Slide 1: Gentrack Results for the Full Year to 30 September 2016
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ G ENTRACK R ESULTS F O R T H E F U L L Y E A R TO 3 0 S EPTEMBER 2 0 1 6 www.gentrack.com 26 May 2016
Slide 2: Important Notice
For personal use only IMPORTANT NOTICE This presentation contains 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 statem
Slide 3: Agenda
Agenda_ For personal use only • Business Overview • Highlights • FY16 Results and Analysis • Outlook • Appendix – GAAP reconciliation – Supplementary information www.gentrack.com
Slide 4: The Software of Infrastructure
The Software of Infrastructure_ For personal use only • Gentrack’s vision is to be a recognised global leader in the provision of first class enterprise application software to electricity, gas and water utilities, and airports • Our customers include 53 utility sites and 73 airports, predominantly
Slide 5: Headlines
Headlines_ For personal use only • 4 new customers signed • 5 existing customers started upgrades • Engaged on 19 significant software projects for utilities and airports with 10 systems going live • UK team moved to a new office in Thames Valley to support strong growth in the UK market • 28% growt
Slide 6: Financial Highlights
Financial Highlights_ For personal use only REVENUE EBITDA NPAT $52.7m $16.7m $9.6m $9.4m (up 3%) $42.1m (up 25%) $14.5m (up 16%) CASH FINAL DIVIDEND $18.8m 7.70cps $12.4M 7.20cps For the year to 30 September 2016, NZ$ www.gentrack.com For the year to 30 September 2015, NZ$ 3
Slide 7: Comparative Results
Comparative Results_ For personal use only Revenue NZ$m EBITDA NZ$m 60.0 20.0 52.7 16.7 50.0 42.1 14.5 Revenue, EBITDA and Cash 38.5 15.0 40.0 12.9 position showed strong 30.0 10.0 20.0 increases. 5.0 10.0 0.0 0.0 Revenue is up 25% and EBITDA FY '14 FY '15 FY '16 FY '14 FY '15 FY '16 is up 16% again
Slide 8: Divisional Analysis
Divisional Analysis_ For personal use only Utilities Revenue NZ$m EBITDA NZ$m 50.0 44.8 15.0 14.0 Revenue x Sector 40.0 35.6 12.5 30.0 10.0 Energy Water Airports Other 20.0 5.0 1% 10.0 15% 0.0 0.0 FY '15 FY '16 FY '15 FY '16 14% Airports Revenue NZ$m EBITDA NZ$m 10.0 3.0 2.7 7.9 70% 8.0 2.0 6.5 2.0
Slide 9: Geographic Analysis
Geographic Analysis_ For personal use only Revenue NZ$m 30.0 Revenue x Region 25.0 Australia New Zealand ROW UK 20.0 24% 15.0 FY'15 FY'16 10.0 50% 7% 5.0 0.0 19% Australia UK NZ Rest of World • UK full year revenues growth of 75% in 2016 • UK revenues surpassed NZ revenues for the first time • Austr
Slide 10: Revenue Type Analysis
Revenue Type Analysis_ For personal use only Revenue NZ$m Revenue by Product 0.5 3.6 1% 7% 0.4 3.5 18.7 11.6 27% 15.5 13.6 91% OF REVENUES FROM EXISTING CUSTOMERS 36% 13.0 14.4 FY'15 FY'16 Annual Fees Support Services Project Services Other Licence Fees 29% Licences Project Services Support Services
Slide 11: Revenue Type Analysis - Divisional
Revenue Type Analysis - Divisional_ For personal use only Utilities NZ$m Airports NZ$m 0.4 0.1 3.1 0.5 +115% 0.3 0.0 0.2 1.8 -29% 3.2 17.0 +86% 9.1 2.5 2.5 +172% 13.0 +3% 0.9 12.7 3.1 +12% 10.2 11.3 +11% 2.8 FY'15 FY'16 FY'15 FY'16 Annual Fees Support Services Annual Fees Support Services Project Se
Slide 12: Staff Profile
Staff Profile_ For personal use only September Headcount Staff x Region Staff x Role 300 277 280 New Zealand Australia UK Corporate Sales/Marketing Technical 260 9% 19% 5% 240 217 220 200 180 160 140 56% 120 25% 100 FY'15 FY'16 86% • Headcount increased by 28% over prior year • Recruitment was a key
Slide 13: Outlook
Outlook_ For personal use only • Remain confident of long term growth driven by Australian and UK market opportunities and structural reforms in power and water sectors • Expect to continue to deliver long term revenue and EBITDA growth of 10%+, albeit that results may be impacted by the timing of p
Slide 14: Appendices
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ Outlook_ APPENDICES www.gentrack.com 9
Slide 15: GAAP to non-GAAP Profit Reconciliation
Appendix_ For personal use only GAAP to non-GAAP Profit Reconciliation_ GAAP to non-GAAP profit reconciliation 12 Months 12 Months Period 30-Sep-15 30-Sep-16 Reported net profit for the period (GAAP) 9,365 9,608 Add back: amortisation 2,017 2,015 Add back: tax adjustment for amortisation (560) (533)
Slide 16: Gentrack provides mission critical software for energy utilities, water companies and airports
GENTRACK PROVIDES MISSION CRITICAL SOFTWARE FOR For personal use only ENERGY UTILITIES, WATER COMPANIES AND AIRPORTS • Organic growth accumulating more than 2 decades of deep domain expertise and IP • Deeply embedded solutions - long term customer relationships • Highly flexible and scalable enterpr
Slide 17: Proven solutions that enable change and innovation
PROVEN Solutions that enable change and innovation_ For personal use only • PRICE AND TARIFF • FLIGHT DISPLAY SYSTEMS MANAGEMENT • AIRPORT COLLABORATIVE • MULTI-PRODUCT BILLING DECISION MAKING (CDM) • CUSTOMER SERVICE • RESOURCE MANAGEMENT – + CALL CENTRE AND SELF-SERVICE GATES, CHECK-IN; BAGGAGE •
Slide 18: A highly differentiated proposition
For personal use only A HIGHLY DIFFERENTIATED proposition_ • Mission critical core enterprise systems for utilities and airports • An IP company demonstrating continual investment in R&D • We solve complex integration challenges for our customers – high value unique skills • Deeply embedded solution
Slide 19: Utility Market Growth Drivers
UTILITY Market Growth Drivers_ For personal use only DEREGULATING UK WATER AGING LEGACY ENERGY SECTOR CONTESTABLE BILLING SYSTEMS - Retail contestability - Non-household 2017; - Not supporting and distributed Households by 2020 competitive energy generation markets SMART METER RISE OF NEW SMART GRID
Slide 20: Growth Opportunities in Existing Markets
GROWTH OPPORTUNITIES IN EXISTING MARKETS_ For personal use only UK/IRELAND UK THREE CORE REGIONS FOR UTILITIES GROWTH 150 Utility Sites 4% • Australia • New Zealand AUSTRALIA AUST • United Kingdom & Ireland • 53 Utilities use Velocity 285 Utility Sites 8% Est. Market Share AIRPORTS ~17,500 Commercia
Slide 21: Growth – FY16
For personal use only Growth – FY16_ 60 NZ$000 FY15 FY16 ∆% CONSTANT 7 Year CAGR CURRENCY* 50 - Revenue: 12.2% - EBITDA: 11.6% Revenue 42,069 52,734 25% 53,745 40 EBITDA 14,464 16,727 16% 17,107 30 NPATA 10,822 11,090 2% 11,470 20 NPAT 9,365 9,608 3% 9,987 Net Cash Balance 12,372 18,818 10 Final Div