Gentrack Group Ltd · NZX:GTK
Gentrack — H1 FY2021 Earnings Presentation
18 slides from Gentrack's earnings presentation, May 27, 2021
Slide 1: Gentrack Group FY21 Half Year Update
Gentrack Group FY21 Half Year Update 27 May 2021 © Gentrack 2021. All rights reserved.
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. Forward-looking statements often include words such as ‘anticipate’, ‘expect’, ‘plan’ or similar words in connection with discussions of future operating or financial performance. The forward-looking statements are based on managem
Slide 3: CEO Commentary
CEO Commentary Gary Miles Chief Executive Officer © Gentrack 2021. All rights reserved.
Slide 4: HY 2021 - CEO Commentary
HY 2021 - CEO Commentary • Performance is improving, cash is strong and the business is functioning in a much more efficient and impactful way. Delivery and throughput have accelerated and the leadership team is working well together. • Overall revenue is up which is a result of us effectively repos
Slide 5: H1 FY21 Financial Headlines
H1 FY21 Financial Headlines REVENUE ARR EBITDA1 NPAT NET CASH Statutory $51.0m $40.4m $7.0m -$1.1m $22.4m Up 0.7% on H1'20 Up 1.5% on H1'20 Up 63.2% on H1'20 Down 8.8% on H1'20 Up 33.5% vs 30 Sept 2020 (adjusted) • EBITDA of $7.0m, up 63.2% from H1'20 • Continued strong cash generation, net cash is
Slide 6: Business Momentum and Delivery & Execution
Business Momentum Delivery & Execution We have strengthened our client facing teams in all Our global delivery organization is in place and regions and are driving a strong customer centric customer success is moving into a much healthier, program. high performance state. We have new wins with CNG a
Slide 7: Technology Update and Veovo Update
Technology Update Veovo Update Committed to having the latest cloud technology solutions and accelerating this investment On boarded key technology partners to fast-track innovation – AWS, Contino, Snowflake and Qlik are - The airline and airport Industry is still facing headwinds and we continue to
Slide 8: Financial Results
Financial Results For the 6 months ending 31 March 2021 James Spence Chief Financial Officer © Gentrack 2021. All rights reserved.
Slide 9: Group Profit and Loss
Group Profit and Loss Utilities Veovo Group EBITDA up 63.2% in H1’21 vs PCP Revenue growth in Core Utilities business driven by new customers and increases from existing customers Continued focus on cost management driving efficiency No R&D capitalisation in H1'21 Veovo project revenues impacted by
Slide 10: Utilities Revenue Analysis
Utilities Revenue Analysis Utilities Revenue by Geography H1'21 vs H1'20 Utilities Revenue H1'20 v H1'21 United Total Revenue Up 6.3% on H1'20 Kingdom $40.0m $42.5m Annual Recurring Australia Revenue $34.9m Up 0.9% on H1'20 - New 82.1% of total utilities Zealand revenue H1'20 H1'21 Committed Monthly
Slide 11: Veovo Revenue Analysis
Veovo Revenue Analysis Veovo Revenue by Geography H1’21 VS H1’201 Veovo Revenue H1'20 VS H1'21 Total Revenue $10.6m Down –19.8% on H1'20 Europe $8.5m Annual Recurring Americas Revenue $5.5m Up 5.8% on H1'20 - 64.7% of total APAC Veovo revenue H1 20 H1 21 Committed Monthly Recurring Revenues Non-cont
Slide 12: Expenditure Analysis
EXPENDITURE ANALYSIS NZ$m Group Costs FY20 H1 v FY21 H1 (NZ$m) Capitalised Development Costs (NZ$m) $5.1m FY19 $0.3m $0.0m FY20 H1'21 H1'20 Personnel Direct Costs Travel Other H1'21 Gentrack Costs HoH FY20-21 (NZ$m) NZ$m • Investment in Human capital has seen personnel costs increase in H1'21 vs pri
Slide 13: Cashflow/Balance Sheet
Cashflow/Balance Sheet EBITDA to Net Cashflow H1'21 (NZ$m) 30 31 March September 2021 2020 Cash $19.3m $25.0m Debt $2.5m $2.6m a280cc Net Cash $16.8m $22.4m H1 FY2021 Change in Share Schemes Tax Other FY21 Net CF EBITDA WC (Non Cash) "other" includes lease and interest costs • H1'21 net cash generat
Slide 14: Outlook update
Outlook update In February 2021 Gentrack Group Limited (NZX/ASX: GTK) (“Gentrack”) advised that it expected full year EBITDA to be around $5m and revenues in line with FY20 of $100.5m. With the turnaround accelerating, Gentrack now provides the following outlook update: • FY21 revenues are expected
Slide 15: Next Steps
Next Steps • Our Investor Strategy Session is being held on the 16th June – we’ll share our forward looking plan there. Please do join us. • We won’t be taking analyst calls from today’s presentations – please do ask questions at the end of the presentation. • Happy to deal with any further clarific
Slide 16: Q&A
Q&A © Gentrack 2021. All rights reserved. 16
Slide 17: GAAP to Non-GAAP Profit Reconciliation
GAAP to Non-GAAP Profit Reconciliation 6 Months 6 Months Full Year NZ$m 31 Mar 21 31 Mar 20 30 Sept 20 Unaudited Unaudited Audited (1.1) (12.8) (31.7) Reported net (loss)/profit for the period (GAAP) 1.3 (0.9) 0.4 Add: Net finance Expense 1.4 (0.7) (2.6) Add: Income Tax expense 5.4 6.4 12.4 Add: Dep
Slide 18: FY21 on a Constant Currency Basis
FY 21 on a Constant Currency Basis H1'21 NZ$m H1'20 H1'21 Constant Difference % Currency Revenue 50.6 51.0 52.2 1.2 2.4% Operating Costs 46.4 44.0 45.2 1.2 2.7% EBITDA 4.3 7.0 7.0 0.0 0.0% Statutory NPAT (12.8) (1.1) (1.4) (0.3) (27.3%) EBITDA Constant Currency difference is $14 © Gentrack 2021. All