Corporate Profile

About goeasy Ltd.

goeasy Ltd. is a leading full-service provider of goods and alternative financial services that improve the lives of everyday Canadians. Today, goeasy Ltd. serves its customers through two key operating divisions, easyhome and easyfinancial. 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. easyfinancial is the leading provider of alternative financial services, offering consumer loans between $500-$15,000, and 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. 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 of over 175 easyhome Leasing and 200 easyfinancial locations across Canada and through its online and mobile eCommerce enabled platforms. goeasy Ltd. is listed on the TSX under the symbol 'GSY'.

Operation since 1990 13.4 million shares outstanding
Based in Mississauga, Ontario Market capitalization ~ $250 million
1,600 employees Quarterly dividend of $0.125
Listed on the Toronto Stock Exchange (TSX: GSY) Portfolio run off value of $824 million at December 31, 2015


Overview of Business Segments

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. easyhome is an accessible, affordable and debt-free solution for consumers who are looking for alternatives to traditional retailers. easyhome’s customers may not be able to purchase merchandise because of a lack of credit or insufficient cash resources, may have a short-term or otherwise temporary need for the merchandise, or who simply want to use the merchandise, with no long-term obligation, before making a purchase decision.

Since 2013, easyhome allows customers to enter into merchandise leasing transactions through its e-commerce platform.

Description Financial Snapshot (Year Ended December 31, 2015)
  • Oldest segment of goeasy’s business
  • Allows consumers to lease merchandise, such as household furnishings, appliances, and electronic products, for weekly or monthly rental payments
  • Option to purchase without an initial down payment or credit check, can cancel lease at any time without penalty
  • Consumers are required to sign lease agreements for a pre-determined term
  • Annual interest rate of 29.9% is fixed
Revenue $152.6M
Operating Income $24.7M
Lease Assets $60.8M
Store Count 184

easyfinancial Services

easyfinancial Services provides unsecured personal loans between $500 to $15,000, repayable in regular instalments over 9 to 60 months. easyfinancial Services is a lending alternative and began as a complementary business to easyhome. Its products are more affordable than payday loans and more accessible than traditional bank loans.

Description Financial Snapshot (Year Ended December 31, 2015)
  • goeasy’s financial services arm that provides unsecured personal loans between $500 and $15,000 for terms between 9 and 60 months
  • Business model utilizes multiple channels (200+ retail branch network, online and merchant partners) for maximum loan originations
  • Loan decisions made centrally using credit risk models developed by analyzing over $1.0 billion of originations data
Revenue $151.7M
Operating Income $46.8M
Store Count 202 (kiosks, stand-alone locations and national loan office)
Gross Consumer Loans $289.4M