Sunday 15 July 2018

AEONCR 2018 Annual Report + 1st quarter 2019 financial report


Today let's have a look at AEONCR 2018 annual report.

 First,
the past 5 years performance:
It is definitely a company which worth to be putting attention at,
since the revenue and profit grew every year.

 The product segment of AEONCR:
The three key products are Personal, Car and Motorcycle financing.

 The operational review by management:

Seems like the financing of "Moped" category of motorcycles was key driver of growth.

 The company also tightened credit policies of car financing,
that's why lower growth in this segment.

 For the card business:

Not bad,
more than 10% growth.

 The prospects for this year:

This year mainly will be the branch transformation,
web application and self-service terminals.

 Also,
a new accounting standard will be applicable in this year.
According to what was told above,
it will result in earlier recognition of credit losses on receivables and decrease in opening retained earnings.
Hmmm.............

 This made me started to worry about the financial performance of this year.............

 Then the company also targeting lower risk profile customers,
how many percentage of market shares will they gain in this year?

 Also,
AEONCR just published latest quarter financial report:

Even though the revenue only improved by 7.8%,
but since the Total operating expenses reduced by 6.4%,
so overall the profit growth was good.

 Well....
we shouldn't be happy too fast,
just like what mentioned above,
after applying new accounting standard,
the Retained earnings:

Around 1/3 were gone..............

 Comments by management:

NPL dropped to 2.26%,
and the ratio of operating expense against revenue dropped from 58.2% to 50.6%.

 Prospect for this year:
Still the same messages like based on the scheduled implementation of business plan,
the company expects to maintain its financial performance.

 That's all for the latest financial report.

 Investment is about doing own thinking, making own decision.

 Thanks for reading.

I don't provide any buying/selling suggestion above,
please make your own investment decision and be responsible with it.
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