Gentrack Group Ltd · NZX:GTK
Gentrack — Shareholder Meeting (February 2015)
21 slides from Gentrack's shareholder meeting presentation, Feb 26, 2015
Slide 1: Annual Meeting of Shareholders Presentations
For personal use only 26 February 2015 Gentrack Group Limited (NZX/ASX: GTK) Annual Meeting of Shareholders Presentations Please find attached a copy of the presentations that will be delivered at Gentrack Group Limited’s annual meeting of shareholders today at 4pm in Auckland. ENDS Contact details
Slide 2: Chairman's Address
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ CHAIRMAN’S ADDRESS • JOHN CLIFFORD_
Slide 3: Important Notice
For personal use only IMPORTANT NOTICE_ This presentation should be read subject to and in conjunction with additional information that we have released to the NZX and ASX, and our Investment Statement and Prospectus dated 26 May 2014. That material is available via the Investor Centre on our websit
Slide 4: Shareholders
For personal use only SHAREHOLDERS_ By Country By Type 3% 16% 32% 36% 65% 48% New Zealand Australia Other Directors/Staff Institutions Retail Number of Shareholders 1278 Top 20 Shareholders Hold 79% of the company Largest Shareholders Clifford: 12.6%; Docking: 10.1% Four hold over 5% each Institutio
Slide 5: Results
For personal use only RESULTS_ PFI FY14 4
Slide 6: FY14 Review
For personal use only FY14 REVIEW_ • Operationally 2014 was a successful year for Gentrack • 1 August 2014 – profit downgrade due to two project issues – Contract subsequently signed and project underway for FY15 and FY16 delivery – Dispute issue contained. Some value recovered and potential award o
Slide 7: Gentrack Well Positioned in Changing Utility World
For personal use only GENTRACK WELL POSITIONED IN CHANGING UTILITY WORLD_ • The utility industry is facing structural change – Growth of distributed generation – solar and wind generation – Falling electricity demand in NZ, Aus, UK and many other developed markets – Political focus on cost of energy
Slide 8: Corporate Strategy
For personal use only CORPORATE STRATEGY_ • No change to strategy and FY15 forecast in the prospectus • Guidance for FY15 with half year results in May • Exploring potentially attractive acquisition opportunities in our core markets. These would be additional to organic growth and would deliver shar
Slide 9: CEO Review
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ CEO REVIEW • JAMES DOCKING_ 8
Slide 10: Specialist Software for Utilities and Airports
For personal use only SPECIALIST SOFTWARE FOR UTILITIES AND AIRPORTS_ Meter-to-Cash Billing and CRM Airport Information Management Sites: 150 utilities and airports • 17 countries Offices: Auckland • Melbourne • Brisbane • London 9
Slide 11: Corporate Strategy
T H E S O F T WA R E O F For personal use only C O R P O R AT E S T R AT E G Y _ INFRASTRUCTURE_ AIRPORTS • Continue to win ‘big brand’ Airport customers around the world and expand the product set offered. UTILITIES • Mature NZ Market – look after existing customers. Establish strategic development
Slide 12: FY14 Highlights
T H E S O F T WA R E O F For personal use only FY14 HIGHLIGHTS_ INFRASTRUCTURE_ • Successful implementation of Gentrack’s first Network Company solution in Australia which demonstrates a new market potential • Commenced Gentrack’s largest contract to date for the upgrade of a billing system in Austr
Slide 13: Track Record
For personal use only TRACK RECORD_ Revenue EBITDA 50.0 18.0 45.0 16.0 44.7 40.0 14.0 15.5 40.1 14.0 35.0 38.5 12.0 12.9 30.0 34.3 11.8 32.2 10.0 11.4 25.0 25.9 8.0 20.0 23.6 8.6 7.8 6.0 15.0 10.0 4.0 5.0 2.0 0.0 0.0 2009 2010 2011 2012 2013 2014 2015 PFI 2009 2010 2011 2012 2013 2014 2015 PFI On a
Slide 14: 2014 Results
For personal use only 2014 RESULTS_ Revenue NZ$m EBITDA NZ$m 50.0 15.0 40.0 14.0 14.0 • Revenue and EBITDA were impacted 12.9 30.0 40.1 38.5 40.6 10.0 by a high NZ$ and project/contract 20.0 delays 5.0 10.0 • 2014 NPAT included one-off IPO costs 0.0 2013 2014 2014 PFI 0.0 2013 2014 2014 PFI of $3.9m
Slide 15: Divisional Analysis
For personal use only DIVISIONAL ANALYSIS_ Utilities Revenue x Sector Revenue NZ$m EBITDA NZ$m 36.0 13.5 40.0 15.0 Energy Water Airports Other 33.0 11.8 30.0 1% 10.0 14% 20.0 5.0 10.0 16% 0.0 0.0 2013 2014 2013 2014 69% Airports Revenue NZ$m EBITDA NZ$m 6.0 5.5 1.2 1.1 Despite the high NZ$ Airports
Slide 16: Geographic Analysis
For personal use only GEOGRAPHIC ANALYSIS_ Revenue x Region Revenue NZ$m 25.0 Australia New Zealand UK ROW 5% 20.0 13% 15.0 2013 2014 10.0 55% 5.0 27% 0.0 New Zealand Australia UK Rest of World The UK revenues grew by 40% due to both existing customer sales and new Utility and Airport wins, while th
Slide 17: Product Analysis
For personal use only PRODUCT ANALYSIS_ Revenue x Product Licences Project Services Support Services 0.4 3.8 0.4 Recurring Fees Other 3.4 8.9 8.9 1% 9% 31% 16.0 14.0 23% 11.0 11.8 2013 2014 Recurring Fees Support Services Project Services 36% Licence Fees Other Recurring Fees delivered solid 7.2% gr
Slide 18: Product Development
For personal use only PRODUCT DEVELOPMENT_ NZ$2.2m was fully expensed against R&D projects that were not funded by sales revenue. The R&D expenditure represents 14% of Gentrack’s Software Revenue • Executive Dashboards • Architecture upgrade to reduce delivery costs • CRM: Product Catalogue • Skytow
Slide 19: Staff
For personal use only STAFF_ Average Headcount Staff x Office Staff x Role 250.0 Auckland Melbourne Brisbane London Admin Sales Technical 175 184 191 11% 200.0 9% 3% 6% 150.0 100.0 23% 50.0 63% 0.0 2013 2014 2014 PFI 85% • 20 New Graduate Software Engineers began their careers with Gentrack during 2
Slide 20: FY15 Progress
T H E S O F T WA R E O F For personal use only FY15 PROGRESS_ INFRASTRUCTURE_ • Gentrack is on track to meet the PFI forecast. Strong NZ$ is a headwind • Cash balance at target $4.8 million (Jan 15) following paying the final dividend of $2.6 million in December • To date contracts have been signed
Slide 21: Close
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ CLOSE_ 20