Smart Parking Limited · ASX:SPZ
Smart Parking — Investor Presentation (August 2024)
31 slides from Smart Parking's investor presentation, Aug 26, 2024
Slide 1: FY24 Results
Smart Parking Limited (ASX:SPZ) FY24 Results 26 August 2024 CEO Paul Gillespie smartparking.com
Slide 2: FY24 Highlights
FY24 Highlights Revenue of $54.31m up Adjusted EBITDA Adjusted EBITDA $14.7m2 up margin of 27% up 21% 28% 150bps 2 1 * Compared to PCP * Compared to PCP * Compared to PCP 1,424 Cash of Adjusted free cash Total flow of $12.2m3 up 40% sites up 28% * As at 30 June 2024 compared to PCP * Compared to PCP
Slide 3: Record FY24 results
Record FY24 results Delivering Record results | CEO Observations Total Group ANPR sites 1,424 - Disciplined execution of strategy delivers continued growth - 21% revenue growth, 27% adjusted EBITDA margin 1,112 - Adjusted free cashflow up 40% 1 % 31 - Strong organic growth in the UK, NZ and Germany
Slide 4: Growth strategy - FY24
Growth strategy - FY24 | Leveraging core technology and capability in new territories NEW UK NZ Australia (QLD)1 Germany Denmark • Business established GROWTH IN 1,124 total sites 162 total sites 71 total sites 67 total sites in January 2024 ANPR SITES 21% up on PCP 93% up on PCP 0% up on PCP 148% u
Slide 5: FY24 business update
FY24 business update | Record results, expanding market opportunities to accelerate growth. FINANCIAL EXPANSION OUTLOOK • Record results – • Completed 2 new acquisitions in • Positive outlook for further profitable growth Revenue $54.31m and Adjusted Germany and UK whilst expanding into in FY25 - on
Slide 6: FY24 Financial Update
FY24 Financial Update FY24 Results Presentation | smartparking.com | PAGE 6
Slide 7: FY24 business update
FY24 business update Revenue increased 21% due to the expansion | Balancing growth and investments. of sites under management by 28%, demonstrating revenue growth in all territories $m’s FY24 FY23 FY24 vs FY23 except Queensland Group Profit & Loss ($m) Revenue (excluding interest revenue) 54.3 45.1
Slide 8: Revenue growth
Revenue growth UK parking management revenue | Revenue up 21% from increased sites under management and growth of 21% compared to FY23. expansion into new territories ($000s) German Parking Management revenue (excl. PI acquisition) 1,648 1,370 of $1.4m up 215% on PCP 970 (FY23: $0.5m). 1,230 54,346
Slide 9: Positive free cash flow
Positive free cash flow | $7.2m cash to fund growth strategy and shareholder returns Cash on hand of $7.2m as at 30 June 2024. Cash Flow Waterfall ($m) Adjusted free cashflow of $12.2m up 40% on PCP. Adjusted free cash flow of $12.2m1 Minimal maintenance CAPEX required - capital light business model
Slide 10: Operating expense analysis
Operating expense analysis | Increased costs reflect scaling territories for growth and acquisition of ParkInnovation Overheads includes $1.3m from ($000s) businesses acquired during the year 407 339 22,800 684 1,124 169 $0.5m reduction in personnel costs (490) 19,674 893 in Australia related to the
Slide 11: Strong balance sheet to fund growth strategy
Strong balance sheet to fund growth strategy $7.2m of cash – capital to fund growth strategies. Group Financial Position ($m) The Company is debt free in August 2024 $m Jun-24 Jun-23 following the final payment of the UK Coronavirus Business Interruption Loan. Current assets 24.7 25.8 Advanced negot
Slide 12: FY24 Business Update
FY24 Business Update FY24 Results Presentation | smartparking.com | PAGE 12
Slide 13: Growth strategy - multiple drivers
Growth strategy – multiple drivers | Three key pillars for growth Organic growth New territories Acquisitions Growth in sites = growth in PBNs = Good pipeline revenue & profitability of opportunities High incremental margin leveraging existing fixed Adding scale where SPZ have cost base Investigatin
Slide 14: Entering the next growth stage - additional new territories
Entering the next growth stage - additional new territories March Completed the | Disciplined acquisition track record - acquisition of the February assets in Local complements strong organic growth Parking Security 2024 Successfully launched working to upgrade suitable a technology sites in the UK
Slide 15: Site roll-out progressing, with December growth target in reach
Site roll-out progressing, with 1,500 ANPR site target - will be December growth target in reach delivered before December. | Site growth continuing in FY24, 302 new ANPR sites added in FY24, 1,465 1,424 global ANPR sites 1,424 total 1,424 at 30 June 2024. under management at 30 June ANPR target: 1,
Slide 16: Strong growth underway
Strong growth underway | FY24 record PBNs issued, up 22% vs PCP FY24 growth delivered Parking Breach Notices Issued FY24 PBN’s Issued % by Country PBN growth up 22% on PCP. FY24 Average Quarterly PBNs 213,918 (up 22% on FY23) Continuing to expand and enhance 241,429 23% sales and account management
Slide 17: New territory growth underway
New territory growth underway NZ: NZ continues to show strong growth with 93% | Successfully scaling new territories increase in sites under management. Attractive market with limited competition and Sites Parking Breach Notices Issued Revenue (000s) significant potential for growth. H1 FY24 new ter
Slide 18: New territory - Denmark
New territory - Denmark - Through research we identified Denmark as a market where SPZ can leverage our market leading technology and deep industry knowledge - SPZ established its Danish business in Jan of 2024 with the Managing Director starting on 1 Feb - The SPZ technology has been utilised to ac
Slide 19: Regulatory update
Regulatory update UK regulatory update Positive dialogue ongoing with the new Ministers and department responsible for parking From July 1 the British Parking Association (BPA) and the International Parking Community (IPC) have come together to provide a Single Code of Practice – this is designed to
Slide 20: FY25 priorities
FY25 priorities | Strong start to FY25, year has commenced with positive growth 01 02 03 04 05 SPZ is growing FY25 will be another Expanding into large $7.2m of cash on Continued focus strongly, is year of profitable addressable markets hand to fund organic on international profitable and cash growt
Slide 21: Q&A
Smart Parking Limited (ASX:SPZ) Q&A smartparking.com
Slide 22: Supplementary Information
Supplementary Information FY24 Results Presentation | smartparking.com | PAGE 22
Slide 23: Smart Parking Ltd (ASX:SPZ)
Smart Parking Ltd (ASX:SPZ) A global company focused on delivering industry leading technology innovations and solutions within the parking industry Parking management services Provision of parking management solutions, predominantly servicing the retail sector, managing agents and land owners acros
Slide 24: Segment reporting
Segment reporting Adjusted Revenue Adjusted EBITDA EBITDA Margin ($000’s) FY23 vs FY23 vs FY23 FY24 FY23 FY24 FY23 FY24 FY24 FY24 Parking Management 41,170 51,526 25.2% 11,410 12,303 7.8% 27.7% 23.9% Technology Division 7,563 6,276 (17.0%) 2,031 3,783 86.3% 26.9% 60.3% Research & Development - - - (
Slide 25: Adjusted EBITDA
Adjusted EBITDA | Adjusted EBITDA excludes the following: EBITDA Adjustments FY24 FY23 Foreign exchange (gains)/losses 0.2 (1.2) Professional fees related to completed and evaluated business acquisitions (UK & Germany) 0.4 0.6 Professional fees related to regulatory matters (UK and Queensland) 0.3 -
Slide 26: Management services - ANPR estate growth
Management services – ANPR estate growth | Over 1,400 global sites under management ANPR Site Reconciliation FY24 239 1,424 LPS (68) (34) APAC/Germany (62) UK (109) 131 APAC/Germany (56) 1,219 UK (75) (24) 1,112 Growth target affirmed: 1,500 global 839 sites under management before December 619 2024
Slide 27: Management services: How it works
Management services: How it works | Parking management improving customer satisfaction and revenue generation. • ANPR | Automatic Number Plate Recognition • Pay & Display | ANPR Linked Automated Payment System • Site Surveys | Real-time information, analysis and trend data • Parking Attendants | Tra
Slide 28: ANPR: How it works
ANPR: How it works | Automatic number / license plate recognition (ANPR) is a reliable, cost effective off-street parking management solution. It is proven to serve a wide range of industries including supermarkets, retail, hotels, hospitals and leisure centres. Smart Parking’s ANPR solution ensures
Slide 29: Smart Parking Technology - Smart Vision
Smart Parking Technology - Smart Vision Provides a revolutionary way to improve Smart Parking continues to innovate in order to drive growth and vehicle number plate recognition managed by Smart Parking - with a particular focus on efficiency in the business. In FY24 our R&D team delivered new produ
Slide 30: Smart Parking Technology - Smart Cloud Hub
Smart Parking Technology - HUB is a customer portal that lets land Smart Cloud Hub owners and Smart Parking customers see what’s really happening on their sites Smart Parking continues to innovate in order to drive growth and A full reporting suite allows customers to view efficiency in the business
Slide 31: Glossary and legal disclaimer
Glossary Adjusted EBITDA – The Board assesses the underlying performance of the Group based on a measure of Adjusted EBITDA which takes into account costs incurred in the current period but which are non-operating and/or are not expected to occur in the future. EBITDA – represents Earnings before in