue to see a rebound in our Consumer segment , with average transaction values ( ATVs ) up more than 33 % as clients prefer OFX for high - value use cases . " We continued to manage our costs and make targeted investments , with underlying operating expenses up 12.1 % delivering strong growth in EBITDA of 88.0 % , while bad and doubtful debts were down 100 % as fraud activity continued to reduce as a result of new identify management and biometric tools being implemented . " 1 Excluding offshore share purchases OFX Group Limited ( ABN 12 165 602 273 ) ⚫ investors@ofx.com ⚫ofx.com Level 19 , 60 Margaret Street , Sydney NSW 2000 Australia 1