Core Insights - Mr. Mavroudis is a professional portfolio manager with expertise in institutional and private portfolios, focusing on risk management and financial market analysis [1] - He has successfully navigated major crises, including the COVID-19 pandemic, demonstrating resilience and adaptability in investment strategies [1] - Mr. Mavroudis is the CEO of FAST FINANCE Investment Services, a registered Greek company, and holds multiple advanced degrees and certifications in finance and law [1] Company Overview - FAST FINANCE Investment Services is a registered company by the Hellenic Capital Market Commission, indicating regulatory compliance and credibility in the financial services sector [1] - The company specializes in restructuring investment portfolios based on prevailing market conditions and client needs, showcasing a client-centric approach [1] Professional Background - Mr. Mavroudis has published three books on investments and contributes articles to reputable financial media, enhancing his visibility and authority in the investment community [1] - He is a certified portfolio manager and holds various certifications related to financial instruments, derivatives, and securities, reflecting a high level of expertise [1]

Financial Data and Key Metrics Changes - In Q1 2025, the company facilitated RMB 35.15 billion in loans, representing an 8.8% sequential increase and a 63.4% year-over-year growth [4] - Total revenue reached RMB 1.94 billion, up 13.4% from Q4 and over 60% year-over-year, driven by higher borrower volumes and originations [5][9] - Non-GAAP adjusted net income for Q1 was RMB 457 million, a 44.9% year-over-year increase, with basic earnings per ADS improving to USD 1.5, a 45.6% year-over-year increase [11] - Return on equity increased to 25.5%, rising 1.4 percentage points year-over-year and 3.2 points sequentially [12] Business Line Data and Key Metrics Changes - The total loan outstanding balance, excluding loans over sixty days delinquent, reached RMB 58.4 billion, growing by more than 33% from Q1 2024 [9] - The company facilitated over 3,140,000 loans with an average loan amount of approximately RMB 11,181 [9] Market Data and Key Metrics Changes - The delinquency rate for loans 31 to 60 days overdue was 1.25%, down from 1.61% a year ago, reflecting a 22% improvement year-over-year [6] - The delinquency rate for loans 91 to 180 days overdue was 2.7%, down from 4.7% in Q1 2024, a 37% reduction year-over-year [6] Company Strategy and Development Direction - The company is focused on expanding opportunities through new partnerships and enhancing its technology platform and underwriting models to support profitability and scalability [4] - A new share repurchase plan has been authorized, allowing the company to buy back up to USD 100 million worth of Class A shares and ADS over an 18-month period [12] - The company remains committed to compliance with regulatory changes and views increased oversight as a positive step for long-term industry development [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current macroeconomic environment, indicating that it remains favorable for portfolio growth [20] - The company expects total loan amounts facilitated in Q2 2025 to be in the range of RMB 37.5 billion to RMB 39.5 billion, reflecting continued strong demand [14] Other Important Information - The company has been investing significantly in acquiring new customers, which is expected to support future growth [21] - Management noted that the risk profile remains stable, with no significant changes expected in Q1 or Q2 [26] Q&A Session Summary Question: Current macroeconomic environment and loan market outlook - Management believes the current environment is still good for portfolio growth and is focused on managing growth based on future assessments [20][21] Question: Delinquency rate concerns - Management acknowledged a slight uptick in delinquency rates but stated that the overall portfolio remains healthy and that any increases will be offset by overall scale [22][23] Question: Share repurchase program - Management indicated that no shares were repurchased in Q1 due to the closed window but plans to utilize the newly authorized repurchase program during the upcoming open window [28][29] Question: Loan growth guidance and credit demand - Management expects continued growth driven by customer acquisition and is confident in achieving a 30% volume growth for the year, despite potential regulatory impacts [40][41]

Financial Data and Key Metrics Changes - In Q1 2025, the company facilitated RMB 35.15 billion in loans, representing an 8.8% sequential increase and a 63.4% year-over-year growth [6][11] - Total revenue reached RMB 1.94 billion, up 13.4% from Q4 and over 60% year-over-year, reflecting strong borrower demand [7][11] - Non-GAAP adjusted net income for Q1 was RMB 457 million, a 44.9% year-over-year increase, indicating sustained earnings strength [13] - Return on equity increased to 25.5%, rising 1.4 percentage points year-over-year [14] Business Line Data and Key Metrics Changes - The total loan outstanding balance, excluding loans over sixty days delinquent, reached RMB 58.4 billion, growing by more than 33% from Q1 2024 [11] - The average loan amount facilitated was approximately RMB 11,181, with over 3,140,000 loans issued [11] Market Data and Key Metrics Changes - The delinquency rate for loans 31 to 60 days overdue was 1.25%, down from 1.61% a year ago, reflecting a 22% improvement [8] - The delinquency rate for loans 91 to 180 days overdue was 2.7%, down from 4.7% in Q1 2024, a 37% reduction year-over-year [8] Company Strategy and Development Direction - The company is focused on expanding opportunities through new partnerships and enhancing its technology platform to support profitability and scalability [6] - A new share repurchase plan has been authorized, allowing the company to buy back up to USD 100 million worth of Class A shares and ADS [14] - The company remains committed to compliance with regulatory changes and views increased oversight as a positive step for long-term industry development [15] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the current macroeconomic environment, indicating that the overall environment is still favorable for portfolio growth [24] - The company expects total loan amounts facilitated in Q2 2025 to be between RMB 37.5 billion and RMB 39.5 billion, reflecting continued strong demand [16] Other Important Information - The company has been investing significantly in acquiring new customers, which is expected to support future growth [24] - Management noted that the risk profile remains stable, with no significant changes anticipated in the delinquency rate in the near term [29] Q&A Session Summary Question: Current macroeconomic environment and loan market outlook - Management believes the current environment is still good for portfolio growth and is focused on managing the portfolio based on future assessments [24] Question: Delinquency rate concerns with loan volume growth - Management acknowledged a slight uptick in delinquency rates but stated that the overall portfolio remains healthy and profit will not be impacted [24][26] Question: Share repurchase activity during market volatility - Management indicated that no shares were repurchased in Q1 due to the closed window but plans to utilize the remaining funds in the upcoming open window [30] Question: Loan growth guidance and underlying credit demand - Management expects continued growth driven by customer acquisition and is confident in achieving a 30% volume growth for the year [41] Question: Feedback from funding partners regarding loan pricing - Management is in close conversation with funding partners about upcoming regulatory changes and is confident in compliance before the October deadline [38]

Financial Data and Key Metrics Changes - In Q1 2025, the company facilitated RMB 35.15 billion in loans, reflecting an 8.8% sequential increase and 63.4% year-over-year growth [6][11] - Total revenue reached RMB 1.94 billion, up 13.4% from Q4 and over 60% year-over-year [7][12] - Non-GAAP adjusted net income for Q1 was RMB 457 million, a 44.9% year-over-year increase [14] - Basic earnings per ADS improved to USD 1.5, a 45.6% year-over-year increase [14] - Return on equity increased to 25.5%, rising 1.4 percentage points year-over-year [14] Business Line Data and Key Metrics Changes - The total loan outstanding balance, excluding loans over sixty days delinquent, reached RMB 58.4 billion, growing by more than 33% from Q1 2024 [11] - The company facilitated over 3,140,000 loans with an average loan amount of approximately RMB 11,181 [11] Market Data and Key Metrics Changes - The thirty-one to sixty days delinquency rate improved to 1.25% from 1.61% a year ago, reflecting a 22% improvement [8] - The ninety-one to one hundred and eighty days delinquency rate decreased to 2.7% from 4.7% in Q1 2024, a 37% reduction [8] Company Strategy and Development Direction - The company is focused on expanding opportunities through new partnerships and enhancing its technology platform and underwriting models [6] - There is a commitment to improving borrower experience by delivering faster decisions and simplifying application processes [7] - The company has authorized a new share repurchase plan for up to USD 100 million worth of Class A shares and ADS [15] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the current macroeconomic environment, indicating it is favorable for portfolio growth [26] - The company expects total loan amounts facilitated in Q2 2025 to be between RMB 37.5 billion and RMB 39.5 billion, reflecting continued strong demand [16] - Management acknowledged potential regulatory changes but expressed confidence in compliance and the ability to adapt [43] Other Important Information - The regulatory environment in China is described as dynamic, with a focus on responsible credit assets and financial stability [16] - The company is actively engaging with regulatory authorities to ensure compliance with upcoming regulations [43] Q&A Session Summary Question: Current macroeconomic environment and loan market outlook - Management believes the current environment is still good for portfolio growth and is focused on managing growth responsibly [25][26] Question: Delinquency rate concerns - Management noted that while there may be some uptick in delinquency rates, overall portfolio health remains strong and profit will not be impacted [26][28] Question: Share repurchase program - Management indicated that no shares were repurchased in Q1 due to the open window policy but plans to utilize the remaining funds in the upcoming open window [36] Question: Loan growth guidance and credit demand - Management expects continued growth driven by customer acquisition and is confident in achieving a 30% volume growth for the year despite potential regulatory impacts [46]

Core Insights - Mr. Mavroudis is a professional portfolio manager with expertise in managing institutional and private portfolios focusing on risk management and financial market analysis [1] - He has successfully navigated major crises, including the COVID-19 pandemic and the PSI, demonstrating resilience in portfolio management [1] - Mr. Mavroudis is the CEO of FAST FINANCE Investment Services, a registered company by the Hellenic Capital Market Commission, indicating a strong regulatory compliance [1] Company Profile - FAST FINANCE Investment Services is a registered Greek company specializing in investment services, highlighting its credibility in the financial market [1] - The company focuses on restructuring investment portfolios based on prevailing market conditions and client needs, showcasing a client-centric approach [1] Professional Background - Mr. Mavroudis holds multiple advanced degrees, including an MSc in Financial and Banking Management, an LLM in Law, and a BSc in Economics, indicating a strong educational foundation [1] - He is certified in various financial disciplines, including portfolio management and derivatives, which enhances his expertise in the financial sector [1] Engagement and Contribution - By writing on Seeking Alpha, Mr. Mavroudis aims to engage with a community of investors and market enthusiasts, fostering knowledge sharing and mutual growth [1] - His daily articles and appearances as a commentator reflect his active involvement in the financial media landscape [1]

Investment Strategy - The company focuses on spotting high-potential winners before they break out, emphasizing asymmetric opportunities with an upside potential of 2-3 times outweighing the downside risk [1] - The investment methodology includes identifying high-conviction opportunities through leadership and management analysis, market disruption and competitive positioning, financial health and risk management, valuation, and portfolio construction [1] Leadership & Management Analysis - Proven track record in scaling businesses is essential, along with smart capital allocation and insider ownership [1] - Consistent revenue growth and credible guidance are critical factors for evaluation [1] Market Disruption & Competitive Positioning - A strong technology moat and first-mover advantage are key competitive advantages [1] - Network effects that drive exponential growth and market penetration in high-growth industries are prioritized [1] Financial Health & Risk Management - Sustainable revenue growth with efficient cash flow is a focus area [1] - Maintaining a strong balance sheet and long-term survival runway is crucial [1] - The company aims to avoid excessive dilution and financial weakness [1] Valuation & Asymmetric Risk/Reward - Revenue multiples compared to peers and DCF modeling are used for valuation [1] - Institutional backing and market sentiment analysis are considered for assessing investment opportunities [1] - Ensuring downside protection while maximizing upside potential is a priority [1] Portfolio Construction & Risk Control - Core positions (50-70%) consist of high-confidence, stable plays [1] - Growth bets (20-40%) are allocated to high-risk, high-reward opportunities [1] - Speculative investments (5-10%) are made in moonshot disruptors with massive potential [1]

Financial Data and Key Metrics Changes - The company reported a return on equity (ROE) of 20.3%, boosted by extraordinary gains from the acquisition of a joint venture stake, while the operating ROE was 18.4% [9][19] - Total assets contracted by 2% due to a revaluation of Bolivia's balance sheet [19][44] - Net interest income increased by 4.3%, driven by lower interest expenses and a growing share of low-cost deposits [21][44] Business Line Data and Key Metrics Changes - Loan growth was robust at 1.5%, primarily in wholesale banking, with expectations for retail segments to accelerate [20][11] - Non-performing loans (NPLs) ratio improved to 5.1%, with a cost of risk falling to 1.6% [20][46] - Fee income rose by 16%, supported by increased transactional activity [21][44] Market Data and Key Metrics Changes - Peru's GDP grew by 3.9% in Q1 2025, indicating a strong economic recovery [23][14] - Inflation remained low at 1.7%, supporting private consumption [24] - High-frequency economic indicators, such as car sales and imports, showed rapid growth, reflecting a positive economic environment [23] Company Strategy and Development Direction - The company is focused on modernizing core systems and expanding digital capabilities to enhance client journeys across various business lines [9][12] - Sustainability is integrated into the company's strategy, with initiatives aimed at financial inclusion and environmental risk management [13][98] - The company aims to achieve a structural ROE of 18% by 2026 while expanding access to financial services [98] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Peru's macroeconomic fundamentals and the potential for growth despite global uncertainties [5][15] - The company is closely monitoring global developments, particularly trade tensions and their potential impact on commodity prices [7][15] - The outlook for Peru's economy remains positive, with expectations for continued growth supported by private investment and recovering real wages [14][25] Other Important Information - The company announced a dividend payout of PEN 40 per share, reflecting strong solvency and long-term growth plans [12][22] - A one-off gain of approximately $236 million was recorded due to the revaluation of a previously held stake [13] - The company is committed to enhancing its risk management capabilities through ongoing projects [12][46] Q&A Session Summary Question: Guidance Update - The management indicated that while current conditions suggest potential for higher ROE, global uncertainties, particularly related to trade, prevent immediate guidance updates [56][60] Question: Cost of Risk and Model Revisions - Management noted that improvements in the cost of risk are due to a positive macroeconomic environment and adjustments in credit models, with expectations for continued lower costs [67][70] Question: Loan Growth Acceleration - Management acknowledged a lag in loan growth recovery but expressed confidence in an upcoming acceleration due to improved economic conditions and increased lending activity [72][78] Question: Sensitivity to Interest Rates - The company provided insights on its sensitivity to interest rate changes, indicating a minor impact on NIM from potential rate cuts [84][87] Question: Lending Focus and Opportunities - The company is currently focusing on individual lending while also considering SME lending opportunities in the future [92][95]

Group 1 - The stock has gained +117% over the last five years on the Nasdaq, indicating strong performance [1] - Mr. Mavroudis is a professional portfolio manager with expertise in risk management and financial market analysis [1] - The company, FAST FINANCE Investment Services, is registered with the Hellenic Capital Market Commission and offers a range of investment services [1] Group 2 - Mr. Mavroudis has successfully navigated major crises, including the COVID-19 pandemic [1] - He holds multiple advanced degrees and certifications, enhancing his credibility in the investment field [1] - The company aims to engage with a community of investors through platforms like Seeking Alpha, promoting knowledge sharing [1]

Southland Holdings (SLND) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Company Participants Alex Murray - VP of Corporate Development & IRFrank Renda - President & CEOKeith Bassano - CFOAdam Thalhimer - Director of ResearchJean Veliz - Senior Research Associate Conference Call Participants Julio Romero - Equity AnalystChristian Schwab - Senior Research Analyst Operator Good morning. My name is Chloe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Southl ...

Southland Holdings (SLND) Q1 2025 Earnings Call May 14, 2025 10:00 AM ET Speaker0 Good morning. My name is Chloe, and I will be your conference operator today. At this time, I would like to welcome everyone to the Southland First Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer there question you. Alex, you may begin your conference. Speaker1 Good morning, everyone, and we ...