Smart Parking Limited · ASX:SPZ
Smart Parking — Investor Presentation (February 2020)
26 slides from Smart Parking's investor presentation, Feb 24, 2020
Slide 1: FY20 Half Year Results
Smart Parking Limited (ASX:SPZ) FY20 Half Year Results 24 February 2020 CEO Paul Gillespie smartparking.com
Slide 2: H1 FY20 Highlights
H1 FY20 Highlights Adjusted EBITDA growth Adjusted EBITDA margin Growth in parking breach in UK Managed Services in UK Managed Services of increased 660 bps to notices (on PCP) up 41% 23% *Excludes IFRS 16 adoption *Excludes IFRS 16 adoption 28% *Excluding non recurring site losses Net cash of Growt
Slide 3: Recovery continues, growth on track
Recovery continues, growth on track World-leading technology and first-class managed services Management Services | UK Technology | Global • Delivering consistent performance • Significant new contract wins (Gatwick with growth in key metrics Airport) validates value proposition • Continuing improve
Slide 4: Growth on track
Growth on track | Smart Parking Group PBN issuance up 28% 465 ANPR Sites Under Management 452 UK ANPR roll out continues 101 new sites installed in FY20 to date. 440 Work continues to refine the portfolio to 432 enhance overall profitability. 424 465 total sites under management using Management ser
Slide 5: H1 FY20 Financial Update
P SMART Hi FY20 Financial Update
Slide 6: H1 FY20 Results: Group Profit & Loss
H1 FY20 Results | Group Profit & Loss (m) H1 FY19 H1 FY20* Revenue 14.1 14.0 Cost of Sales (6.1) (5.0) Gross Profit 8.0 8.9 Smart Parking Group Overheads (7.5) (7.3) Adjusted EBITDA 0.5 1.6 • Revenue growth in management services including: EBITDA Adjustments 0.0 (1.8) – The loss of some key car par
Slide 7: Group Financial Position
H1 FY20 Results | H1 FY20 Results | Group Financial Position (m) Adjusted Operating Cash Flow & CAPEX (m) 1.8 1.8 $m Jun-19 Dec-19* 1.7 1.7 1.7 1.7 1.5 1.5 1.3 1.3 Current assets 18.8 16.8 Non current assets 10.2 24.0 Total assets 29.0 40.8 Current liabilities 9.3 10.7 H2 FY19 H2 FY19 H1 FY19 H1 FY1
Slide 8: Management Services
H1 FY20 Results | Management Services Financials (m) Management Services 11.3 11.5 10.4 • Revenue increase to $11.5m, up 1% on PCP. Adjusting H1 FY19 for abnormal site removals ($2.2m revenue) underlying revenue was up 26%. • Adjusted EBITDA of $3.5m, up 84% on PCP (includes $0.82m of IFRS benefits)
Slide 9: Parking Breach Notices Issued and Site Reconciliation
H1 FY20 Results | Parking Breach Notices Issued H1 FY20 Results | Site Reconciliation 85 16 465 452 (3) .a.) (22) wth (p derlying Gro 28% Un 103,432 389 93,510 92,678 934 86,341 91,744 73,746 14,482 5,562 71,859 68,184 Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 19 s s 19 s s 20 on al on al 20 20 ov ov
Slide 10: Technology
H1 FY20 Results | Technology Financials 3.9 3.4 Technology • Technology revenue fell by 13%, impacted by customer delays in smart city project delivery. • Contracted orders of $2.4m to install in H2 FY20. • Annualised committed recurring revenue of $3.8m up 9% (from August 2019). • Continue to win n
Slide 11: H1 FY20 Business Update
SMART PARKING Hi FY20 Business
Slide 12: Business update: UK managed services
Business update: UK managed services | Investments continue to drive growth • Continued focus on capturing market share in the ANPR parking enforcement market place – total market of 45,000 car parking sites across the UK. • Sales team investment and operational focus leading to 85 new sites in H1 –
Slide 13: Management services
Management services | Diverse and growing customer base • UK sales force continue to be successful in winning new sustainable business. • Pipeline of new sites and clients growing beyond 450 locations. • All new sites contracted for an average of three years. H1 FY20 Results Presentation | smartpark
Slide 14: Business update: Technology
Business update: Technology | IoT and smart city opportunity underpin SPZ pipeline • Despite customer project delays in H1 revenue, the Technology order book is growing with $2.4m of contracted orders to execute in H2 • SPZ’s position in the aviation market place is underpinned with a significant wi
Slide 15: Growing technology customer base
Growing technology customer base | Continued growth within all operating territories, and expansion into new markets.
Slide 16: Business update: R&D
Business update: R&D | Investment in technology preparing SPZ for the future • Enforcement Management System – launching in H2 the product will provide a complete enforcement & contravention solution that will open wider market opportunities into the future. • Next generation parking app – including
Slide 17: Strategy and Outlook
Strategy and Outlook Pp PARKING
Slide 18: FY20 Strategy and Goals
FY20 Strategy and Goals – Services • H2 FY20 started well with January PBNs up 29% compared to PCP • Site growth to continue with a target of 200 new installations in FY20. Currently at 101 new sites at January 31st. • Continued focus on technology led solutions to drive portfolio optimisation. • Fo
Slide 19: Contact
Contact Paul Gillespie Chief Executive Officer paul.gillespie@smartparking.com Richard Ludbrook Chief Financial Officer richard.ludbrook@smartparking.com smartparking.com
Slide 20: Supplementary Information
Supplementary Information
Slide 21: IFRS Reconciliation
H1 FY20 Results | IFRS 16 Reconciliation (m) Pre IFRS 16 Post IFRS 16 Adjustment IFRS 16 Impact on Statement of Profit or Loss Smart Parking Group Adjusted EBITDA (Impact of reduction in 0.16 0.89 1.95 operating lease costs) • IFRS 16 adopted in H1 FY20: – $0.89m increase to Adjusted EBITDA Deprecia
Slide 22: Management services: How it works
Management services: How it works | Parking management improving customer satisfaction and revenue generation. • ANPR | Automatic Number Plate Recognition • Pay & Display | ANPR Linked Automated Payment System • Site Surveys | Real-time information, analysis and trend data • Parking Attendants | Tra
Slide 23: ANPR: How it works
ANPR: How it works | Automatic number / license plate recognition (ANPR) is a reliable, cost effective off-street parking management solution. It is proven to serve a wide range of industries including supermarkets, retail, hotels, hospitals and leisure centres. Smart Parking’s ANPR solution ensures
Slide 24: Technology: How it works
Technology: How it works | Smart Parking’s technology provides effective parking management solutions around the world. Technology: How it works Digital Displays Air Quality | Smart Parking’s technology provides effective parking management Lighting Surveillance solutions SmartCloud around the world
Slide 25: Smart Parking app
Smart Parking app | The Smart Parking app and its customised Miami, Cardiff, Adelaide, Moreton Bay, Moonee Valley, Livingstone Shire and Les Mills apps delivered. Features and benefits: • Available for both Android and iOS. • Provides detailed information around hours, tariffs and bay types. • Shows
Slide 26: Glossary and legal disclaimer
Glossary Adjusted EBITDA – The Board assesses the underlying performance of the Group based on a measure of Adjusted EBITDA which takes into account costs incurred in the current period but not expected to occur in the future. EBITDA – represents Earnings before interest, taxation, depreciation and
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