Corporate Profile

About goeasy Ltd.

goeasy Ltd. is a leading full-service provider of goods and alternative financial services that provides everyday Canadians with a chance for a better tomorrow, today. goeasy Ltd. serves its customers through two key operating divisions, easyfinancial and easyhome. easyfinancial is a non-prime consumer lender that bridges the gap between traditional financial institutions and costly payday lenders. It is supported by a strong central credit adjudication process and industry leading risk analytics. easyfinancial also operates an indirect lending channel, offering loan products to consumers at the point-of-sale of third party merchants. easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. Both operating divisions of goeasy Ltd. offer the highest level of customer service and enable customers to transact through a national store and branch network and through its online and mobile eCommerce enabled platforms.

goeasy Ltd.’s. common shares are listed for trading on the TSX under the trading symbol “GSY” and goeasy’s convertible debentures are traded on the TSX under the trading symbol “GSY-DB”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s.

Operation since 1990 13.5 million shares outstanding
Based in Mississauga, Ontario Market capitalization ~ $500 million
over 1,700 employees Quarterly dividend of $0.225
Listed on the Toronto Stock Exchange (TSX: GSY) Analyst coverage provided by 6 firms



Overview of Business Segments

easyfinancial

easyfinancial is the Company’s financial services arm that provides fully-amortizing consumer installment loans to non-prime Canadians that have limited access to bank credit.

Description Financial Snapshot (Year Ended December 31, 2017)
  • Products include unsecured and secured installment loans that range in size from $500 to $25,000 with interest rates starting at 19.99% and repayment terms of 9 to 60 months for unsecured loans and terms of up to 10 years for secured loans.
  • Omni-channel model that enables customers to transact through multiple delivery channels including a National branch network of over 225 locations, online via a digital application platform, through call centers and through an indirect channel that provides loan products to consumers at the point-of-sale of third party merchants.
  • Centralized loan decisioning process that uses leading-edge, data-driven modeling and analytical techniques that include underwriting and credit adjudication policies that have been continuously enhanced by analyzing over $2 Billion in origination data.
Revenue $268.0M
Operating Income $102.7M
Store Count 228 (kiosks, stand-alone locations and national loan office)
Gross Consumer Loans $526.5M

easyhome

easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores as well as online via our digital eCommerce platforms.

Description Financial Snapshot (Year Ended December 31, 2017)
  • Oldest segment of goeasy’s business.
  • Leasing transactions that act as an alternative to the financing offered by traditional retailers.
  • Customers with a lack of credit or insufficient cash funds can lease merchandise without credit checks or down payments and the flexibility to terminate a lease at any time with no cost.
  • Fixed annual interest rate of 29.99%.
  • Starting in 2017, 99 easyhome locations began offering unsecured loans up to $15,000, powered by easyfinancial to expand the company’s points of distribution and leverage its existing real estate investments.
Revenue $137.3M
Operating Income $20.9M
Lease Assets $54.3M
Store Count 171