Smart Parking Limited · ASX:SPZ
Smart Parking — Investor Presentation (August 2021)
29 slides from Smart Parking's investor presentation, Aug 23, 2021
Slide 1: FY21 Results
Smart Parking Limited (ASX:SPZ) FY21 Results 23 August 2021 CEO Paul Gillespie smartparking.com
Slide 2: 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 Sites Managed - ANPR Parking management services 619 Provision of parking management solutions, predominantly servicing the retail sector, managing age
Slide 3: FY21 Highlights – Recovery Underway
FY21 Highlights – Recovery Underway 619 Adjusted EBITDA Growth in parking Total $2.2m up breach notices up 354% 278% sites up 25% *As of 30 June 2021 compared to PCP *Compared to PCP *Q4 FY21 compared to PCP Cash of $ 1.1m 1,000 $ 10.7m *At 30 June 2021 Spent on share buy-back since March Sites grow
Slide 4: Business Update
Business Update | Improving growth trajectory as UK restrictions ease and expanding addressable markets in New Zealand and Australia • UK Parking Services business experiencing rapid growth as COVID-19 restrictions ease, with all key metrics at or around pre-pandemic levels • Completed acquisition o
Slide 5: FY21 Financial Update
Pp SMART Financial Update
Slide 6: FY21 Results – Strong Q4 momentum
FY21 Results – Strong Q4 momentum Group Profit & Loss (m) – Earnings positive 7,222 FY211 FY201 1,574 Revenue (excluding interest) 20.7 21.5 Cost of Sales (8.0) (9.3) 5,129 5,055 Gross Profit 12.7 12.2 849 Overheads1 (10.5) (13.1) 562 3,265 Adjusted EBITDA1 2.2 (0.9) Depreciation & Amortisation (3.6
Slide 7: Free cash flow positive
Cash Flow Waterfall (m) Free cash flow positive 3.6 2.7 4.3 • Cash on hand of $10.7m as at 30 June 2021. • Positive adjusted operating cash flow of $3.0m, up 134% compared to PCP. 3.0 • Growth Capex of $2.0m including ANPR camera (2.0) equipment which will benefit future periods. • Average payback f
Slide 8: Segment reporting | Parking Management
Segment reporting | Parking Management | Operating leverage drives margin expansion with adjusted EBITDA up 36% on PCP 36% Parking Management (000s) 7,650 Adjusted 21,691 4,233 EBITDA 6,717 up 6,947 (1,213) *Compared to PCP 3,609 17,243 16,259 3,103 Adjusted EBITDA margin up 800bps to *Compared to P
Slide 9: Segment reporting | Technology
Segment reporting | Technology | Technology turned profitable 4,233 7,650 6,717 Technology (000s) 6,947 (1,213) (1,774) 278 $ 3.3m Committed orders Adjusted EBITDA 116% 3,103 up *Compared to PCP Adjusted EBITDA margin 4.0% (15.9%) (26.4%) Adjusted EBITDA Revenue Adjusted EBITDA FY19 FY20 FY21 FY21 F
Slide 10: Operating expense analysis
Operating expense analysis | Benefiting from proactive cost management Overhead Expenses (000s) 20% overhead reduction 13,121 1,622 220 118 101 298 10,504 89 169 FY20 Net Headcount Salary Savings Marketing Travel Motor Other FY21 Operating Reduction Reductions from UK Staff Expenses Expenses Vehicle
Slide 11: Strong balance sheet to fund growth strategy
Group Financial Position (m) $m Jun-21 Jun-20 Strong balance sheet to fund Current assets 20.4 11.9 growth strategy Non-current assets 19.4 22.2 • $10.7m of cash – capital to fund growth strategies • The Company drew down a UK Coronavirus Business Total assets 39.8 34.1 Interruption Loan for $2.7m i
Slide 12: Enterprise Parking Solutions acquisition
Enterprise Parking Solutions acquisition | Building scale in UK parking management Sites Managed 68 • Acquired Enterprise Parking Solutions (EPS) in CA GR % 139 45 August 2021 for $1.5m funded from cash reserves 20 • 68 sites under management 5 2018 2019 2020 2021 • Revenue of $0.54m for 3 months en
Slide 13: FY21 Business Update
SMART = PARKING Business Update
Slide 14: UK pandemic tracker
UK pandemic tracker | Strong recovery in Q4 – vaccination progress continues, and PBNs now exceeding pre-pandemic levels. PBNs Issued vs Car Count 23 March 2020 50,000 UK lockdown commences 11,000,000 1 June 2020 40,000 10,000,000 Some primary schools start returning 9,000,000 35,000 15 June 2020 No
Slide 15: Management services – growing the estate
Management services – growing the estate Site Reconciliation FY21 105 720 123 Net new sites added (4) EPS (68) APAC (7) in FY21 56 619 1,000 UK (30) UK (50) 85 (13) 576 APAC (6) (5) 496 389 Sites growth target Growth by June 2023 target: 1,000 180 sites under 286 management expected by June 2023 Net
Slide 16: Multiple growth drivers
120% PM Lockdown Lockdown Some non-essential Some pubs allowed 10pm curfew Local England in Announcement begins extended shops allowed to re-open begins COVID-19 lockdown to re-open alert levels 100% Easter Sunday 80% Multiple growth drivers 60% 40% | Continued recovery to pre COVID-19 levels with i
Slide 17: APAC growth strategy – NZ
APAC growth strategy – NZ • Opportunity to deploy SPZ’s market leading ANPR technology and specialist expertise to provide more Per month value for car park site owners, and disrupt a legacy, PBNs per site 300 fragmented and inefficient industry Revenue 10,236 • SPZ has access to national car owner
Slide 18: APAC growth strategy – Australia
APAC growth strategy – Australia • Opportunity to deploy SPZ’s market leading ANPR technology and specialist expertise to provide more value for car park site owners on a selected state basis • Legacy industry with inefficient solutions for site owners. Opportunity to provide more value with consist
Slide 19: Global technology update
Global technology update Contract and margin expansion: • Delivery of new smart city compliance platform, Tessera to new customers in Australia and strong pipeline development across APAC • Contract extensions delivered with key customers in Wellington, Melbourne and Hamilton • With contract extensi
Slide 20: Global technology update
Global technology update Product development delivering value to new and existing customers: • Through our growing Services relationship with KFC we are leveraging our technology expertise to transform the Click & Collect customer experience • Utilising ANPR, digital signage and our sensing devices
Slide 21: Smart Parking outlook
Smart Parking outlook | Strong recovery expected as the Pandemic restrictions ease • June momentum continues into new financial year, strong start to FY22, 41,885 PBNs issued in July • Robust pipeline of signed contracts and new sales opportunities - 55 UK, 10 APAC expected in Q1 FY22 • Current Covi
Slide 22: Supplementary Information
“PARKING Supplementary Information
Slide 23: Segment reporting
Segment reporting Adjusted Revenue EBITDA EBITDA Margin (000’s) FY21 FY21 FY20 FY21 FY20 FY21 FY20 FY21 vs FY20 vs FY20 Parking Management 17,244 16,259 (5.7%) 3,103 4,232 36.4% 18.0% 26.0% Technology Division 6,718 6,947 3.4% (1,775) 279 115.7% (26.4%) 4.0% Research & Development 0 0 (1,002) (983)
Slide 24: Smart City Product Launch
Smart City Product Launch 6 PARKING MAP CASE – NEW Valve Position Proximity Infringement FRONT L R Dashboard PWX836 IN-PROGRESS 6m Infringement policy* Cases McNab St, Penrose, Auckland... CASE – NEW Payment Expired Overstay 04:45 pm – Thu 23 Jan 2020 Map 29 Walls Rd, Penrose, Location Type* Unassig
Slide 25: 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 26: 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 27: Technology: How it works
Technology: How it works | Smart Parking’s technology provides effective parking management solutions around the world. Technology: How it works Digital Displays Air Quality | Smart Parking’s technology provides effective parking management Lighting Surveillance solutions SmartCloud around the world
Slide 28: Smart Parking app
Smart Parking app | The Smart Parking app and its customised Miami, Cardiff, Adelaide, Moreton Bay, Moonee Valley, Livingstone Shire and Les Mills apps delivered. Features and benefits: • Available for both Android and iOS. • Provides detailed information around hours, tariffs and bay types. • Shows
Slide 29: Glossary Smart Parking 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