Gentrack Group Ltd · NZX:GTK
Gentrack — H1 FY2020 Earnings Presentation
16 slides from Gentrack's earnings presentation, May 29, 2020
Slide 1: Gentrack Group Ltd FY20 Half Year Update
GENTRACK GROUP LTD (GTK) FY20 – HALF YEAR UPDATE A S AT 3 1 M A R C H 2 0 2 0 Copyright © 2020. This document is the intellectual property of Gentrack. The intended recipient may use this information only for the purpose for which it was supplied, including copying and archiving for internal use. It
Slide 2: Disclaimer
DISCLAIMER This presentation may contain 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 statements are based on managem
Slide 3: H1 FY20 – Headlines
H1 FY20 – HEADLINES • Revenue and EBITDA impacted by market conditions including uncertainty with current and new projects in utilities and airports • UK and Australia revenue down 7% and 4% respectively • OPEX increased $6.2m (Pre IFRS16) on H1 FY19 driven by investment in the UK • Committed Recurr
Slide 4: Market and COVID-19 Update
MARKET AND COVID-19 UPDATE Energy Price Caps in the UK and Air travel shutdown has seen revenues Australia continue with further changes expected decline 90%+ for many airports globally Financial pressures on Retailers continue, Uncertainty regarding the duration exacerbated by COVID-19 and impact o
Slide 5: Strategic Focus
STRATEGIC FOCUS 1. Investing to develop the leading SaaS platform for utilities Leverage industry best practice from 50+ energy retailers in the UK, ANZ and SE Asia Enable lowest Cost to Serve and next generation tariff innovation: Smart Metering, EV, Battery, Demand Response 2. Targeting the larges
Slide 6: Comparative Results
COMPARATIVE RESULTS Revenue Analysis Cost Analysis Utilities Airports • Revenue reductions in UK and Australia, partially offset by increases in recurring revenues from new business and higher existing customer volumes • H1 FY20 profitability weakness due to combined impacts of revenue reduction wit
Slide 7: Changing Revenue Mix
CHANGING REVENUE MIX REVENUE MIX - UTILITIES H1 FY20 Committed Recurring Revenue up 11% on H1 FY19 to $29.7m NZ$m • Overall revenue reduction due to UK customer losses and non-recurring revenue reduction in Australia Committed Recurring Non-contracted Recurring Non-recurring Licences/Other • Total r
Slide 8: Asset Write-Downs
ASSET WRITE-DOWNS Intangible Asset NZ$m • Blip Systems was acquired in April 2017 as an innovative supplier of passenger tracking solutions for airports • With the Blip impacted by COVID-19 and with uncertainty Capitalised Software Product rationalisation to for UK Energy Retail ($1.5m) remove overl
Slide 9: Cash Flow / Balance Sheet
CASH FLOW / BALANCE SHEET • Positive cashflow leading to improved net cash position • Strong operating cashflow in the period driven by working capital improvement, especially in UK where overdue balances reduced sharply H1 FY20 CASHFLOW ANALYSIS 8.6* • Liquidity outlook remains favourable with long
Slide 10: Outlook
OUTLOOK • Utilities: COVID-19 impact on energy retailers creates a level of uncertainty with the risk of further failures and consolidation. • Airports: Veovo revenues have been impacted by the travel shut down and we are seeing some reduction in income from smaller Veovo customers. • With the benef
Slide 11: Q&A
Q&A Copyright © 2020. This document is the intellectual property of Gentrack. The intended recipient may use this information only for the purpose for which it was supplied, including copying and archiving for internal use. It may not be disclosed to third parties without the prior written consent o
Slide 12: Appendices
APPENDICES Copyright © 2020. This document is the intellectual property of Gentrack. The intended recipient may use this information only for the purpose for which it was supplied, including copying and archiving for internal use. It may not be disclosed to third parties without the prior written co
Slide 13: Geographic Analysis
GEOGRAPHIC ANALYSIS 35 REVENUES BY REGION H1 FY20 vs H1 FY19 29.9 - Australia: Down 4% 30 28.7 26.5 - UK: Down 7% 25 - NZ: Up 18% 20 - ROW: Down 19% NZ$m 15 12.2 12.7 11.7 9.6 9.1 10 7.8 5.5 4.6 5 3.9 0 AUSTRALIA UK NEW ZEALAND ROW H1 FY'19 H2 FY'19 H1 FY'20 13
Slide 14: GAAP to Non-GAAP Profit Reconciliation
GAAP TO NON-GAAP PROFIT RECONCILIATION 6 Months 6 Months 12 Months Period NZ$m 31 Mar 20 31 Mar 19 30 Sep 19 Reported net profit/(loss) for the period (GAAP) (12.8) (8.7) (3.3) Income tax (income) / expense (0.7) 0.7 3.8 Net finance (income) / expense (0.9) 1.5 0.8 Impairment of Goodwill and intangi
Slide 15: H1 FY20 on a Constant Currency Basis
H1 FY20 ON A CONSTANT CURRENCY BASIS H1 FY20 NZ$m H1 FY19 Constant H1 FY20 Difference ∆% Currency3 Revenue 54.4 49.3 50.6 1.3 3% Operating Costs -41.6 -44.4 -45.8 -1.4 3% EBITDA1 12.8 4.9 4.8 -0.1 -3% NPAT2 4.6 0 -1.0 -1.0 Large 1. Underlying EBITDA, being earnings before depreciation, amortisation,
Slide 16: www.gentrack.com
BPPUPAL D001 C2 05,. ; TECHNOLOGY- 11010010202? Www. GENTRACK.COM _