Cash Converters

We've had an incredible 2024, we're deeply proud of the hard work and passion shown by the entire Cash Converters team. Happy New Year, we're excited for what 2025 has in store!

Back in 1984, our founder Brian Cumins started Cash Converters as we know it today with just two employees in Victoria Park, WA. Now, we have more than 1,500 employees in Australia and over 660 stores worldwide. Thank you to our corporate and franchise teams, past and present, across the network for this incredible journey. We could not have done this without you.

We're happy to share that we are once again supporting the Hawaiian Ride for Youth! This incredible cause raises much-needed funds for youth mental health through Youth Focus, a WA-based mental health advocacy and service provider that works with young people up to the age of 25 who are struggling with their mental health. Our team of six Cashies will be cycling the 700km route from Albany to Perth. If you'd like to donate to Youth Focus visit our team page (link in comments). Intensive training has begun to get ride-ready and we wish the team nothing but the best for the months ahead.

Today we recognised R U OK? Day, a movement that's close to our hearts. Across the country, we talked about how you can check in on someone any day, not just today. We were lucky to welcome Youth Focus speaker Brodie Mack who shared stories, told us about why it's so important to protect youth mental health, and some helpful takeaways that we can use day to day. We can make every day an opportunity to ask R U OK? and truly listen.

Across Australia, from stores to our offices, we were part of the Cancer Council's Biggest Morning Tea to raise funds for cancer research, prevention, and much-needed support for those affected by cancer. It's a cause that's very close to our hearts and we're so proud to have been involved, raising nearly $10,000 for the Cancer Council. The generosity of our staff is unbelievable! Thank you to everyone who donated.

After a tough but very rewarding week cycling 700km from Albany to Perth, stopping in at schools to talk to students along the way, the team arrived in Perth on Saturday morning with tired legs and plenty of stories.   Thanks to the Hawaiian Ride for Youth, overall there was $2,139,663 raised for youth mental health resources with Youth Focus. Congratulations to all Ride for Youth teams on a incredible result.

Today, our Hawaiian Ride for Youth team begin their 700km cycling journey from Albany to Perth in the name of raising awareness and funds for youth mental health and Youth Focus. Good luck to Sam, Lisa, Jonty, Sam, Ryan, and Peter - we are behind you every kilometre of the way.

In a week's time, our Hawaiian Ride for Youth team will embark on a 700km journey from Albany in WA's South West to Perth - all in the name of raising much-needed funds and awareness for youth mental health. We held our own Tour de Cashies where we aimed to reach 700km in both Head Office and the Brisbane Office, with the help of Stores, purely by using pedal power. That's 1,400km! If we reached the goal we'd add a donation to the team. We are so proud to share that not only did we reach the goal but we doubled it, raising $12,500 for Youth Focus and youth mental health. If you'd like to donate before the ride next week, head to our team fundraising page: https://lnkd.in/gxZP5khx

Happy International Women's Day to the incredible women in our business. We are proud to inspire inclusion here at Cashies, not just today but every day.

Cash Converters International (ASX:CCV) - Rejuvenated and growing Research as a Service (RaaS) initiating coverage of consumer finance group Cash Converters International (ASX:CCV) with a DCF-based valuation of $0.40/share, representing capital upside of 82% with a fully franked 9% yield. We also welcome Graeme Carson to the RaaS team. Graeme will pick up coverage of stocks for us while still running the Cyan Investment Management Small Cap Fund. CCV has faced both company specific and industry headwinds involving litigation and regulatory scrutiny, but it has worked through those and evolved into a highly regulated, well-run profitable business with a clear strategic direction and multi-layered growth opportunities.. We expect that CCV will increase its FY23 revenue base of ~$300m through a strongly growing loan book in both personal and vehicle finance products and the acquisition of previously franchised operations, both domestically and internationally. This is forecast to result in increased EBITDA from $57m to $87m over the next three years, at a compound annual growth rate of 15%. Our DCF valuation of $0.40/share is further validated by additional sense checks with a ROE-based methodology deriving a valuation of $0.56/share and a relative PER peer valuation of $0.50/share. #consumerfinance #initiationofcoverage #retail #growth Sam Budiselik