Slide 1: The Software of Infrastructure: 2015 Results
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ 2 0 1 5 R E S U LT S For the year to 30 September 2015 www.gentrack.com
Slide 2: Important Notice
For personal use only IMPORTANT NOTICE This presentation supplements our full year results announcement dated 26 November 2015. It should be read subject to and in conjunction with the additional information in that release, other material that we have released to NZX and ASX, and our Investment Sta
Slide 3: The Software of Infrastructure
For personal use only T H E S O F T WA R E O F I N F R A S T R U C T U R E _ • Gentrack’s vision is to be a recognised leader in the provision of enterprise application software to electricity, gas and water utilities, and airports • Our customers already include 51 utility sites and 61 airports, pr
Slide 4: Results
For personal use only R E S U LT S _ • Revenue increase by 9.2% on FY14 to $42.1m • Recurring Fees up by 10.1% to $13.0m • UK revenues up by 44.1% to $7.2m • Airports revenue up by 15.7% to $6.4m • EBITDA increased by 10.9% to $14.5m • NPATA increased from $4.8m to $10.8m • NPAT increased from $3.4m
Slide 5: Highlights
For personal use only HIGHLIGHTS_ • Won billing system for a major water company in the UK • Won 5 new customers across Australia and the UK • Commenced 6 upgrade projects — including our largest contract to date • Successfully took 8 systems into Live operation • Worked on 22 new implementation and
Slide 6: Results
For personal use only R E S U LT S _ NZ$000 FY14 FY15 ∆% PFI Revenue 38,531 42,069 9.2% 44,695 EBITDA 13,042 14,464 10.9% 15,513 NPATA 4,837 10,822 123.7% 10,807 NPAT 3,383 9,365 176.8% 9,280 Net Cash Balance 5,249 12,372 135.7% 10,744 Final Dividend (cps) 3.60 7.20 100.0% 7.20 Annual Dividend (cps)
Slide 7: FY15 Review
For personal use only FY15 REVIEW_ • Revenue Growth of 9.2% • Heavy project workload including our two largest projects to date • Commenced a second UK water company project in line with our strategy • Delivered an Australian line/network solution, a significant market for future growth • Delivered
Slide 8: Track Record
For personal use only TRACK RECORD_ NZ$m Revenue NZ$m EBITDA 45.0 16.0 40.0 42.1 14.0 40.1 14.0 14.5 35.0 38.5 12.0 12.9 30.0 34.3 11.8 32.2 10.0 11.4 25.0 25.9 8.0 20.0 23.6 8.6 7.8 6.0 15.0 10.0 4.0 5yr CAGR = 10.2% 5yr CAGR = 10.9% 5.0 2.0 0.0 0.0 2009 2010 2011 2012 2013 2014 2015 2009 2010 2011
Slide 9: Divisional Analysis
For personal use only D I V I S I O N A L A N A LY S I S _ Utilities Revenue NZ$m EBITDA NZ$m 40.0 35.6 14.0 12.5 Revenue x Sector 33.0 12.0 11.9 30.0 10.0 Energy Water Airports Other 8.0 20.0 1% 6.0 15% 4.0 10.0 2.0 0.0 0.0 2014 2015 2014 2015 14% Airports 70% Revenue NZ$m EBITDA NZ$m 7.0 6.5 2.5 5
Slide 10: Geographic Analysis
For personal use only G E O G R A P H I C A N A LY S I S _ Revenue x Region Revenue NZ$m 25.0 Australia New Zealand UK ROW 7% 20.0 17% 15.0 2014 2015 52% 10.0 24% 5.0 New Zealand revenues were flat in Gentrack’s mature home market 0.0 New Zealand Australia UK Rest of World Australian revenues includ
Slide 11: Product Analysis
For personal use only P R O D U C T A N A LY S I S _ 0.4 0.4 3.5 Revenue x Product 3.4 Licences Project Services Support Services 11.6 Recurring Fees Other 8.9 1% 8% 14.0 13.6 31% 28% 11.8 13.0 2014 2015 Recurring Fees Support Services Project Services Licence Fees 32% Other Recurring Fees grew by 1
Slide 12: Operating Expenses
For personal use only O P E R AT I N G E X P E N S E S _ New Zealand Staff x Region Australia United Kingdom 14% Costs in NZ$m FY14 FY15 ∆% Personnel 19.9 21.9 10.1% 24% Administration & Occupancy 2.3 2.4 4.3% 62% Marketing 0.8 0.7 -12.5% Other 2.5 2.6 4.0% Staff x Role TOTAL COSTS 25.5 27.6 8.2% Ad
Slide 13: Outlook
For personal use only OUTLOOK_ • Continuing demand from new customers and upgrades of existing customers exceeds current delivery capacity • A strong order book from projects is underway • We expect revenue growth for FY16 in line with historic average of 10% • We are investing significantly in addi
Slide 14: Appendix
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ APPENDIX_ www.gentrack.com
Slide 15: Income Statement
For personal use only I N C O M E S TAT E M E N T _ FY15 FY15 FY14 Actual Statutory Prospectus Statutory Actual Statutory NZ$’000 NZ$’000 NZ$’000 Revenue 42,069 44,695 38,531 Expenditure (27,605) (29,182) (25,489) EBITDA (underlying) 14,464 15,513 13,042 % of revenue 34% 35% 34% Depreciation and amo
Slide 16: Balance Sheet
For personal use only BALANCE SHEET_ FY15 FY15 FY14 Actual Statutory Prospectus Statutory Actual Statutory $’000 $’000 $’000 Cash 12,372 10,744 5,249 Receivables 10,522 10,792 10,567 Property, Plant and Equipment 671 818 565 Intangibles 58,493 58,809 60,510 Total assets 82,058 81,163 76,891 Payables
Slide 17: Cash Flow Statement
For personal use only C A S H F L O W S TAT E M E N T _ FY15 FY15 FY14 Actual Statutory Prospectus Statutory Actual Statutory $’000 $’000 $’000 Cash from Operating Activities Receipts from customers 44,753 44,837 40,071 Payments to suppliers and employees (27,716) (28,808) (25,365) Cash generated fr
Slide 18: GAAP to Non-GAAP Profit Reconciliation
G A A P T O N O N - G A A P P R O F I T R E C O N C I L I AT I O N _ For personal use only $’000 FY15 Actual FY15 Prospective FY14 Actual NPATA, EBITDA AND UNDERLYING EBITDA Reported net profit for the period (GAAP) 9,365 9,280 3,383 Add back: amortisation1 2,017 2,087 2,014 Add back: tax adjustment
Slide 19: End
T H E S O F T WA R E O F For personal use only INFRASTRUCTURE_ END_ www.gentrack.com