Slide 1: GTK Interim Results Half Year to 31 March 2017
For personal use only GTK Interim Results Half Year to 31 March 2017 25 May 2017
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 • FY17 Interim Results and Analysis • Outlook • Appendix – GAAP reconciliation
Slide 4: Essential Software for Essential Services
Essential Software for Essential Services For personal use only • Gentrack’s vision is to be a recognised global leader in the provision of first class enterprise application software to utilities and airports • Our customers include 75+ utility sites and 85+ airports globally where our solutions ar
Slide 5: Headlines
Headlines For personal use only • New customers: Greenland Airports Authority and Jersey Airport • Project Go Lives ₋ ActewAGL (Aus) - live on Velocity for water, gas and electricity across all customer segments ₋ Good Energy (UK) - live on Velocity ₋ Santiago Airport (Chile) - live on Airport 20/20
Slide 6: Financial Highlights
Financial Highlights For personal use only REVENUE EBITDA1 $28.9m $8.8m $23.3m (up 24%) $6.7m (up 31%) NPAT DIVIDEND $5.6m 4.2cps For the 6 months to 31 March 2017, NZ$ $3.8m (up 46%) 4.2cps For the 6 months to 31 March 2016, NZ$ 1 Underlying EBITDA, being earnings before net finance expense, income
Slide 7: Comparative Results
Comparative Results For personal use only Revenue NZ$m EBITDA1 NZ$m Strong increases for the half year 40.0 10.0 8.8 28.9 8.0 30.0 23.3 6.0 5.5 5.5 6.7 • Revenue is up 24% and EBITDA1 is up 18.5 20.0 17.9 4.0 31% against H1 FY16. 10.0 2.0 0.0 0.0 • Cash position was $79.2m at H1 FY17, H1 '14 H1 '15
Slide 8: Divisional Analysis
Divisional Analysis For personal use only Utilities Revenue NZ$m EBITDA1 NZ$m 30.0 25.6 7.9 Revenue x Sector 8.0 19.5 20.0 6.0 5.2 Energy Water Airports Other 4.0 10.0 12% 1% 2.0 0.0 0.0 H1 '16 H1 '17 H1 '16 H1 '17 13% Airports Revenue NZ$m EBITDA1 NZ$m 3.8 1.5 4.0 1.5 3.3 3.0 1.0 74% 1.0 2.0 0.5 1.
Slide 9: Geographic Analysis
Geographic Analysis For personal use only Revenue NZ$m 16.0 Revenue x Region 14.0 Australia New Zealand UK ROW 12.0 6% 10.0 8.0 H1 '16 H1 '17 22% 6.0 52% 4.0 2.0 0.0 20% NZ Australia UK Rest of World • Consistent growth in ANZ and UK • Australian revenue improved 28% as a result of ongoing utilities
Slide 10: Revenue Type Analysis
Revenue Type Analysis For personal use only Revenue x Product Revenue NZ$m Licences Project Services Support Services Recurring Fees Other 0.2 1% 5% 1.4 0.2 26% 1.7 11.5 7.1 40% 8.2 7.3 7.0 7.7 28% • Contracted recurring revenues from Annual Fees and Support Services H1 '16 H1 '17 improved 9% over H
Slide 11: Staff Profile
Staff Profile For personal use only March Headcount Staff x Region Staff x Role 300 286 New Zealand Australia UK Corporate Sales/Marketing Technical 7% 250 20% 6% 230 200 150 87% 55% 25% 100 H1 '16 H1 '17 • Headcount increased by 3% during the half year and is 24% up on same period last year • Conti
Slide 12: Acquisitions
Acquisitions For personal use only Acquired 100% of Share Capital on 1 April 2017 • Enterprise value £42m (NZ$74.6m) • 25 UK customers • Market Ready billing and customer information software for utilities • Gives Gentrack over 50% of the independent energy suppliers in the UK Acquired 79.81% from P
Slide 13: Outlook
Outlook For personal use only • Based on the current sales pipeline, continuing projects and part year contribution from recent acquisitions, the company expects to achieve approximately 20% EBITDA1 growth • Acquisitions expand our addressable market, industry expertise and capability • Remain confi
Slide 14: Appendix - GAAP to non-GAAP Profit Reconciliation
Appendix - GAAP to non-GAAP Profit Reconciliation For personal use only GAAP to non-GAAP profit reconciliation 6 Months 6 Months 12 Months Period 31-Mar-17 31-Mar-16 30-Sep-16 Reported net profit for the period (GAAP) 5,562 3,810 9,608 Add back: net finance expense1 (495) 317 1,208 Add back: income