Smart Parking Limited · ASX:SPZ
Smart Parking — H1 FY2016 Earnings Presentation
24 slides from Smart Parking's earnings presentation, Feb 15, 2016
Slide 1: Half Year Results Presentation February 2016
For personal use only Smart Parking Limited ASX:SPZ Half Year Results Presentation February 2016 Paul Gillespie, CEO Richard Ludbrook, CFO
Slide 2: Introducing Smart Parking
Introducing Smart Parking For personal use only Smart Parking Limited (ASX:SPZ) – intelligent car parking solutions Smart Parking leads the world in the development of intelligent car parking solutions for cities around the globe through two main divisions: Management Services § Headquartered in th
Slide 3: Key milestones H1 FY2016
Key milestones H1 FY2016 For personal use only Smart Parking achieves EBITDA profitability milestone § EBITDA profitable for the first time in Smart Parking’s history § $3.0m EBITDA improvement on prior period § Revenue up 47% on prior period § UK Management Services business continues to grow §
Slide 4: Corporate information
Corporate information For personal use only Share price performance ASX code SPZ Market cap $64.66m Share price – 12/02/16 0.22* 52 week high 0.38 52 week low 0.08 Average daily volume 325,837 Shares on issue 292.1m Listed on ASX 09/01/2007 GICS classification IT Half Year Results Presentation 2016
Slide 5: Group financials H1 FY2016
Group financials H1 FY2016 For personal use only Smart Parking delivers strong earnings growth Normalised EBITDA 1.00 0.85 • Normalised EBITDA1 of $0.85m, improved $3.0m and 0.50 continues to increase 0.00 • Statutory net loss after tax of $1.2m improved $3.1m (0.50) (0.35) $M's (0.74) • Normalised
Slide 6: Group financial performance ($,000's)
Group financial performance ($,000’s) For personal use only Smart Parking achieves EBITDA profitability milestone 20,000 15,684 • Revenue up 47% 15,000 • $3.0m EBITDA 11,371 10,668 improvement 10,000 • NPAT includes the following 5,000 non recurring and non cash items: 72 0 • Amortisation ($0.4m) (9
Slide 7: Changes in profitability ($000's)
Changes in profitability ($000’s) For personal use only 2,000 1,500 847 414 1,000 645 24 99 500 2,822 0 72 (500) (1,000) (2,131) (1,500) (2,000) (2,500) Normalised Gross profit in Gross profit in Staff costs in Exchange Other Normalised EBITDA FY 2016 EBITDA FY 2015 Services Technology Technology Mo
Slide 8: Group financial position at December 2015
Group financial position at December 2015 For personal use only • Cash at bank $1.6m ($000’s) Dec 2015 Jun 2015 • Fixed Asset additions $1.8m – Current Assets 13,743 23,856 mainly related to the deployment of technology in the UK which has led Non Current Assets 10,643 10,221 to improved earnings To
Slide 9: Cash flows
Cash flows For personal use only Smart Parking achieves improved operating cash flows • Net operating cash outflow of $0.88m improved by $2.28m (excluding non recurring payments related to a legal dispute) • Capex of $1.6m for the deployment of technology in UK driving improved results • Cash at ban
Slide 10: Management Services ($,000's)
Management Services ($,000’s) 16,000 For personal use only 14,767 14,000 • Revenue up 45% 12,000 • EBITDA of $2.8m which 10,000 9,941 is a $2.9m improvement on FY15 8,000 • Deployment of 6,000 technology on new and 4,000 existing sites 2,840 2,000 0 Revenue (43) EBITDA (2,000) FY2015 FY2016 Half Yea
Slide 11: Technology ($,000')
Technology ($,000’) For personal use only 2,000 1,644 • Commenced installation 1,500 1,324 at Australian Capital 1,000 Territory 500 • Recurring revenue of $1.0m increased 68% on 0 FY15 Revenue EBITDA (500) • Continued investment in sales & marketing, R&D (1,000) and operational capacity (1,500) • R
Slide 12: Management Services
Management Services For personal use only H1 FY16 update § Continued business turn around – story in numbers § Continued Technology roll out § New contract wins § Key account update Half Year Results Presentation 2016 12
Slide 13: Management Services ($,000's)
Management Services ($,000’s) For personal use only 16,000 14,767 • Revenue up 49% (up 14,000 24% in constant currency) 12,000 9,941 • EBITDA of $2.8m which 10,000 is a $2.9m improvement 8,000 on FY15 6,000 • Deployment of technology on new and 4,000 2,840 existing sites 2,000 0 Revenue (43) EBITDA
Slide 14: Management Services update H1 FY16
Management Services update H1 FY16 For personal use only Continued technology implementation § ANPR technology continues to be deployed across the UK & Northern Ireland § 72 sites installed so far in FY16 with ANPR technology § Over 70 sites in the pipeline to install ANPR technology before 30th
Slide 15: Management Services update: secures new contract wins
Management Services update H1 FY16 For personal use only Smart Parking secures new contract wins § Lidl UK – German grocery retailer. SPZ won a contract to manage over 30 sites during H1 FY16 § Matalan UK contract retained and expanded from 28 to 88 sites during H1 FY16 § McDonald’s UK – first si
Slide 16: Management Services update: continues to focus on service delivery
Management Services update H1 FY16 For personal use only Smart Parking continues to focus on service delivery § Key customers retained through excellent service: § Asda § Matalan § New sites and market share growing throughout the UK with existing relationships § Expanded account management tea
Slide 17: Technology update H1 FY16
Technology update H1 FY16 For personal use only 78 3,110,874,805 Sensor Sites 50,000 631,325 Total minutes parked across the globe Sensors installed Sensor vehicle in the last 6mths - movements a Sensors day Half Year Results Presentation 2016 17
Slide 18: Technology H1 FY16 Update
Technology For personal use only H1 FY16 Update § Technology contract wins § Westminster update § Technology trial sites expanded in UK, AUS and NZ § RFID update Half Year Results Presentation 2016 18
Slide 19: Technology update: secured contract wins
Technology update For personal use only Smart Parking secured contracts wins § Wellington City Council – 3,500 sensor order won in December 2015 § Australian Capital Territory – Smart Parking project to install sensors on street and off street in November § Auckland Transport – Order to supply an
Slide 20: Westminster update
Westminster update For personal use only Plans in place for parking transformation § Westminster phase 2 decision pending § RFID project live and is a success – potential for expansion to residents bays of which there are 10,000 § Maintenance and data contract underway – all KPI’s being met § We
Slide 21: RFID Technology update
RFID Technology update For personal use only Real-time Radio-Frequency Identification § First on-street project went live in October 2015 § Actively using RFID/ Smart Permit system to alert parking attendants to infringing vehicles without Smart Parking RFID tags § RFID being installed as part
Slide 22: Summary
Summary For personal use only Smart Parking achieves EBITDA profitability for the first time § EBITDA profitable for the first time in Smart Parking’s history § Revenue up 47% on prior period § $3.0m EBITDA improvement on prior period § H1 FY16 results in the Management Services business are str
Slide 23: Contact
Contact For personal use only Further information on Smart Parking can be found at www.smartparking.com Paul Gillespie Chief Executive Officer + 61 408 790 710 paul.gillespie@smartparking.com Richard Ludbrook Chief Financial Officer + 64 275 543 661 richard.ludbrook@smartparking.com Half Year Result
Slide 24: Disclaimer
Disclaimer For personal use only The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe s