Smart Parking Limited · ASX:SPZ
Smart Parking — Investor Presentation (February 2021)
24 slides from Smart Parking's investor presentation, Feb 25, 2021
Slide 1: FY21 Half Year Results
Smart Parking Limited (ASX:SPZ) FY21 Half Year Results 25 February 2021 CEO Paul Gillespie smartparking.com
Slide 2: Smart Parking Ltd (ASX:SPZ)
Smart Parking Ltd (ASX:SPZ) A global company focused on delivering industry leading technology innovations and solutions within the parking industry Sites Managed - ANPR Parking management services Provision of parking management solutions, predominantly servicing 576 the retail sector, managing age
Slide 3: H1 FY21 Highlights
H1 FY21 Highlights 576 Adjusted EBITDA margin Growth in parking Total increased 210 bps to breach notices up 14% sites, up 27% *As of 31 December 2020 compared to PCP *H1 FY21 compared to PCP 40% *H1 FY21 compared to H2 FY20 Cash of $ 2.2m Favourable VAT settlement $ 9.3m 6.9m *At 31 December 2020 $
Slide 4: Business Update
Business Update | Building the portfolio to support long term growth and earnings • Strong recovery in Managed Services with H1 FY21 showing 51% revenue growth vs COVID impacted H2 FY20. Technology revenues and capital projects delayed by the pandemic. • New business wins leading to 85 new ANPR site
Slide 5: H1 FY21 Financial Update
P SMART H1 FY21 Financial Update
Slide 6: Smart Parking Group
Smart Parking Group H1 FY21 Results | Group Profit & Loss (m) 13,974 (000s) H1 FY20 H1 FY21 10,184 Revenue 14.0 10.2 7,525 Cost of Sales (5.1) (3.6) Gross Profit 8.9 6.6 Overheads (7.3) (5.2) 1,650 1,412 Adjusted EBITDA 1.6 1.4 (2,522) Depreciation and amortisation (1.8) (1.8) Revenue (excl. interes
Slide 7: Segment reporting
Segment reporting | Recovery underway with parking management revenue up 51% on COVID lows Parking Management (000s) Technology (000s) 11,503 3,409 3,309 8,674 2,316 5,741 3,522 2,771 Revenue Adjusted EBITDA Revenue Adjusted EBITDA (242) (419) (618) (1,156) H1 FY20 H2 FY20 H1 FY21 H1 FY20 H2 FY20 H1
Slide 8: Operating expense analysis
Operating expense analysis | Benefiting from cost saving initiatives in FY20 Overhead Expenses (000s) 7,291 1,216 220 69 5,202 97 220 115 152 H1 FY20 Headcount Salary Savings Marketing Travel Motor Other H1 FY21 Operating Reduction Reductions from UK Staff Expenses Expenses Vehicle Expenses Operatin
Slide 9: Group financial position
Group Financial Position (m) $m Jun-20 Dec-20 Group financial position Current assets 11.9 18.9 • $9.3m of cash – capital to self-fund recovery and growth strategies. Non current assets 22.2 19.7 • The Company drew down a UK Coronavirus Business Interruption Loan for $2.7m in September 2020. Total a
Slide 10: Group cash flow
Cash Flow Waterfall (m) Group cash flow 2.7 3.0 • Cash on hand of $9.3m as at 31 December 2020. • Positive adjusted operating cash flow of $2.2m, up 2.2 48% compared to PCP. • Growth Capex of $0.8m including ANPR camera 1.4 equipment which will benefit future periods. (0.8) (0.3) • Average payback f
Slide 11: H1 FY21 Business Update
SMART PARKING H1 FY21 Business
Slide 12: UK pandemic tracker
UK pandemic tracker | Strong recovery in Q4 expected – UK vaccination progress continues, additional sites contribute new revenues and seasonality boosts activity. PBNs Issued vs Car Count 23 March 2020 40,000 10,000,000 UK lockdown commences. 9,000,000 1 June 35,000 Some primary schools 8,000,000 s
Slide 13: Management services – growing the estate
80 Management services – growing the estate Site Reconciliation FY20 H1 FY21 85 576 Net new sites (5) 56 496 85 added in H1 FY21 452 (12) (22) 389 27% 286 Growth target: 1,000 sites under management expected by June 2023 01 8 01 9 io ns va ls 01 9 io ns va ls 20 ions va ls 20 Increase in sites n2 n2
Slide 14: Multiple growth drivers
120% PM Lockdown Lockdown Some non-essential Some pubs allowed 10pm curfew Local England in Announcement begins extended shops allowed to re-open begins COVID-19 lockdown to re-open alert levels 100% Easter Sunday 80% Multiple growth drivers 60% 40% | Recovery to pre COVID-19 levels with increased s
Slide 15: Global technology update
Global technology update Summary • Smart City and IoT market opportunity is growing with further adoption across all market verticals. • Significant business development activity in H1 with a marked increase in public tenders being submitted across all SPZ territories. Outlook • By capitalising on t
Slide 16: Smart City Product Launch
Smart City Product Launch 6 PARKING MAP CASE – NEW Valve Position Proximity Infringement FRONT L R Dashboard PWX836 IN-PROGRESS 6m Infringement policy* Cases McNab St, Penrose, Auckland... CASE – NEW Payment Expired Overstay 04:45 pm – Thu 23 Jan 2020 Map 29 Walls Rd, Penrose, Location Type* Unassig
Slide 17: Smart Parking outlook
Smart Parking outlook | Strong recovery expected as the Pandemic restrictions ease • UK Management Services recovery underway as vaccine rollout accelerates – all adults to be vaccinated by July 2021. • 85 new ANPR sites installed in H1 with over 200 new sites in the pipe for H2 FY21. • UK market op
Slide 18: Supplementary Information
Supplementary Information
Slide 19: Segment reporting
Segment reporting Adjusted Revenue Adjusted EBITDA EBITDA Margin (000’s) H1 FY21 H1 FY21 H1 FY20 H1 FY21 H1 FY20 H1 FY21 H1 FY20 H1 FY21 vs H1 FY20 vs H1 FY20 Parking Management 11,503 8,674 (24.6%) 3,522 2,771 (21.3%) 30.6% 31.9% Technology Division 3,409 2,316 (32.1%) (618) (242) (60.8%) (18.1%) (
Slide 20: 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 21: 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 22: 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 23: 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 24: Glossary and Smart Parking 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 which are non-operating and/or are not expected to occur in the future. EBITDA – represents Earnings before in
Smart Parking — Investor Presentation (February 2021) on 6ix