Thank you, Sari. Thank you everyone for joining the call. As Sari mentioned, I'm joined by Selena Verth, our CFO, and Matthew Gregorowski, who leads our investor relations program with Citadel-MAGNUS. Selena and I will take you through the pages, there'll be some time for Q&A. This presentation will cover three things. The half year result, what it is and what drove it, our financials in more detail, and the strategy for the larger OFX, including why and how we will be more valuable in the future, as well as our FY 2023 outlook. Let's move to slide five in the pack. The first half FY 2023 was an excellent half, with turnover of AUD 19.9 billion, up 32.6% versus prior year. Net operating income, or NOI, at AUD 105.3 million, up 53.4%. Underlying EBITDA at AUD 32.3 million, up 59.4%. We are delighted to show strong growth rates across all our major metrics versus the prior period, they all grew half on half. It was especially good to see NOI grow over 34% against the second half FY 2022. This was, of course, underpinned by the addition of Firma ex-UK from May. NOI margins, excluding same currency transactions, were 62 basis points, up nine basis points on second half FY 2022, as we managed inflationary forces exceptionally well. The investments continue to grow, with particular emphasis on people, technology and marketing as we build a strong, scalable company for the medium term. In that context, it's also very encouraging to see such a healthy underlying EBITDA margin at over 30%. The results were underpinned by great execution, highlighted by the closing of the Firma transaction. More on that in a moment, it's a great credit to the OFX and Firma teams to execute this against a difficult backdrop, to drive the performance so well. Given the economic and political uncertainty, our attention to detail on risk management and our experience in it continues to be critical. We continue to see healthy regulatory engagement around the world, we know that these relationships and our reputation with regulators is critical for our business. All in all, a great performance, I'm delighted to be upgrading our outlook for FY 2023 to NOI of between AUD 215 million-AUD 222 million, and underlying EBITDA of between AUD 62 million-AUD 67 million. Moving to slide six. The addition of Firma has been a great success thus far. Full credit must go to the Firma team, who over several years put in place a strong operating model that is now beginning to deliver exceptional results. Revenue for the full year to 30 September 2022 was a record AUD 68.2 million, up over 30%. That compares to the CAGR between FY 2018 through FY 2021 of 2%. They delivered this increase through a series of critical steps in prior years and benefited from the volatility of the markets also. The average transaction values grew over 14% in the year, driven by market volatility and the supply chain and inflationary pressures. Firma's early efforts to provide an online platform have been successful, with penetration of revenue from online clients nearly doubling in the last year. This ensured that transactions per active client grew just over 11%. Finally, Firma's commercial teams provided exceptional support to their clients. I've now had two visits to Canada in the last six months. The team are very experienced, client-centric and hungry to grow. A great fit for OFX, and it means they can achieve healthy NOI margins, which were 75 basis points for the 12 months to September 2022. Our integration team, comprising leaders across OFX and Firma, are driving an effective integration. The three focus areas are people, client experience and synergies. On the people front, we've had good engagement with voluntary attrition in line with Firma's experience in FY 2020. Slightly up on FY 2021, whilst voluntary attrition in the commercial team is actually down versus FY 2021. The product data and technology teams have been working hard to get a clear and consistent plan to migrate clients, and we will start that process in Q4 of this year. The synergies are on track to deliver AUD 5 million plus by FY 2025, with revenue from underlying performance exceeding our expectations in FY 2023, whilst revenue and cost synergies are progressing well. We will have a better picture of potential upside once migrations take effect in FY 2024. In all, very encouraging indeed. Turning to slide seven. As mentioned, turnover of AUD 19.9 billion was up nearly 33% versus the prior corresponding period, which is excellent. It was also terrific to see first half 2023 up over 9% versus second half 2022. We'll unpack the drivers of turnover later, but suffice it to say there is strength in all key areas, including elevated Average Transaction Values, that certainly helps. The strength too in transactions per active client. NOI of AUD 105.3 million, up just over 53% was outstanding, driven by the contribution of Firma, but also by the continuing hard work we're putting in on managing our costs that arise from revenue. Bank fees and commissions. Selena will touch on treasury revenue and interest income later also. Finally, the underlying EBITDA, AUD 32.3 million, up over 59% versus last year, and up over 33% versus second half 2022, was also outstanding. It reflects a very healthy company with good fundamentals. In addition to being a very strong result, it's great to see on Slide 8 the strength in the portfolio, and in particular, our corporate and high-value consumer segments, which represent over 90% of our revenue. I'll go through each segment in detail later, but here is a brief summary of the segments on one page. Firstly, our corporate segment delivered revenue growth of 98.2% versus first half 2022. Ex Firma, it was up nearly 20% on the prior corresponding period, but flat versus second half 2022. Noting that second half 2022 included some unusual transactions arising from COVID. That contributed to non-repeating revenue, as we have previously explained. Our high-value consumer segment has performed exceptionally well, growing 11.3% versus first half 2022 and 3.7% versus second half 2022. We've worked very hard to ensure we continue to deliver a best-in-class product and service for our high-value consumer clients everywhere. Our online seller segment was slightly up versus first half 2022 and slightly down on second half 2022. Ex Asia, it grew 6.9% versus first half 2022 in mixed conditions. We continue to see strength in North America, opportunity in EMEA, and challenges in Asia. Our enterprise segment had a disappointing half, with revenue down 1.6% versus first half 2022 and down 7.4% versus second half 2022. Whilst the overall contribution of enterprise is still relatively small at just under 3%, we expected more, we'll break this down further later. Moving to Slide 9. It's wonderful to see that as a global company, all our regions are performing so well, with each growing revenue double digits versus first half 2022 and each growing versus second half 2022. Notwithstanding the second half of 2022 had some unusual revenue arising from COVID. North America was the standout, delivering 117.2% revenue growth, including Firma, or 17.2% excluding Firma. We remain incredibly encouraged and committed to the region, with the Firma acquisition giving us scale and earnings, a strong team, and strength in Canada. Consumer and online sellers are also performing well, supported by prior investments and aided by some volatility and a strong US dollar. EMEA was also very good, growing revenue 26.9% in what continues to be a difficult economic environment, with inflation and political uncertainty all affecting consumer and corporate confidence. They're in good shape to grow further in the second half 2023, our European license creates opportunity for further expansion. In APAC, it was also a good first half 2023, with revenue up 15.4%. Australia and New Zealand performed well, growing over 15% in first half 2023 versus first half 2022, whilst Asia grew over 8%. It's been challenging for our clients, who are largely importers, with such a low Australian dollar. This has been offset by the volatility driving a strong consumer performance. Moving to Slide 10. We've shared previously that our corporate segment is valuable for its strong growth, strong returns, and client loyalty to OFX. We've grown our investment in this segment considerably in the last two to three years, it's wonderful to see the progress during the half. Corporate now represents more than half of our total revenue. We grew revenue over 98% in the first half versus the prior period, every region delivered strong double-digit growth, with North America being the standout at 251% growth versus the prior period, including Firma. It's also terrific to see EMEA growing just under 60% off the back of a very strong commercial team, sound risk management, and good execution. APAC also grew over 28%, despite being the most mature region and operating in a fiercely competitive market. Similarly, it is a sign of great health when both transactions and ATVs are growing well. As I mentioned earlier, the ex Firma portfolio declined slightly first half 2023 versus second half 2022, largely due to transactions and AUD 1.3 million of revenue associated with COVID, which occurred in the second half of 2022 but did not repeat in the first half of 2023. This was also flagged in our first quarter 2023 trading update, excluding that, we've seen consistent growth in the OFX portfolio with a three-year CAGR of 12.7%. In our fiscal year 2023 outlook, we've assumed ATVs remain at first half 2023 levels due to the combined effect of volatility, supply chain challenges, and labor shortages not showing signs of abating. I will discuss later our competitive strength heading into a different economic cycle, I do want to emphasize here that this portfolio is well-positioned. We are represented across a diverse range of industries. We have exceptionally good service. We're global, we can manage price. There is considerable investment being directed at improving our commercial platform, as well as providing better risk management capabilities for our clients. Fair to say, we are delighted with the progress we've made and especially the trading and operational excellence we demonstrated through the pandemic. Moving to slide 11. We're delighted to see such a healthy high-value consumer segment winning that rebound that we were targeting. With revenue up over 11%, with particular strength in North America growing over 20% versus the first half of 2022. We're more convinced than ever that our sweet spot is consumers who value that combination of a great digital platform, great prices, and great service, including human interaction when it's required. We saw ATVs maintaining high levels at nearly 21,000 as consumers managed their assets with our help. We saw the return of salary transfers and mortgage repayments as substantial use cases. Our outlook assumes ATVs moderate down to between 19,000 and 20,000 in the second half, given we can't predict volatility. That is higher than the long-term average, primarily due to inflation, as well as our marketing programs targeting higher-value use cases. Our high-value consumer segment is at its best when clients need us the most, such as during crises. When the combination I spoke of earlier, along with our banking support, means that unlike some of our competitors, we remain open to business and able to support them. Moving to slide 12. This is the third year since we announced a deliberate and targeted focus on the online seller segment. Whilst it's disappointing to see revenue roughly flat, it's encouraging to note that the progress we've made in our platform and our regions excluding Asia, and to see revenue margin grow four basis points versus the second half of 2022. It's well documented that e-commerce and other online sales have been up and down over the period. As consumers tighten spend off historic highs and retailers and service companies struggle with supply chain challenges which impact inventory, inflation, and increasing risk in currency exposures. Our response is to strengthen the core. A further investment in our platform, increased focus on risk management whilst adding more value for our clients, more currency, better pricing, and faster payments. We've previously announced incremental promotional expense targeted this segment in North America, and this has been gaining traction, with registrations up 29.5%, which augurs well for future performance. I visited Amazon in Seattle in the last few weeks to discuss their PSP program, as well as their broader views on e-commerce and technology. I left feeling significantly more encouraged by the partnership and our direction. Turning to slide 13. The first half was a mixed story in our enterprise segment. We saw revenue decline slightly as one of our longstanding clients saw share trading activity decline. We're also seeing slower activation of our recent wins than anticipated. This is largely due to the challenges larger companies face in adjusting to the new economic environment and particularly in getting new technology programs up and running. What is more encouraging is the pipeline. In the last six months, our pipeline has grown, with prospect meetings up and 71 opportunities now in the pipeline, up from 48 in the first half of 2022. Our commercial team has pivoted its focus from larger prospects to smaller and mid-size prospects because they see greater traction and speed to activation, and every region is contributing. It was great to win our first enterprise deal in Asia, which is already activated. We see more competition in this segment, but think it'll be a very strong part of our OFX over the next several years as we continue to provide clients with a strong global platform, superior risk management, exceptional service, and strong account management. As we'll touch on later, it also very much plays into the strategy of being a value-added specialist. Moving to slide 14. We always share the drivers of our turnover so that investors can see what is happening in more detail. In this presentation, we've broken it down further to help explain how the portfolio operates. Beneath that, we saw a pickup in active clients during the half, an improvement in the transactions per active client, excluding the offshore share purchases we saw in the first half of 2022, and ATVs remain elevated. When we break that down, our consumer portfolio saw active client growth, transaction growth, ATVs slightly down on the first half of 2022, but still elevated, and improved fee and trading margin, which drove turnover of just over AUD 5 billion in the first half. Our corporate portfolio also saw growth in active clients and transactions, but then also growth in ATVs, primarily due to the addition of Firma, driving turnover of AUD 11.5 billion. This breakdown between the portfolios illustrates the value of our corporate portfolio. Around a fifth of the total active clients drive around 60% of the turnover at healthy margins with high recurring revenues. Turning to slide 15. As we continue to operate in an inflationary environment, investors are naturally concerned about the effect it may have on our growth and returns. Selena will walk you through the detail on our financial results in a moment, but I want to share a very critical lever, our ability to manage margins. The charts show you how we've managed our NOI margin over time. We have always said that at a group level, even as we grow corporate as a proportion of our total revenue, we will maintain stable NOI margins. The chart on the left shows that over the last couple of years. With the onset of inflation, higher interest rates, and the addition of Firma, we are actually growing our NOI margins. The chart on the right shows how. Firstly, we've been investing in more sophisticated price programs for many years, and we watch the market very closely and are always looking for opportunities to get a reasonable price for a reasonable service. As volatility increases and we remain open, stable, and resilient, whilst others don't, we can get a little more price. We also see improved interest in treasury income as rates go up and volatility increases. Finally, our Firma team is very much a service-led proposition, and whilst they are significantly cheaper and better than banks, they are slightly higher priced than OFX. This combination is very valuable, especially in an inflationary and rising rate environment. In all, a very good first half. Now let me hand over to Selena to walk you through our financials in more detail. Thank you, Skander. Moving to slide 17, we have driven a record financial result. We have growth across all regions and are delighted with the contribution from Firma. We closed the transaction on the 1st of May for all subsidiaries, with the exception of the U.K., which closed on the 1st of September. Fee and trading income or revenue was up 49.9%. Of AUD 110.9 million, Firma contributed AUD 27.2 million, which is an excellent performance for five months of trading. We saw growth in all regions, and the corporate and consumer segments were up 98.2% and 11.3% respectively. The Australian dollar has weakened during the half, moving from AUD 0.74 in March of 2022 to AUD 0.67, and has strengthened against the pound, moving from GBP 0.56 to GBP 0.59. For the first half of 2023, 41% of our revenue is from North America and 13% from EMEA. The revenue growth rate of 49.9% when adjusted for constant currency, is more like 49.2%. Net Operating Income was up 53.4%, which is a higher growth rate than revenue as our bank fee and commission ratios held, whilst we also had a benefit of AUD 1 million from interest and other income. Rising interest rates have allowed us to make some interest on the cash we hold. Our clients value speed, so our treasury function is critical in providing liquidity and security, enabling fast and low-cost payments. Interest income is a nice upside to moving money through our accounts, but we will not prioritize this over the speed of payments. Our underlying EBITDA is AUD 32.3 million, up 59.4% on the first half of 2022 and 33.2% on the second half of 2022. A record for OFX. The strong trading conditions, higher ATVs and volatility all produce excellent fee and trading income. Whilst our investments in risk management, pricing, and client experience meant we delivered an EBITDA margin of 30.7%. Our tax rate for the first half of 2023 is 23%. In fiscal year 2024, we will no longer benefit from the Offshore Banking Unit tax regime. We're expecting a tax rate in fiscal year 2024 to be approximately 29%. Our statutory net profit after tax is AUD 14.7 million, up on both the first half of 2022 and the second half of 2022. There are one-off costs of AUD 5.4 million, including the statutory net profit after tax for the transaction and integration costs of the Firma acquisition. There is a healthy AUD 92.9 million of net cash held, up AUD 29.8 million on the first half of 2022 and up AUD 8.7 million from the second half of 2022. Moving to slide 18, our underlying operating expenses are AUD 73 million, up 50.9% on the first half of 2022. You will note that we are now 712 FTE as an organization, up 257 since March of 2022. We welcomed 174 Firma employees into the OFX Group, and we have continued to invest in technology, up 41 FTE, and the sales and marketing resources are up 24 FTE. It's great that we're able to attract talent in what remains a competitive market through our growing reputation, track record, and strong financial position. Promotional expenses for the half were AUD 9 million, up 13.8% on the first half 2022. NHL partnership started in the second half of 2022. We continue to invest in marketing where we see the demand, which generally increases during volatile periods. Technology expenses of AUD 5.2 million were up 36.1%, driven by a shift to Software as a Service infrastructure from owned. This approach better supports risk management, payments, and client onboarding because we benefit from global technology firms' investments at scale. This is us investing solely for a relatively smaller benefit. We are exceptionally pleased with the bad and doubtful debts in FY 2022. As we outlined at the time, we did not expect this trend to continue given the industry fraud levels. Most of the bad and doubtful debts in the last half were from North America, where we're seeing a lot of smaller transactions being pulled back from transferring banks due to insufficient funds. This marks a shift in the pattern of fraud we see, away from identity takeover fraud to money mules and bad actors deliberately exploiting the U.S. and Canadian banking loopholes. As you can see, the AUD 1.2 million of bad and doubtful debts for the half is still well below historical levels when you compare it to the revenue for the business. We will continue to focus on keeping losses as low as we can. Other expenses are up AUD 4.4 million, up 95.3% on the first half 2022, driven by Firma and travel as normal business operations have returned. Turning to slide 19, we continue to have a strong balance sheet. Our net cash position is AUD 92.9 million, which is both cash held for own use and deposits due from financial institutions. As mentioned, this is up AUD 8.7 million from March 2022. We hold some of this cash as collateral for our trading lines and bank guarantee. Collateral and bank guarantees were AUD 49 million, up AUD 7.4 million from March 2022. This is due to Firma creating a higher need for collateral and the volatility meaning higher collateral calls from our trading counterparties, especially during September 2022. Net available cash is AUD 43.9 million. Our derivative financial asset of AUD 145.8 million and liability of AUD 124.2 million are higher than prior periods. You may remember that on the 30 September, the GBP was almost at parity with the USD. This caused our client positions to widen as we hedged these, and as we hedged these with offsetting counterparty positions, widened in the opposite direction as well. The net derivative position at 30 September was AUD 21.6 million, higher than the AUD 7.3 million in March, due to the addition of Firma, growth in the corporate portfolio, and volatility. Cash flows from operating activities is AUD 20.1 million, which is lower than normal cash conversion rate for OFX. This is due to two items. The first is changing the forward book. When our clients book a forward with us, revenue is recognized, but cash is not received until the forward matures. We may also need to call collateral from our clients and post collateral with our counterparties as rates move. These items create a timing difference between EBITDA and cash flow generation. We have been growing our corporate segment very deliberately, and as part of that, assisting our clients in considering simple risk management approaches such as forwards during these volatile times. As this volatility has materialized, clients have appreciated this and more forwards have been put in place, creating this larger difference. We are comfortable with this as we have established risk and credit processes and adequate lines with our counterparties to offset the forward risk. The second item relates to the one-off non-operating cost of AUD 5.1 million from the transaction and integration costs for Firma. We funded the Firma acquisition using debt. When the transaction closed on the 1st of May, we drew down on our AUD 100 million five-year facility. Due to the strong second half of 2022 and continued cash flow generation, we paid down AUD 18.5 million of the debt in the first half of 2023. The balance net of establishment cost is now AUD 78.2 million, and we continue to target repayment of the debt facility within four years, subject to no other value accretive growth opportunities emerging which require funding. As we stated when we announced the fiscal year 2022 results in May, we will use our excess cash to pay down our debt instead of paying a dividend. As such, there is no interim dividend for the first half of 2023. Moving to slide 20. Our intangible investment forecast is between AUD 15 million and AUD 17 million for the year, which is slightly different than our original guidance of AUD 12 million to AUD 16 million. Hiring technology staff has improved more than we expected, adding 54 FTE in the last half, many of which work on the development of our intangible assets. Our areas of investment are aligned to our strategy to become the world's leading cross-border payment specialist. Some of the delivery highlights for fiscal year 2023 are two additional currencies, the Japanese yen and the Polish zloty, being added to our global currency account for online seller and corporate segments. JPY is live and already being used by our clients. Faster payments and more straight-through processing. Our initial focus is on automation of allocation of payments, as well as our connectivity to our banks, thereby improving our ability to reconcile and move funds multiple times during the day. 80% of our incoming funds are straight-through processed, allowing us to increase the speed to move money for clients. Client onboarding to ensure the best onboarding experience while also maintaining managing risk and compliance. And client experience. We have gone live with a new and improved client relationship management system, which will allow us to better serve our clients by providing improved functionality and tools for our client-facing teams. Our investment historically has tracked just over 6% of revenue. Continued investment is required to ensure we remain contemporary and continue to improve our client experience, risk management, and scalability. I will now hand back to Skander to take us through the strategy and fiscal year 2023 outlook. Thank you, Selena, for that excellent coverage of our financial performance. In this section, I'll share with you our strategy as well as our outlook for fiscal year 2023. Turning to slide 22. We've worked very hard over the last three years in particular to get a deep understanding of what the opportunity is for OFX, where we want to play, how we can be distinctive, and if we execute against that, why will we be more valuable in the future. This slide summarizes that thinking. Firstly, our total addressable market, or TAM, is huge, with McKinsey estimating the total cross-border payments market at over AUD 130 trillion in turnover per annum. We have a small fraction of that, supporting just over AUD 19 billion in payments in the first half. We've targeted four segments of the AUD 130 trillion market that we see as being valuable and where we believe we can be distinctive. Corporate or SME clients who value great price, a digital plus human service, and the expertise of a specialist will typically do very well in uncertain economic environments. SMEs who operate primarily through e-commerce continue to be a growing part of the overall SME mix, and particularly over the medium term, we see strong growth from them through our online seller segment. We see more and more value in taking the complexity, cost, and risk of cross-border payments out for our enterprise clients who have an embedded cross-border payment in their organization. We also see global banks retreat from this segment due to the regulatory burden and the relative strength they have in lending and transactional banking for domestic firms. Consumers who value great rates and a digital plus human service delivery typically send larger transactions than consumers who value a purely digital platform or who send smaller amounts for remittance use cases. As consumers grow their cross-border asset holding or do more cross-border education and travel, we'll be there for them. Each of these segments will grow, it's our job to win disproportionately by being distinctive and executing better than our competitors. I've mentioned that our research tells us that at the heart of what clients in these segments want is a great digital platform supported by human service to provide expertise where it's valued. To execute that well, we've laid out those elements that we believe and clients have told us are most important. The winners will have a single global platform that provides a world-class payment experience, both in terms of the product and the service, supported by strong risk management and run by the best teams. We believe that by unlocking that opportunity through these segments with our execution, we can build an even more valuable company characterized by healthy revenue growth, high recurring revenue, strong EBITDA at attractive EBITDA margins that generates good cash flow. As we foreshadowed, we see the industry consolidating and see ourselves as well-positioned to participate in that. Turning to slide 23. I mentioned earlier that we see OFX being very well-positioned for the new economic cycle we are now in. Higher interest rates, inflation, and a heightened geopolitical change. We're obviously seeing inflation in our global economy, which continues to rise. Central banks everywhere are increasing rates in order to try and get it under control. That combination, higher interest rates and inflation, have not been evident in developed markets for more than a decade. It creates two particular effects in our industry. Firstly, being profitable is more important. Generating one's own cash is critical because borrowing is now a real cost and growing. It will also mean availability of debt will go down. For those companies reliant on debt or who don't generate meaningful profit or EBITDA, operating has become much, much more difficult. This is obviously reflected in their valuations, down around 70% in the last 12 months or so for those companies. Inflation is in fact somewhat of a tailwind for OFX. The ability to generate margin, as I touched on earlier, is critical here. We can only do that because our value proposition as a specialist is critical. We add value by being digital and human. Anyone can move money, but can you help your client reduce risk? Can you remain open and trading when they need you most? It's the strong foundations we have that come to the fore when inflation and interest rates rise. We're also experiencing a temporary disruption to supply chains, which is affecting all countries, all SMEs, and all consumers. That disruption shines a light on being a resilient platform that your clients can rely on. We can operate remotely. We can operate securely. We move money quickly. That combination is very, very important, especially for SMEs when their inventory is difficult to source and sell. Finally, as a result of higher inflation, higher interest rates, geopolitical uncertainty, and supply chain challenges, it's fair to say we've moved to a risk-off world. Investors understandably look for companies that have navigated these times before, have an infrastructure built for many cycles, not just good cycles, and governance and leadership that thinks medium-term, not just short-term. Our investments in the good times and risk management become a lot more valuable in difficult times. Turning to slide 24. This is a slide Mark Shaw, our Chief Operating Officer, shared and discussed at our investor day back on March 16th, 2022. I won't repeat what he said word for word, but I want to remind investors of how intrinsic this is to our organization. There is no great financial services organization that has survived more than one economic cycle that does not have a strong risk culture. OFX has this in our DNA. We were founded by people who grew up in treasury, and we have been operating in foreign exchange and payments since 1998. Through that time, we've had missteps, and there's no learning that happens without that. But today, we have a mature and rigorous program, and it breaks down across six main areas. We have partners who we can rely on, who share our risk appetite, tier 1 banks and enterprises we work with. We target clients and segments we understand and can add value to. We operate in geographies we can get comfortable with, and particularly as it relates to their laws and regulations. We offer products that provide value to our clients that are not so complex or opaque to them that they cannot understand them, and we answer their questions quickly and fully when they have them. Our processes are a blend of digital and automated where possible and first, and human, where we don't yet have the automation or digital aspect or where it's not valued. Finally, we operate through channels that we can understand and on platforms that share our risk appetite. In the middle of all of that is our culture and effectively our people. Starting with our board and moving down to our frontline, OFX is a risk management company dedicated to keeping our clients safe. Moving to slide 25. As I said upfront, I am delighted to upgrade our outlook for FY 2023 to NOI of between AUD 215 million and AUD 222 million and underlying EBITDA of between AUD 62 million and AUD 67 million. This reflects our performance in the first half and trading in the first month of the second half, as well as our forecast for the second half ATVs, as outlined earlier. I've shared the drivers of this performance, but I thought it would be useful to share what we see as the main potential tailwinds and headwinds to our outlook. The main potential tailwinds are foreign exchange volatility, which typically lifts ATVs and transactions, especially in consumer. High inflation will typically lift ATVs and create margin opportunities. The low AUD/USD does create a revenue upside as our portfolio revenue is now 18% in U.S. dollars. In terms of potential headwinds, we're seeing some signs of client stress and are managing it carefully. This is a known unknown, in the sense that shocks can be unexpected, and we tend to see it in credit losses. In the first half, we saw losses rise, and we've assumed they continue to rise in the second half. The incidence of cyberattacks is growing. We're investing more than ever, but we know that the bad actors feel very bold right now. If GDP growth does slow, that could affect the health of our clients' businesses, which could mean losses or just reduced transactions if they go out of business. With all of this said, we're delighted with the first half 2023 result, and our outlook for fiscal year 2023 reflects that. We're also delighted with the performance of Firma and remain on track to deliver more than 20% in underlying EPS accretion. Thank you for your time. Let me hand back to Sari for any questions. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up the handset to ask your question. Your first question comes from Seth Hoskin from Canaccord Genuity. Please go ahead. Thanks, operator. Hey, Selena. Hey, Skander. Thanks for the time this morning, and congrats on a good result. Just a couple from me, and just starting on corporate ATVs. Just firstly, a bit of confirmation. Does that 37,000 include Firma? Secondly, you called out a few things around supply chain and volatility and some other factors that are giving you confidence that that's going to persist. What level of visibility do you have on the components outside of that this may be more of a sort of structural change around inflation of goods being purchased? I suppose following on from that, one to two-year view, you're still expecting ATVs to normalize back down. 37,000, yes, that does include Firma in that result, which their ATVs are higher than the OFX ATVs. Even if you look at the corporate ATVs, even in OFX, they're still relatively elevated. What was the second part of the question, Seth? Sorry. I threw a few at you. Yeah. Around, I suppose, what's changed relative to six months ago that's sort of giving you confidence that they're going to stay at that level? You called out supply chain volatility, but is there a component of this that is just more structural around inflation, et cetera? I think it's a combination of all that, right? We are seeing them hold. We're seeing them hold through the half. We are seeing supply chain. We're also seeing a little bit of inflation. The more that we talk to our corporate clients and understand how they're trading, we are expecting them to hold at those levels. Cool. Thank you. Just stepping through the cash position again. Sorry, there are just a few moving parts in that. Did you say your available cash post your collateral is AUD 43 million, up to AUD 67? If we go through cash, I'll take you through it from the top, which is fine. You've got the AUD 67 million of cash held for own use, and then you add AUD 25.7 of that, which is deposits due from financial institutions, effectively term deposits. The total of those is AUD 92.9 million, which is our net cash. AUD 49 of that is used for collateral for our counterparties, and we also have a bank guarantee for a lease. The net available cash, when you take the AUD 92.9 less the AUD 49, you get to AUD 43.9. Great. Thanks. That's helpful. Your net debt position, AUD 35 million, actually available that you can use. Yeah, when you look at net debt, yeah. Following on from that, in terms of cash conversion over the next 12 months, there's obviously a few moving parts around working capital. Do you expect cash conversion to improve over the next 12 months? Well, if you look at some of the cash conversion, if you look at some of the items in the cash conversion, we walked it for you on slide 19. We are expecting a refund on tax payments, and some of that tax payment was also the Firma tax payment, and we had cash on the transaction for that. That tax payment should go down. The change in the forward book, some of those forwards, the cash should be collected, so that should also be less of a cash drain. The one-off non-operating expenses, the large majority of that was to transaction costs on Firma, which are now done. We do have integration costs going forward, but it'll be less than that amount. The cash conversion should be better in the second half than the first, given all those items. Thank you The operating cash conversion. Thanks, Selena. That's really helpful. Then just one for Skander, hopefully. Just on the corporate business, you called out GDP and how that can have an adverse effect, and you're starting to see a few signs around the edges of that coming through your corporate customers. Could you just talk through potentially some previous experiences and how slowing or negative GDP can flow through into your corporate book? Yeah. What we've seen in the past is that if you are exposed to SMEs who are in industries that experience severe downturns, for example, if there was a severe downturn in manufacturing or some service industries, then obviously the performance of those particular SMEs is going to be affected, and they may reduce their transactions because they're just trading less. If you have SMEs, like I pointed out in the online seller space, who are exposed to retail and consumer discretionary spend goes down, they can be affected in the same way. When GDP goes down, obviously for those SMEs who are serving industries or consumers that are affected, that's what can affect transactions. The good news is, when you look at our distribution of industries, it's actually very broad and so is Firma. We don't have a particular kind of overhang on a particular industry or a particular geo. That's why we feel pretty good generally. You have to just keep a weather eye on the way that could turn out, that's why we've called that out. Thanks, Skander. Thanks, Selena. Congrats on the result. Yeah. Thank you. Your next question comes from Lafitani Sotiriou from MST Financial. Please go ahead. Good morning, team, thank you for my questions. I would like to kick off with Firma. Is it possible to get a rough ballpark of what the underlying EBITDA contribution for Firma was for the first half? Yeah. What we've given you is, we've obviously given you the net operating income for Firma, which is absolutely excellent. It's AUD 26.7 million. It's actually really hard to split out EBITDA because the two businesses are operating together. I thought so. And so- Ballpark-ish. Do you have a rough number? Because I expected there to be some shared costs or integration, so it would be harder to split out. Do you have a ballpark of what it was, roughly? I can give you what we've released before, which was their September last year actuals. They had AUD 51.9 million of revenue and AUD 10.9 million of EBITDA. You can see there what the cost structure is. That was on a 12-month basis. Half that, or take five months of that. We've obviously had some cost synergies, so it's slightly lower than that run rate. How about I ask it another way? For the first half Firma NOI contribution, you got AUD 26.7 million. I know that there was one month that wasn't included, but there was also some of the U.K. that wasn't included for a longer period. If we were to gross that up, what would that NOI number be for the first half? Yeah. NOI of AUD 26.7 is effectively five months of trading for Firma. While the U.K. we didn't acquire until the 1st of September. There was a management fee because we were running effectively the back end of that business until that sale occurred, which came through other income, which is in the NOI line. It's not that much different, the U.K. in or out, coming 1st of September. I would take, assume that the Firma number is effectively Just gross it up by another month the five months number. Yep. Okay. This is a huge result in Firma, I just want to better understand the dynamic, because obviously when you made the acquisition, you called out a few value adds that you were going to deliver and some gaps that they had with some of the licensing, that value you could bring across. The uplift has already happened. If you were to attribute the mix of the uplift, how much of it is the market dynamic and how much of it were there some early wins of you guys being on board and adding digital or other things to the mix? Maybe, Laf, I could tackle that. I asked this question when I was in Canada in October of all of the team over there in various round tables, because I kind of figured there might be some reaction or some questions around this. This is kind of the way I would summarize it. There is a series of compounding effects that are going on here. It starts off with volatility, and there is no question that volatility kind of lifts all boats. The business is moving faster because of that external piece. Here are the sort of multiplicative aspects. One is relative to other cross-border payment companies serving SMEs. Firma has a very kind of service-led proposition. When you get volatility, typically clients go to service companies before digital companies to kind of get that support that they want and they need. Firma, relative to other companies in that space, have done very well, and they've been very successful in presenting risk reduction as part of the value proposition. The third thing is that they have been investing in prior years in putting in place their digital platform. You could see in that result, a significant, 100% increase in online penetration. Which has meant transactions per active client is going up at a record rate for Firma. The final thing is, in times like these, they are also exceptionally good at getting margin. What they've done is if you look at their tenure, it is now up over seven years. When I talk to folks in roundtables there, particularly their traders, one of the comments that was made to me was, "I feel a lot more confident now talking to clients and understanding price." Than I did two or three years ago. It is arrived at a very, very good time, that tenure. Because voluntary attrition was down in the commercial teams, they really did a nice job. There was also a little bit of a tailwind because one of their major competitors fell over a couple of years ago, and they had picked up a bunch of new clients about 18 months ago. The short answer is, what we've been doing is keeping close, supporting them. We haven't been in there kind of driving policy changes. We've obviously been getting close to their sales teams and encouraging them. We have not been turning anything off whatsoever. We are working very heavily towards the integration. Really largely, the Firma team deserve all the credit for the hard work and the progress. They are very excited, candidly, by the sort of changes that are coming with respect to their ability to sell from the U.S., to sell more through the online platform. Hopefully that unpacks it a bit for you. I've got it. Why don't I move on. Just moving to some of the FTE increases over the last year and excluding Firma from this. 54 new tech and 40 odd new sales is a meaningful increase. Can we just talk a little bit about what the expectations are of the medium term for this increase in headcounts? From a technology perspective, are you anticipating better efficiencies or margins? Or are you anticipating getting more share of the wallet from some of these corporates and for the sales and marketing, that's quite a huge increase. Should we anticipate higher sustained growth rates over the medium term? Yeah. Most of the technical ads are working on things like platform resilience. Making sure that everything that we do is very, very strong. And believe it or not, that actually has an effect on number of transactions because clients feel confident transacting with you, especially during volatile times. Things like our pricing engines, things like our risk investments that help us in managing our loss exposure. Certainly we have been investing heavily, for example, in enterprise integrations. All of those things are very much on our product roadmaps. Selena touched also on our customer management solutions. That tends to show up on more transactions for active clients because it's a lot easier to remain engaged. When I look at, for example, reactivations in the first half, they were significantly up. That's really testament to our CRM programs, which are technology investments. They show up in lots of different ways. Obviously, Selena also touched on faster payments. In the past, we've shared things like adding new currencies and partners. That tends to show up as more transactions or better margins. All of those things are the way we think about intangible investments in technology. Okay. Why don't I move on to the guidance. Can I just clarify, the guidance includes Average Transaction Values for consumer dropping a little bit, but for the corporate book being largely in line with the first half. Is that correct? Yes. Okay. Can you just remind me, is second half traditionally, seasonally a stronger half for OFX? Historically, yes. I just would hesitate the word seasonal. Historically, you can look at second half and compare it to first half, there's no, let's call it seasonal reason for that. It's not like because in the northern hemisphere, they're celebrating spring or something like that. It just seems to be that over the history of OFX, the second half has been slightly higher than the first half. Selena and I have always been quite circumspect about that. We don't bank it. We don't put it in as a given. Our sales teams and our client service teams have always maintained close contact, there's no specific reason why we seem to trade a little bit better in the second half. It's not just trade a little bit. If you look at the last three years prior to this year, we're looking at 30%-40% higher second half, first half on average. There's a meaningful tilt, but you're saying there's nothing specific, but even if there isn't, right? Go on. The last quick one. You may remember, it just so happens coincidence that some of the highly volatile events in the last few years have happened in the second half. Yeah. For example, the Brexit votes that created some huge volatility for a couple of years there. They always happen in the second half. COVID. The other one is COVID. That happened in March of 2020. It just so happens by coincidence the high volatile events have happened in the second half. We don't know whether that will repeat or not. Pardon me. Okay. This is Aria, operator. You could have one last question, Mr. Sotiriou. Yeah. Okay. I'm just finishing this question. I've got one more. If you look at the guidance then, if you largely double it, if there's seasonally, it's at least not going to be weaker. There's probably another AUD 1 million odd EBITDA from the Firma component that you did normalizing that for the full 12 months, that kind of gets you to the upper end of guidance. If there is a seasonal impact, you could push up ahead of the revised guidance. I'll just park that. In terms of the commentary around M&A, can we just go into what your capacity is, given you're in the middle of a pretty big integration with Firma? We can see from the balance sheet there's some capacity to do another one. Are there many opportunities you're looking at? Do you think you could do a bolt-on in the next year, or are you pretty tied up with Firma? Look, there's certainly opportunities, as I've always said, it's one of those things where you don't always get to choose. Sometimes you just have to be patient, you've got lots of capacity, you just don't do any transactions because they're not well-priced, or they don't have a good fit. Other times, things are extremely busy, you've got a great price and a great fit. You have to kind of make capacity. Within reason, we obviously have to manage existing commitments, particularly the Firma one. Look, the position of the board and the management is we'll look at every opportunity, we'll just assess it around what's the kind of medium-term value that we can extract. What's the EPS accretion that seems reasonable? We'll make a position. There's no question right now that, as I said, consolidation, particularly for those companies that are not as capable to withstand the next two or three years, is happening. We have to remain alive and aware, there's been a lot of lessons coming out of Firma that we can leverage into transactions going forward if we choose to. There is capacity. You're not going to not do a transaction because of having Firma on your plate. Correct. All right. Thank you, guys. Congratulations on a good result. Thanks. Thank you. Jon, next question comes from Cameron Hockett from Wilsons. Please go ahead. Thanks, operator. Hi, guys. Thanks for giving me the chance to ask a question. I'll be really quick and just do one. I suppose EBITDA margin post-Firma was always targeted to around 30%. You've been there the last few halves, and obviously, there's a few things driving that with elevated ATVs and things, but you've also done some really good work with Firma. I suppose, what's your message to investors and to the market about how you think about that EBITDA margin target of around 30%, whether that's something you stick by today or that might be a bit conservative just given how well things have gone? Thanks. What we've always said, Cameron, is that the long term should be 25%-30%. There'll be some halves and some quarters where it's better than that. We certainly shouldn't be too much less than that at any point in the cycle. We've got to be a bit careful because at the moment, obviously what we've been doing is being very thoughtful about pricing, and we're getting good price. We're being very thoughtful about expenses, particularly on the Firma side. The EBITDA margin is very healthy. Other times, we'll be investing, and it won't look so good. Long term, it should definitely be in that sort of range. Especially for a company like ours that is mature, that has enough scale, that's kind of the way Selena and I and the board think about it. Nice one. Thanks, Skander. Thank you. That does conclude our Q&A session. I'll now hand back to Mr. Malcolm for closing remarks. I just close by saying thank you all for joining. We're obviously delighted with the result, and we're very focused on the Firma integration as a big priority. In the meantime, we're seeing our competitive strength rise. We will continue to keep you updated on developments from here, thanks very much for your time.