Slide 1: Half Year Results, Business Presentation & Capital Raising
Half Year Results, Business Presentation & Capital Raising February 2014 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 2: Important Information
Important Information Summary information The information contained in this presentation or subsequently provided to any recipient of this presentation whether orally or in writing by or on behalf of Smart Parking Ltd (Smart Parking), including by its respective employees, agents or consultants (Inf
Slide 3: Executive Summary
Executive Summary • Smart Parking (ASX: SPZ) is a world leader in the development and marketing of intelligent car parking solutions and parking management services • SPZ runs two business divisions: • Parking Technology – established in 2003, specialises in on-street and off-street technology and d
Slide 4: Agenda
Agenda • Introduction • Half Year Financial Results • Operational Update • Future Growth • Capital Raising • Summary 4 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 5: Smart Parking Overview
Smart Parking Overview • Smart Parking is a world leader in the development Capital Structure and marketing of intelligent car parking solutions and Parking Management Services Shares 208,308,602 Options - • The group is segregated into two business areas: Market $41.7m (14 Feb) Capitalisation • Par
Slide 6: How Does the Technology Work?
How Does the Technology Work? - s s - - 6 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 7: Board
Board • Chris Morris (Chairman) • Founder and Chairman of Computershare. • Chris was appointed Chief Executive Officer in 1990 and oversaw the listing of Computershare on the ASX in 1994. Chris became the Computershare Group's Executive Chairman in November 2006 and relinquished his executive respon
Slide 8: February 2014 Half Year Financial Results
February 2014 Half Year Financial Results NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 9: Half Year Results
Half Year Results Financial Performance Financial Position (A$000’s) 2014 H1 2013 H1 ($000’s) Dec 2013 Jun 2013 Revenue 11,371 11,605 Current Assets 15,291 12,244 EBITDA (992) (1,635) Non Current Assets 10,108 10,532 Net Profit/(Loss) (1,371) (2,605) Total Assets 25,399 22,776 Excluding One Offs (1,
Slide 10: Technology
Technology Key achievements: % of % • New business wins at ($000’s) 2014 H1 2013 H1 Total Change Westminster City Council (UK), Rev. Camden Council (UK), Bondi New Zealand 712 612 16% 43% Beach (Aust) and Rotorua (NZ) Australia 438 181 142% 27% • Growth in recurring revenue United Kingdom 471 264 78
Slide 11: Management Services
Management Services Key achievements: % % of Total ($000’s) 2014 H1 2013 H1 • Added 3 new sales heads Change Revenue • Created new direct marketing Management Fees 2,387 2,718 (12%) 23% campaign P&D Income 4,518 4,275 6% 44% • Further technology roll out Civil Penalties 2,304 2,413 (5%) 23% Marshall
Slide 12: Operational Update
Operational Update NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 13: Technology
Technology • Completed sales and installations: Contract Sensors Date of Completion Rotorua (NZ) 1,500 Dec 13 Bondi (AUS) 900 Feb 14 Westminster (UK) 3,000 Expected 30 March 2014 • Recurring data and maintenance revenue continue to grow with each new contract completion • Product Trials running: Pro
Slide 14: Management Services
Management Services • Created a target driven environment focused on yield management, cost reduction and revenue increase • Focus on maximising revenue opportunities across the existing estate • Number Plate Recognition camera installation continuing – further 20 site installations due to complete
Slide 15: Future Growth
Future Growth NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 16: Future Growth in Technology
Future Growth in Technology Apply new and existing funds to accelerate growth, maximise revenue streams and drive profitability • Installations • Strengthen sales resources to win new business across tier 1 focus areas (UK, Australia and NZ) and tier 2 focus areas (UAE, USA and Asia) • Strengthen tr
Slide 17: Future Growth in Technology
Future Growth in Technology Apply new and existing funds to accelerate growth, maximise revenue streams and drive profitability • Recurring Revenue • Continue to sell and grow data hosting revenue in all new and existing sensor installations • Continue to sell and grow maintenance revenue in all new
Slide 18: Summary
Summary NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 19: Summary
Summary • SPZ is a world leader in the development, installation and maintenance of intelligent car parking solutions for cities around the globe and Parking Management Services in the UK • Financial results for the half year are encouraging for the technology business with new contracts and a growi
Slide 20: Capital Raising
CAPITAL RAISING NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 21: Capital Raising
Capital Raising • Smart Parking is undertaking a fully underwritten pro rata, non renounceable 2 for 5 entitlement offer to raise $12.5m (pre offer costs) (“Entitlement Offer”) • Funds raised will be applied to Smart Parking’s growth strategy as set out below: Activity Yr1 Yr2 One off funding Total
Slide 22: Details
Details Offer Structure 2 for 5 underwritten pro-rata accelerated non-renounceable entitlement offer to raise gross proceeds of circa $12.5m pre offer costs (“ ”) (“I ”) (“ ”) x 83 3 P (“ ”) Approximately 40% of current issued share capital Where fractions arise in the calculation of entit
Slide 23: Arrangements with Finico Pty Ltd and potential effects on control
Arrangements with Finico Pty Ltd and potential effects on control Finico Pty Ltd (Finico), x 19 91% PZ , ’ M ris, also a Director of SPZ, ‐ Pursuant to that agreement, Finico ‐ $12 5 (Finico ‐ ) 100% the Entitlement Offer. The Underwriter has agreed to pay Finico a fee of 0.5% of the Shortfall Alloc
Slide 24: Arrangements with Finico Pty Ltd and potential effects on control
Arrangements with Finico Pty Ltd and potential effects on control F ’ sub- PZ ‘ ’ Finico will be allocated shortfall shares according to the allocation policy set out below: 2 for 5 Entitlement Offer ~$12.5m Institutional Pool Retail Pool ~$5.4m $7.1m Existing entitlements Existing entitlements Shor
Slide 25: Timetable
Timetable Capital Raising Time (AEST) / Date (2014) Announcement of the Entitlement Offer Wednesday, 19 February Institutional Entitlement Offer opens Wednesday, 19 February Institutional Entitlement Offer closes Thursday, 20 February Trading halt lifted. Shares resume trading on an ex-entitlement b
Slide 26: Ineligible Securityholders
Ineligible Securityholders Nominee to administer Ineligible Securityholder entitlements Some securityholders as determined by SPZ are not eligible to participate in the Entitlement Offer due to securities law restrictions on the offer of entitlements in certain jurisdictions (Ineligible Securityhold
Slide 27: Key Risks
Key Risks Introduction An investment in the Company is not risk free and prospective new investors should consider the risk factors described below, together with information contained elsewhere in this Offer, before deciding whether to apply for Securities. The following is not intended to be an ex
Slide 28: Key Risks
Key Risks Legal Disputes The Company is currently in dispute with the vendor of its UK parking business (Vendor) which it acquired in early 2012. The Vendor has lodged claims against the Company seeking various declarations in respect of the sale and purchase documentation (SPA) in respect of the ac
Slide 29: Key Risks
Key Risks Regulation The parking management services industry in the UK where Smart Parking operates such business is generally highly regulated and the introduction of new legislation or amendments to existing legislation by governments, developments in existing common law, or the respective interp
Slide 30: Key Risks
Key Risks Management of Growth and Strategy T ’ f the Offer. The capacity of the ’ ance. Share Market ’ q ’ ance. Share market conditions are affected by many factors such as: • general economic outlook; • interest rates and inflation rates; • currency fluctuations; • changes in investor sentiment t
Slide 31: International Offer Restrictions
International Offer Restrictions No overseas offer No offer will be made to any holder with a registered address outside Australia or New Zealand. The distribution of this presentation in jurisdictions outside Australia may be restricted by law and any such restrictions should be observed. Any failu
Slide 32: Contact
Contact • Paul Gillespie - CEO • + 61 408 790 710 • paul.gillespie@smartparking.com • Richard Ludbrook - CFO • + 64 275 543 661 • richard.ludbrook@smartparking.com • Web: www.smartparking.com 32 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS
Slide 33: Recent Media Coverage
Recent Media Coverage: • http://www.theguardian.com/technology/2014/jan/17/are-londons-drivers-ready-for- the-oyster-card-for-cars • http://www.bbc.co.uk/news/technology-25727117 • http://qz.com/166182/how-london-plans-to-eliminate-the-search-for-a-parking-spot/ • http://www.francetvinfo.fr/grande-b