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Smart Parking Limited (ASX:SPZ)
H1 FY22 Results
21 February 2022
CEO Paul Gillespie
smartparking.com
Smart Parking Ltd (ASX:SPZ)
A global company focused on delivering industry leading technology innovations and solutions within the parking industry
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Parking management services
Provision of parking management solutions, predominantly servicing the retail sector, managing agents and land owners in the UK. SPZ has recently launched in three new territories, with accreditation achieved in NZ, Australia (Queensland) and Germany to run parking management services.
Technology
The sale of Smart City and IoT (Internet of Things) technology, hardware and software predominantly for parking solutions around the world.
Research & development
We develop proprietary solutions to enhance Smart City, IoT and ANPR software/hardware for both the Technology and Parking Management divisions.
Revenue ($000s) | 9,003 | ||||
8,288 | |||||
7,222 | |||||
5,129 | 5,055 | ||||
3,265 | |||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 |
FY2021 | FY2022 |
OVER 11 MILLION CARS PER | OVER 31m SMARTCLOUD | OVER 600 CUSTOMERS | SALES AND OPERATIONS |
MONTH THROUGH UK ESTATE | TRANSACTIONS PER DAY | WORLDWIDE | AROUND THE GLOBE |
H1 FY22 Results Presentation | smartparking.com | PAGE 2
Disciplined execution of growth strategy drives results
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Sites Managed
3x growth in 4 years
737 | ||||
619 | ||||
496 | ||||
389 | ||||
286 | ||||
FY18 | FY19 | FY20 | FY21 | 31 Dec 2021 |
Operating territories
Managed services successfully expanding overseas
4 | |||||
3 | |||||
2 | |||||
1 | 1 | 1 | |||
FY18 | FY19 | FY20 | FY21 | H1 FY22 | H2 FY22 |
UK PBNs
Strong recovery post pandemic | 264,248 | |||
204,910 | 187,309 | 196,942 | ||
152,111 | ||||
H1 FY18 | H1 FY19 | H1 FY20 | H1 FY21 | H1 FY22 |
Car count ($000s)
Scaleable technology
68,119 | |||
48,475 | 50,368 | ||
36,766 | |||
H1 FY19 | H1 FY20 | H1 FY21 | H1 FY22 |
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737 Total sites
up 19%
*As at 31 Dec 2021 compared to 30 June 2021
Cash of
$11.3m
*At 31 Dec 2021 (excludes customers' cash)
H1 FY22
Revenue of | Adjusted EBITDA | ||||
$17.3m up | $5.1m up | ||||
70% | 264% | ||||
*Compared to PCP | *Compared to PCP | ||||
Growth in UK parking | 1,500 | ||||
breach notices up | |||||
74% | |||||
New global sites target | |||||
by June 2025 | |||||
*H1 FY22 compared to PCP | *772 sites at 18 February | ||||
H1 FY22 Results Presentation | smartparking.com | PAGE 4 |
H1 FY22 business update
| Record results, expanding market opportunities to accelerate growth.
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FINANCIAL
- Record results, ahead of guidance - Revenue $17.3m (guidance $16.4m-$16.9m) and EBITDA $5.1m (guidance $4.4m - $4.7m).
- Strong start to the financial year with revenue growth of 70%, Adjusted EBITDA margin of 30% (+1,580bp expansion from PCP) and an increase
in addressable markets (ANZ, EU).
EXPANSION
- UK Parking Services business experiencing rapid growth through disciplined execution of growth strategy.
- Completed integration of Enterprise Parking Solutions in H1 - earnings accretive.
- 737 total group sites under management as at 31 December. Good start to H2 with 772 sites as at 18 February - on track for 1,500 sites under management by June 2025.
- NZ Parking Services business continues to grow, with 13 sites under management, now EBITDA and operating cash flow positive.
- Successful launch of Australian services business. 8 sites under management & expected to be EBITDA profitable in H2.
- Successful launch of German operations, significant scope for growth.
OUTLOOK
- Positive outlook for further growth in H2.
- Cash of $11.3m to self-fund growth, technology investments and complementary acquisition opportunities.
- Increased technology order book with $4.8m of booked orders predominantly to
be recognised in H2 FY22.
H1 FY22 Results Presentation | smartparking.com | PAGE 5
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Smart Parking Limited published this content on 20 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2022 21:50:00 UTC.