Slide 1: Results Presentation August 2013
For personal use only Results Presentation August 2013 Paul Gillespie: CEO Richard Ludbrook: CFO
Slide 2: Agenda
Agenda For personal use only • Introduction – Paul Gillespie CEO • Financial Report – Richard Ludbrook CFO • Technology Division update – Paul Gillespie • Parking Management Services Division update – Paul Gillespie 2
Slide 3: Overview FY 12/13 Negatives
Overview FY 12/ 13 Negatives For personal use only • FY 2012/13 was a difficult year with legacy issues and weaker results • Long lead times for technology sales, up to 18 months to close deals • Large number of legacy tax issues in UK parking management business • One off DVLA (Driver Vehicle Licen
Slide 4: Overview FY 12/13 – Positives
Overview FY 12/ 13 – Positives For personal use only • NEW sales team and structure • NEW strategy • NEW products including RFID • NEW and growing sales pipeline • NEW and successful marketing campaign launched • NEW people & systems in place – ready for growth • Retained and growing management serv
Slide 5: Financial Results
For personal use only Results Presentation August 2013 Financial Results Richard Ludbrook: CFO
Slide 6: Financial Performance - Technology
Financial Performance - Technology For personal use only % % of ($000’s) 2013 2012 Change Total New Zealand 652 742 (12%) 27% Australia 174 848 (79%) 30% United Kingdom 596 787 (24%) 28% South Africa 353 321 10% 12% Middle East 13 97 (87%) 3% Other 27 11 145% 0% Total Revenue 1,815 2,806 (35%) 100%
Slide 7: Financial Performance – Parking Management
Financial Performance – Parking Management For personal use only (A$000’s) 2013 2012 Revenue 19,218 10,209 Operating Costs (19,213) (10,772) Management EBITDA 5 (563) • 2012 included 6 months results post acquisition. • Focus in the UK has been on rolling out technology and getting the platform in p
Slide 8: Revenue – Parking Management
Revenue – Parking Management For personal use only % % of ($000’s) 2013 2012 Change Total Management Fees 5,169 5,530 (7%) 27% P&D Income 8,211 8,614 (5%) 43% Civil Penalties 4,293 3,685 17% 22% Marshalling 1,101 2,123 (48%) 6% Other 443 1,503 (71%) 2% Total Revenue 19,217 21,455 (10%) 100% • Reduct
Slide 9: Group Financial Performance
Group Financial Performance For personal use only (A$000’s) 2013 2012 Revenue 20,448 12,429 EBITDA (4,896) (15,881) Net Profit/(Loss) (7,020) (17,029) Excluding One Offs (4,338) (3,154) • 2012 included 6 months results for the UK parking management business. • 2012 included write off goodwill of $11
Slide 10: Group Financial Position
Group Financial Position For personal use only ($000’s) 2013 2012 Current Assets 12,244 20,526 Non Current Assets 10,532 11,516 Total Assets 22,776 32,042 Current Liabilities 9,173 12,154 Term Liabilities 213 ‐ Total Equity 13,390 19,888 • Cash balances $2.5m (excluding client cash). • Receivables o
Slide 11: Capital Structure
Capital Structure For personal use only Shares on Issue 208,308,602 Current Market Capitalisation $33.3M ($0.16 @ 27 Aug) • 36% (74,175,229) of shares held by the Board and Management. 11
Slide 12: Group Working Capital
Group Working Capital For personal use only ($000’s) 2013 2012 Working Capital 3,072 8,373 Working Capital Ratio 1.3 1.7 12
Slide 13: Use of Funds
Use of Funds For personal use only A$000 Opening cash 10,973 Fixed asset additions (1,751) Sale of non core 763 property UK legacy tax (1,474) UK Client Cash (2,285) Restructuring and (646) non recurring costs Other movements (980) Closing cash 4,600 • Fixed asset additions relates to the technology
Slide 14: Sources of future Funds
Sources of future Funds For personal use only • Sale of non core property in the UK - $1.2m • Working capital loan facility of up to $3m ($1m currently drawn) from entities associated with 2 Directors. • Overdraft facility of $1.1m 14
Slide 15: Technology Division
For personal use only Results Presentation August 2013 Technology Division Paul Gillespie: CEO
Slide 16: Key Points since last update
Key Points since last update For personal use only Business Objectives 2013: • Build the right team – right people in right places - complete • Create sales focused environment in UK, NZ & Aus - complete • Create distribution network – sell through distribution – on-going • Sell more service - grow
Slide 17: SPT Sales Structure & Strategy
SPT Sales Structure & Strategy For personal use only Paul Gillespie CEO NZ Commercial Manager EMEA Sales Manager AUS Sales Manager USA Sales Manager Direct Sales Direct & Indirect Indirect Indirect Pipeline since May 13 ‐ Pipeline since May 13 ‐ Pipeline since May 13 ‐ Pipeline since May 13 ‐ AUD$4.
Slide 18: New Installations
New Installations For personal use only • Auckland Airport guidance system, 300 bays installed and quoted for additional work • New Plymouth (NZ) extension, over 1,500 bays now installed on street • Version 2 sensors installed on-street in Cambridge NZ • Extension of 1,000 bays in Cape Town now comp
Slide 19: Technology Sales Activity
Technology Sales Activity For personal use only Direct Sales: • New sales people in place and growing pipeline in NZ, UK, Aus and US • Westminster tender complete and submitted on the 12th August – contract award is scheduled for the 21st October • UK Local government direct selling campaign underwa
Slide 20: Technology Sales Activity – Reseller
Technology Sales Activity For personal use only Reseller Sales Activity: • Reseller trials underway in: • Birmingham City Council & Amey – Smart App live • Edinburgh - NSL • Sausalito, California – App live with Voice Park • Sydney, Bondi – Smart App live • New resellers signed in US, UAE and Europe
Slide 21: Marketing
Marketing For personal use only • Smart Thinking Newsletters being sent once per quarter – Smart Thinking 3 to be sent in September • New global website complete and live from July 1st – www.smartparking.com • Rebrand of the Technology business complete July 1st • Direct marketing/ Smartpark campaig
Slide 22: R&D Update
R&D Update For personal use only • Smartrep Version 2 software delivered and live in 3 locations • RFID development on track for delivery in October – test sites providing good results • Version 2 sensor on track for delivery in October – testing complete and successful • Smart App live in 4 locatio
Slide 23: RFID (Radio Frequency Identification)
RFID (Radio Frequency Identification) For personal use only • The intelligent RFID system can identify a specific driver or class of driver to a parking location and monitor and record parking details. This means that parking permit holders including residents, relevant employees and loading users c
Slide 24: RFID: How does it work?
RFID: How does it work? For personal use only • Activated sensor “talks” to the RFID tag in the car and communicates driver data to server. • If the car is a permitted user, e.g. a resident, disabled parker, business user, the parking account associated with the tag is debited (similar to e-tag for
Slide 25: RFID – where can I use it?
RFID – where can I use it? For personal use only Applications and opportunity to use RFID with sensors: • On street parking – park and walk, no payment required • Interface with E-Tag • Residents parking – RFID tag becomes the permit • Disabled drivers tag – stops disabled parking bay abuse • Hospit
Slide 26: Parking Management Services Division
For personal use only Results Presentation August 2013 Parking Management Services Division Paul Gillespie: CEO
Slide 27: Progress and Status
Progress and Status For personal use only People: • Head of Operations recruited standardising procedures & driving regional profitability • Operational restructure completed, clear focus on service delivery & profitability Technology: • Customer help desk service application installed and running s
Slide 28: New Birmingham Office
New Birmingham Office For personal use only 28
Slide 29: Parking Management Sales Activity
Parking Management Sales Activity For personal use only • Targeting new vertical markets including transport, government and health. Clients include: Transport for London, First Great Western & Oxfordshire NHS Trust • Developed direct management services sales pipeline • Parking Management sales pip
Slide 30: Marketing
Marketing For personal use only • Registered with Parking Network - http://www.parking-net.com/ - global parking sales website • Launched new Pay and Walk and SmartPark propositions in the European market • Newsletter – quarterly distribution to all clients, prospects and distributors • Campaign man
Slide 31: Operations
Operations For personal use only • Creating a target driven environment focused on yield management cost reduction and revenue increase • Continued focus on costs, overheads reduced by 35% compared to FY11/12 • Outsourced cash collection to reduce risk and deliver operational efficiencies • Outsourc
Slide 32: Operations
Operations For personal use only • Action plan underway to improve our leased car park sites with the majority now successful with industry accreditations for safety & security • Manual infringement tickets reduced from 200,000 to below 10,000 per year through the introduction of hand held and camer
Slide 33: Clients
Clients For personal use only • Retained three major client contracts as a result of competitive tender and benchmarking exercises – ASDA, Co-Op and Sainsbury • Continued to focus on retaining clients by improving service and introducing new innovative technology • Completed client profitability ana
Slide 34: Property
Property For personal use only • Ashton lease will terminate in September 2013 – All field teams will be based from new Birmingham location • Bootle and Oldham properties sold • Heads of Terms received as a result of a Compulsory Purchase Order placed on a car park in Bolton, completion date estimat
Slide 35: Contact
Contact For personal use only • Paul Gillespie • + 61 408 790 710 • paul.gillespie@smartparking.com • Richard Ludbrook • + 64 275 543 661 • richard.ludbrook@smartparking.com 35