ersonal use only
Smart Parking Limited (ASX:SPZ)
AGM Presentation
15 November 2024
CEO Paul Gillespie
smartparking.com
Track record of growth and improving profitability
only | 40% | 54.7 | |||||
35% | |||||||
45.2 | |||||||
30% | |||||||
use | 38.1 | ||||||
25% | |||||||
20% | |||||||
15% | 23.5 | 22.7 | |||||
ersonal | 10% | ||||||
5% | |||||||
0% | |||||||
FY20 | FY21 | FY22 | FY23 | FY24 | |||
-5% | |||||||
Revenue $m's | EBITDA Margin % | ||||||
Strong growth in revenues and margin expansion over the last 5 years.
Share price up 178% (over 5 year period).
Completed share buy back in FY21/22/23 spending $2.9m at an average of $0.1964 per share (share price was $0.72 at close 14 November 2024).
Robust technologies and management capability to deliver the next stage
of growth.
2024 AGM Presentation | smartparking.com | PAGE 2
The problem we solve
| Ensuring there is always a place to park for genuine customers
Strong account management capabilities support long term customer relationships.
ersonal use only
Contract with landowner
Diversified portfolio of:
- Retail
- Property agent
- Hospitality venues
- Hospitals
- Entertainment venues
- Transportation hubs
- Hotels
- Fast food restaurants
- Supermarkets
Smart Parking
camera installation
monitors all
car movements
and collates
contraventions
- 189m vehicles recorded in FY24.
Parking Breach | ||||||
Notice is sent to | ||||||
owner for payment - | ||||||
SmartCloud Hub | 266,000 PBNs issued | |||||
in Q1 FY25. | ||||||
customer portal | ||||||
Government agency | ||||||
provides car owner details. | ||||||
Deep domain expertise in compliance | ||||||
requirements and matching | ||||||
All image data is processed | exemptions to ensure accuracy and | |||||
adherence to legislation. | ||||||
through proprietary SmartCloud | ||||||
AI engine - over 400m images | ||||||
processed in FY24. | 2024 AGM Presentation | smartparking.com | PAGE 3 |
Expanding our addressable market - | ||||
additional new territories | 2024 | February | ||
only | | Disciplined acquisition track record - | ||||||||
complements strong organic growth | |||||||||
2022 | |||||||||
2021 | |||||||||
January | |||||||||
use | |||||||||
Successfully | |||||||||
Expanded into | |||||||||
launched | |||||||||
New Zealand in | |||||||||
a technology | |||||||||
March and | |||||||||
driven Parking | |||||||||
ersonal | |||||||||
Australia in July of | |||||||||
Management | |||||||||
2021. Completed | |||||||||
business in | |||||||||
acquisition of | |||||||||
Germany | |||||||||
Enterprise Parking | |||||||||
solutions in | |||||||||
August. | |||||||||
April
Completed
the acquisition of NE Parking and are working with customers to upgrade suitable sites from manual
operations to
a technology led
solution
2023
July
Completed the acquisition of ParkInnovation and working to upgrade suitable sites in Germany from manual operations to a technology
led solution
Successfully launched a technology driven Parking Management business in Denmark
March
Completed the
acquisition of the
assets in Local Parking
Security working to
upgrade suitable sites in
the UK from manual operations to a
technology led solution.
Evaluation underway for further territory expansion in mainland Europe, Scandanavia and the USA.
2024 AGM Presentation | smartparking.com | PAGE 4
FY24 Highlights - record results
only | |||
Revenue of $54.31m up | Adjusted EBITDA | ||
21% | $14.7m2 up | ||
28% | |||
2 | |||
use | |||
* Compared to PCP | * Compared to PCP | ||
1,424 sitesTotal | flow of $12.2m3 up | ||
ersonal | Adjusted free cash | ||
40% | |||
up 28% | |||
* As at 30 June 2024 compared to PCP | * Compared to PCP |
1 Excludes $0.1m of revenue from Denmark and interest income of $0.2m
2 Excludes $0.6m investment in new Denmark market, $0.2m investigating new territories and other non-operating/non-recurring items 3 Excludes Denmark investment and exceptional costs
Adjusted EBITDA margin of 27% up
150bps
* Compared to PCP
Cash of
$7.2m
* As at 30 June 2024
2024 AGM Presentation | smartparking.com | PAGE 5
Performance by market - FY24
| Leveraging core technology and expanding our addressable markets
only | NEW | ||||||||||||||
UK | NZ | Australia (QLD)1 | Germany | Denmark | |||||||||||
use | |||||||||||||||
1,124 total sites | 162 total sites | 71 total sites | 67 total sites | • Business established | |||||||||||
GROWTH IN | |||||||||||||||
in January 2024 | |||||||||||||||
ANPR SITES | 21% up on PCP | 93% up on PCP | 0% up on PCP | 148% up on PCP | • Sales team and | ||||||||||
operations structure | |||||||||||||||
in place | |||||||||||||||
GROWTH | |||||||||||||||
14% up on PCP | 70% up on PCP | 89% down on PCP | 477% up on PCP | • First 11 contracts | |||||||||||
IN PBNs | secured and revenue | ||||||||||||||
being generated | |||||||||||||||
ersonal | 43,985 | 4,572 | 70 | 2,790 | |||||||||||
REVENUE | 109 | ||||||||||||||
($000s) | 21% up on PCP | 56% up on PCP | 95% down on PCP | 519% up on PCP | |||||||||||
TAM | 45,000 sites | 3,000 sites | 2,000 sites | 90,000 sites | 10,000 sites | ||||||||||
1 Technology enforcement currently paused | |||||||||||||||
2024 AGM Presentation | smartparking.com | PAGE 6 |
Foundations for growth
| SPZ is well placed to deliver ongoing growth in existing and new markets.
only | |||||||||
Scaling technology | |||||||||
SmartCloud and Smart Hub |
- it is the complete parking usemanagement tool for the future.
ersonal | |||||
Regulatory | |||||
compliance expertise | |||||
SPZ has deep domain | |||||
experience that ensures | |||||
compliance with all regulatory | |||||
environments we operate. |
Proven M&A capabilities
Completion and integration of
two deals in FY24 shows discipline and expertise.
Bench strength,
people and processes
SPZ well placed for further
growth across multiple territories.
Market opportunities
- SPZ focused on growing
and expanding our
addressable markets and TAM through careful and considered review of each new territory.
- Territory under review in Scandinavia, mainland Europe and USA.
2024 AGM Presentation | smartparking.com | PAGE 7
Growth strategy - multiple drivers
| Three key pillars for growth
only | Organic growth |
Growth in sites = growth | |
in PBNs = revenue & | |
profitability | |
use | High incremental margin |
leveraging existing fixed | |
cost base | |
ersonal | Existing and New markets: |
TAM 45,000 SITES | |
TAM 2,000 SITES | TAM 3,000 SITES | TAM 90,000 SITES | TAM 10,000 SITES |
New territories
Investigating and evaluating new market territories across Scandinavia, mainland Europe and USA
Focused on territories with
appropriate regulatory
environment where SPZ can leverage SmartCloud IP and market leading AI driven technology
Acquisitions
Good pipeline of opportunities
Adding scale where SPZ have
successful operations and market
intelligence
Disciplined selection criteria:
Strategic fit, technology and
earnings accretion
Ability to leverage technology and deep domain expertise to deliver synergies
Focused on the constructive regulatory framework in key US states
2024 AGM Presentation | smartparking.com | PAGE 8
ersonal use only
Q1 FY25
Business
Update
ersonal use only
Q1 FY25 key metrics
| Ongoing growth across all markets
Revenue ($m) | ||
Revenue of $16.8m | 24% | 16.8 |
up | 13.6 | |
24% | ||
*Compared to PCP | Q1 FY24 | Q1 FY25 |
Parking Breach Notices | ||
Growth in parking | 18% | 266,048 |
breach notices up | 224,923 | |
18% |
Adjusted EBITDA ($m) | ||
Adjusted EBITDA | 30% | 5.4 |
$5.4m up | 4.2 | |
30% | Q1 FY24 | Q1 FY25 |
*Compared to PCP. Excludes Denmark EBITDA loss | ||
of $0.4m | ANPR Sites | |
R | 1,485 | |
957 | ||
1,500 | 4.3m | |
28% | ||
324 | ||
1,161 | ||
1,159 | ||
202 |
Global sites target achieved ahead of plan
*Compared to PCP | Q1 FY24 | Q1 FY25 |
*Achieved in October 24
Sept 2023 Sept 2024
*Q1 results are unaudited |
UK APAC/Germany/Denmark
2024 AGM Presentation | smartparking.com | PAGE 10