Gentrack Group Ltd · NZX:GTK
Gentrack — Shareholder Meeting (February 2019)
24 slides from Gentrack's shareholder meeting presentation, Feb 26, 2019
Slide 1: Annual Meeting of Shareholders Presentations
26 February 2019 For personal use only Annual Meeting of Shareholders Presentations Please find attached a copy of the presentations that will be delivered at Gentrack Group Limited’s (NZX/ASX: GTK) annual meeting of shareholders today at 4pm NZT in Auckland. ENDS ******* Contact: Jon Kershaw; Compa
Slide 2: GTK Annual Meeting 2019
For personal use only GTK ANNUAL MEETING 2019 26 February 2019 www.gentrack.com
Slide 3: Introductions
Introductions For personal use only Directors Key Executives John Clifford Nick Luckock Ian Black Chairman (2007) Non-executive Director CEO (2016) (2018) Andy Coupe Leigh Warren Tim Bluett Non-executive Director Non-executive Director CFO (2018) (2014) (2008) Graham Shaw James Docking Jon Kershaw N
Slide 4: Agenda
Agenda For personal use only • CEO’s Report on FY18 • Strategy and Outlook • Formal Business • Questions/General Business • Refreshments and Networking 3
Slide 5: Shareholder breakdown
Shareholder breakdown For personal use only Shares - % held by region 4,045 NUMBER OF 16.4% HOLDING DIRECTORS SHAREHOLDERS - ALL AND OFFICERS Up 13.8% 116 NUMBER OF 68.8% HOLDING OF TOP 4 SHAREHOLDERS SHAREHOLDERS - 20 SHAREHOLDERS WITH 5%+ STAFF AND DIRECTORS 1.04 * All figures as at 13 February 20
Slide 6: Enterprise software for utilities and airports
Enterprise software for For personal use only utilities and airports Gentrack delivers software solutions which are deeply embedded and mission critical. We enable over 220 utilities and airports in 30 countries to lower service costs and drive innovation delivering enhanced customer service. EXPERT
Slide 7: FY18 Financial Highlights
FY18 Financial Highlights REVENUE EBITDA NPAT For personal use only $104.5m $31.0m $13.9m Up 39% Up 30% Up 17% Up 37% Up 26% Excluding acquisitions* Excluding acquisitions* TOTAL FREE CASHFLOW DIVIDEND SHAREHOLDER RETURNS 85% 13.7cps 137% Pre-tax as a % Full year** since 2014 of EBITDA IPO*** * Evol
Slide 8: FY18 Highlights
For personal use only FY18 Highlights 7
Slide 9: Growth since IPO (2014)
Growth since IPO (2014) For personal use only FY18 Revenue by Region ($NZm) CAGR EBITDA c.24% FY17 comparison: • UK: up 107% • Rest of World: up 105% • Australia: down 4% • New Zealand: down 9% 8
Slide 10: Growing recurring revenues
Growing recurring revenues For personal use only Utilities Airports Total*: $63.5m $85.1m Total*: $11.7m $19.4m Annual Recurring Revenue Annual (ARR) Recurring Revenue (ARR) Licence Revenue Annual Fees Annual Recurring Revenue Licence Revenue Annual Fees Annual Recurring Revenue up 67% up 86% up 49%
Slide 11: UK – growth opportunity
UK – growth opportunity For personal use only • Current market share – 47% of all energy suppliers – 11% of the household energy market by meters – 40% of non-household water market by meters – Growing business with 4 of ‘Big 6’ energy suppliers • Expansion of Evolve solution across customer base •
Slide 12: Evolve Analytics acquisition – tracking ahead of expectations
Evolve Analytics acquisition – tracking ahead of expectations For personal use only • Acquired in June 2018 for £23.0m (NZ$44.9m) • SaaS solution provider to the UK energy sector • Specialises in the identification and correction of meter data errors, and reconciliation of energy and network settlem
Slide 13: Airports
Airports For personal use only • Launched Veovo branding and an integrated solution across Airport 20/20, Blip and CA+ • Established US team to pursue large market opportunity • New wins – Belfast, Jersey and Orlando Airports • Launched BlipTrack Vision – a smart camera enabled passenger tracking so
Slide 14: Asian opportunity
Asian opportunity For personal use only • Established operations in Singapore and deployed software to 3 energy suppliers as Singapore introduced competition • Monitoring energy market deregulation and retail competition in other Asian markets • Major markets are already liberalising - China and Jap
Slide 15: Shift of business model to SaaS recurring revenues
Shift of business model to SaaS recurring revenues For personal use only • Productised solutions for each market to accelerate delivery and ROI Traditional On Premise vs SaaS Revenue Model • Offer includes compliance, regular enhancements, rapid value (Indexed) delivery and is highly differentiated
Slide 16: Global market opportunity
Global market opportunity For personal use only Renewable and Distributed Energy Settlement and reconciliation of energy, Resources driving energy market restructuring Smart Metering roll outs, tariff reforms Rise of Demand Response, Battery storage, Our customers are at the forefront of new utility
Slide 17: Gentrack Strategy
Gentrack Strategy For personal use only 1. Continue to productise our software - Better for customers, faster to deliver with fewer people and lower risk 2. Move to SaaS revenue – new and legacy customers over time - Improves margin and quality of earnings 3. Focus on our existing markets – UK, Aust
Slide 18: Outlook
Outlook For personal use only • EBITDA for first half expected at c.$12.5m, compared to $15.9m 1H18 and $15m 2H18 • This is down on 1H18 due to increased staff investment of c.$5m compared to 1H18. We had expected this cost to be covered by substantial projects which have been put on hold • Notwiths
Slide 19: Formal Business
For personal use only FO R M A L B U S I N ES S www.gentrack.com
Slide 20: Resolution 1: Appointment of Auditors and Fixing of Auditors' Remuneration
RESOLUTION 1: For personal use only APPOINTMENT OF AUDITORS AND FIXING OF AUDITORS’ REMUNERATION • That KPMG is re-elected as the auditor of Gentrack Group Ltd and that the Board is authorised to fix the auditors’ remuneration. Votes For Votes Against Number of Shares 49,999,038 857,068 Number of Sh
Slide 21: Resolution 2: Election of Fiona Oliver
RESOLUTION 2: For personal use only ELECTION OF FIONA OLIVER • That Fiona Oliver be elected to the Board as a non-executive director of Gentrack Group Limited. Votes For Votes Against Number of Shares 50,766,061 66,661 Number of Shareholders 103 6 20
Slide 22: Resolution 3: Re-election of John Clifford
RESOLUTION 3: For personal use only RE-ELECTION OF JOHN CLIFFORD • That John Clifford be re-elected as a non-executive director of Gentrack Group Limited. Votes For Votes Against Number of Shares 50,001,085 852,374 Number of Shareholders 113 2 21
Slide 23: Questions and General Business
For personal use only Q U EST I O N S A N D G E N E R A L B U S I N ES S www.gentrack.com
Slide 24: Close
For personal use only C LO S E www.gentrack.com