Full Year 2026 Lendinvest PLC Earnings Call Transcript
Key Points
- LendInvest PLC (LSE:LINV) achieved a record GBP1.44 billion in lending, marking a 17% increase year-on-year despite a challenging property market.
- Funds under management grew by 7% to GBP5.48 billion, attracting new institutional investors.
- Net operating income increased by 12%, with adjusted EBITDA rising 200% to GBP8.7 million.
- The company successfully reduced its underlying cost base while increasing scalability, demonstrating operational efficiency.
- LendInvest PLC (LSE:LINV) has a strong track record in specialist property finance, earning trust from major institutional partners like JP Morgan and HSBC.
- The property market remains tough, with interest rate volatility and increased mortgage rates impacting transaction volumes.
- The Renters' Rights Act is causing some landlords to exit the market, adding pressure to the buy-to-let sector.
- Impairments remain elevated due to the legacy capital portfolio, affecting overall financial performance.
- The company faces challenges in the construction sector, with low levels of new starts due to interest rate concerns and cost inflation.
- Despite strong growth, the company acknowledges potential demand sensitivity to rising interest rates, which could impact future lending volumes.
Good day, ladies and gentlemen and welcome to LendInvest full-year results. (Operator Instructions) I would like to remind all participants that this call is being recorded.
I will now hand over to the CEO of LendInvest, Rod Lockhart, to open the presentation. Please go ahead.
Good morning, everyone, and thank you for joining us.
I'm delighted to share LendInvest's annual results for FY26. I'm joined today by Stephen Shipley, our CFO. And this time also by Daniel O'Connor, our Chief Operating Officer.
Daniel has driven our strategy to simplify our business over the last two years, delivering efficiency and scalability through automation. Daniel also leads our business in Glasgow, where we now have more than half our people based. Over the next 30 minutes or so, we'll take you through our FY26 results, showcasing how we continue to grow our profitability, execute on a medium-term strategy.
In our results presentation last year, we focused on the
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