Afterpay Announces FY20 Business Update

Afterpay Announces FY20 Business Update

PR Newswire

SAN FRANCISCO, July 13, 2020

SAN FRANCISCO, July 13, 2020 /PRNewswire/ -- Afterpay Limited (ASX: APT) is pleased to announce business performance for the three month period ended 30 June 2020 (Q4 FY20) and the financial year ended 30 June 2020 (FY20).

Afterpay Logo

KEY HIGHLIGHTS1

1.  OUR PEOPLE

COVID-19

ENHANCING TALENT AND CAPABILITIES

2.  TRADING UPDATE — Q4 AND FY20

GLOBAL (A$)

(unaudited)

Q4 FY20

Q4 FY19

Q4
Variance

 FY20

 FY19

Variance

UNDERLYING
SALES

 3.8b

 1.7b

127%

11.1b

5.2b

112%

ANZ

 2.0b

 1.3b

57%

6.6b

4.3b

52%

US

 1.6b

 0.4b

299%

4.0b

0.9b

330%

UK

 0.2b

0.0b

na

0.6b

0.0b

na

 

GLOBAL (unaudited)

AS AT 30 JUNE 2020

AS AT 30 JUNE 2019

Variance

ACTIVE CUSTOMERS

9.9m

4.6m

116%

ANZ

3.3m

2.8m

18%

US

5.6m

1.8m

219%

UK

1.0m

0.0m

na

ACTIVE MERCHANTS

55.4k

32.3k

72%

ANZ

42.8k

28.4k

51%

US

11.5k

3.8k

202%

UK

1.1k

0.0k

na


 NOTE: CHANGE CALCULATIONS MAY NOT EQUATE DUE TO ROUNDING.

3.  CUSTOMERS AND MERCHANTS

NEW MERCHANTS

Key merchants that went live or contracted during Q4 FY20:

EBAY AUSTRALIA

QANTAS FREQUENT FLYER

4.  GLOBAL EXPANSION

NEW MARKETS

US IN-STORE

5.  INNOVATION

6.  REGULATORY UPDATE

AUSTRAC

BNPL CODE OF PRACTICE

RBA SURCHARGING REVIEW

GOVERNMENT POLICY UPDATE

US REGULATORY MODEL

7.  CAPITAL MANAGEMENT UPDATE

Afterpay CEO Anthony Eisen commented:

"Today's announcement is the outcome of a lot of hard work and unwavering commitment by a world class team. Our ability to achieve such positive operating metrics in the current environment, is a product of our purposefully differentiated business model and our loyal customer and retailer base.

"Given the ongoing impacts from COVID-19 and the uncertain global economic conditions, we have continued to focus on preserving capital and maintaining a strong balance sheet.

"The flexibility in our business model allowed us to manage risk when we needed to, but also take advantage of positive customer sentiment and behaviours. Our ongoing investment in growing our retailer and customer bases, and global expansion objectives, will ensure we continue to deliver long term benefits to our shareholders."

1 All currency figures are in Australian dollars unless otherwise stated

2 Significant items include expenses related to one-off items, share-based payments and foreign currency gains or losses which are still being finalised. In FY20, foreign currency gains may be higher than prior periods due to favourable foreign exchange rate movements in the period.

3 Active customer is defined as having transacted at least once in the last 12 months.

4 Active merchant is defined as having transacted at least once in the last 12 months.

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