Smart Parking Limited · ASX:SPZ
Smart Parking — H1 FY2019 Earnings Presentation
31 slides from Smart Parking's earnings presentation, Feb 25, 2019
Slide 1: FY19 First Half Results
For personal use only Smart Parking Limited (ASX:SPZ) FY19 First Half Results 25 February 2019 CEO Paul Gillespie smartparking.com
Slide 2: Investing for future growth
For personal use only Investing for World-leading future technology growth for parking design, development World-leading andand technology management first-class managed services. Management Services | UK Management Services Profitable | UK and operates exclusively Technology in the |UK. Global Spec
Slide 3: H1 FY19 Highlights
For personal use only H1 FY19 Highlights
Slide 4: H1 FY19 results at a glance
H1 FY19 results at a glance | Smart Parking Group For personal use only | Investing to capitalise on significant market growth opportunities • Reaffirming the message at the AGM, SPZ is investing in our people, product and process to fuel future growth. • New UK management team has settled well and
Slide 5: H1 FY19 operational highlights
H1 FY19 operational highlights | Smart Parking Group For personal use only Parking Breach Notices Issued Cumulative Sites 204,910 301 187,116 187,309 289 276 269 259 249 236 H1 FY18 H2 FY18 H1 FY19 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Number of PBNs issued holding steady UK ANPR roll out
Slide 6: H1 FY19 operational highlights
H1 FY19 operational highlights | Smart Parking Group For personal use only Investing to strengthen and enhance SPZ for long term sustainable growth: • Sales force capacity increased and showing positive results and pipeline growth. • New UK management team settled and achieving site installation and
Slide 7: Market opportunity – Management services
Market opportunity For personal use only | Smart Parking Group – Management services UK ANPR enforcement market opportunity remains significant at 45,000 sites • Sites under management at 31 December was 301. • Sites under management at 22 February increased to 324. • Over 37 million cars using SPZ
Slide 8: Market opportunity – Technology
Market opportunity | Smart Parking Group – Technology For personal use only Global adoption of Smart Parking technology affirms SPZ strategy • Smart City adoption continues through all SPZ operating markets. • SPZ positioned well to capture more market share through the development and delivery of I
Slide 9: H1 FY19 Financial Update
For personal use only H1 FY19 Financial Update
Slide 10: H1 FY19 Results – Group Profit & Loss
H1 FY19 Results | Group Profit & Loss (m) H1 FY18 H1 FY19 For personal use only Revenue 16.6 14.1 Cost of Sales (6.2) (6.1) Smart Parking Group Gross Profit 10.4 8.0 Overheads (6.5) (7.5) • Lower revenue in H1 FY19 due to: EBITDA 3.9 0.5 – The loss of some key car parking sites in the UK management
Slide 11: Group Revenue and EBITDA Bridge
H1 FY19 Results | Group Revenue Bridge (m) H1 FY19 Results | Group Revenue Bridge (m) H1 FY19 Results | Group EBITDA Bridge (m) 16.6 H1 FY19 Results | Group EBITDA Bridge (m) 16.6 3.9 For personal use only 0.6 14.1 3.9 (2.1) 0.6 14.1 (2.1) (0.2) (0.2) (0.4) (0.4) (0.4) (0.4) (2.5) (0.2) (2.5) (0.2)
Slide 12: Group Financial Position and Cash Flow
H1 FY19 Results | Group Financial Position (m) H1 FY19 Results | Operating H1 FY19 Cash ResultsFlow | & CAPEX (m) Operating Cash Flow & Capital Expenditure (m) 3.1 For personal use only $m Dec-18 Jun-18 3.1 Current assets 21.4 23.2 Non current assets 8.8 8.8 1.3 1.2 1.7 Total assets 30.2 32.0 0.9 1.
Slide 13: Segment reporting
Segment reporting For personal use only Revenue EBITDA (000’s) H1 FY19 vs H1 FY19 vs H1 FY18 H1 FY19 H1 FY18 H1 FY19 H1 FY18 H1 FY18 Parking Management 13,404 11,347 (15.3%) 4,827 1,909 (60.5%) Technology Division 3,866 3,945 2.0% (136) (375) (175.7%) Research & Development 0 0 (330) (500) (51.5%) 1
Slide 14: Management Services Financials
For personal use only H1 FY19 Results | Management Services Financials (m) 13.4 Management Services 11.3 10.5 • Revenue reduction following loss of key sites and lower PBN’s to maintain longer term sustainable contracts following H2 FY18 challenges. • Site losses arrested with none recorded in Decem
Slide 15: PBNs Issued and Site Reconciliation
H1 FY19 Results | Site Reconciliation H1 FY19 Results | Parking Breach Notices Issued H1 FY19 Results | Site Reconciliation 23 324 77 (0) 16,205 9,869 30177 For personal use only 2,838 301 12,306 (12) (12) 98,130 65 94,246 65 91,299 10,985 236 236 85,100 86,341 (16) 60 (16) 60 72,016 187 187 (17) (1
Slide 16: Technology Financials
For personal use only H1 FY19 Results | Technology Financials (m) 3.9 3.9 Technology • SPZ Smart City Platform – SmartCloud – delivered, operational and generating revenue. • SPZ new guidance and payment app delivered. • Next generation sensor delivered and operational in 10 locations. • Smart city
Slide 17: Research & Development Investment
For personal use only H1 FY19 Results | Research & Development Investment (m) 0.5 Research & Development • Increased investment in the Smart City platform including delivery of the Smartphone payment 0.3 application and enhancements to SmartCloud. H1 FY18 H1 FY19 Cost H1 FY19 Results Presentation |
Slide 18: H1 FY19 Business Update
For personal use only H1 FY19 Business Update
Slide 19: Business update: UK managed services
For personal use only Business update: UK managed services | Business stabilisation complete and now in growth mode • Strong focus on capturing market share in the ANPR parking enforcement market place – total market of 45,000 off street sites. • Investment in additional sales and operational capaci
Slide 20: Management services: Growing customer base
Management services | Growing customer base For personal use only • Customer engagement proving successful with new client wins each month and further account growth. • Pipeline of new sites and clients growing beyond 200 locations. • ‘Technology First’ strategy is a key differentiator in the market
Slide 21: Business update: Technology
Business update: Technology For personal use only H1 FY19 Results | Technology Sales Pipeline (m) | Smart City and IoT technology continues 44.0 to be adopted 38.1 • Focused sales effort in winning customer contracts 32.9 across all verticals, growth in partnerships and the delivery of best in class
Slide 22: Growing customer base
PREV PG 27 IN AUG Growing customer base For personal use only | Continued growth within all operating territories, and expansion into new markets. H1 FY19 Results Presentation | smartparking.com | PAGE 22
Slide 23: FY19 Strategy and Outlook
For personal use only FY19 Strategy and Outlook
Slide 24: FY19 Strategy and Goals
FY19 Strategy and Goals – Services For personal use only • Business stabilised and moved back into growth phase. • Investment in sales and operational capacity delivering new site installations. • Focus to continue on site growth with over 200 sites in the H2 FY19 pipeline. • Maintain discipline in
Slide 25: Contact
For personal use only Contact Paul Gillespie Chief Executive Officer paul.gillespie@smartparking.com Richard Ludbrook Chief Financial Officer richard.ludbrook@smartparking.com smartparking.com
Slide 26: Supplementary Information
For personal use only Supplementary Information
Slide 27: Management services: How it works
Management services: How it works | Parking management improving customer satisfaction For personal use only and revenue generation. • ANPR | Automatic Number Plate Recognition • Pay & Display | ANPR Linked Automated Payment System • Site Surveys | Real-time information, analysis and trend data • Pa
Slide 28: ANPR: How it works
ANPR: How it works For personal use only | 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
Slide 29: Technology: How it works
SmartCloud Technology: How it works API Service Interface Packs | Smart Parking’s technology provides For personal use only effective parking management solutions around the world. SmartZones On-Street Parking Off-Street Parking SmartApp SmartSpot Overhead Guidance ANPR Camera Variable Message Signs
Slide 30: Smart Parking app
For personal use only Smart Parking app | The Smart Parking app and its customised Miami, Cardiff, Adelaide, Moreton Bay, Moonee Valley, Livingstone Shire apps delivered. Features and benefits: • Available for both Android and iOS. • Provides detailed information around hours, tariffs and bay types.
Slide 31: Glossary and legal disclaimer
For personal use only 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 not expected to occur in the future. EBITDA – represents Earnings before interest, taxat