GTK
27/11/2014 08:36
FLLYR
PRICE SENSITIVE
REL: 0836 HRS Gentrack Group Limited
FLLYR: GTK: Gentrack announces FY14 results and reaffirms FY15 guidance
Media Release
Gentrack announces FY14 results and reaffirms FY15 guidance
AUCKLAND, New Zealand - 27 November 2014; Gentrack Group Limited (GTK), a
market leader in software solutions for utilities and airports, today
released its full year results to 30 September 2014.
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Total operating revenue for the full year ended 30 September 2014 was NZ$38.5
million (Prospectus: $40.6 million) with underlying EBITDA of $13.0 million
(Prospectus: $14.1 million) and NPAT of $3.4 million (Prospectus: $3.7
million). A Final Dividend of 3.6 cents per share in line with the
Prospectus will be paid on 19 December 2014. The dividend will be fully
imputed for New Zealand investors and 40% Franked for Australian investors.
This result is an improvement on the guidance provided to the market on 1
August 2014 but is below the 26 May 2014 Prospectus forecast.
Gentrack Chief Executive, James Docking, said "Operationally 2014 was a good
year for Gentrack. We had a successful Go-Live with a complex enterprise
implementation of our first network billing product in Australia which has
established our credentials in that market. Our first water billing project
in the UK has gone well and will Go Live in early 2015. Airport 20/20 set a
sales record and is now used by most of the large Airports in Australasia.
Our profitable UK business grew by 40%, and we finished the year with a $5.2m
cash balance. Unfortunately, a couple of unforeseen project issues impacted
the 2014 results, but we remain well positioned for further growth in
Australia and the UK."
During 2014 Gentrack continued to invest substantially in the development of
its Utility and Airport products. Gentrack Velocity now provides utility
companies with a Cloud ready CRM and billing product that is well proven with
existing installations. New features, such as the ability to bundle
electricity, gas and broadband into a single consumer offer, and a
self-service web portal for consumer access, deliver the latest utility
requirements. Both the Utility and Airport products launched new management
dashboards in 2014 which aid in improving the operational efficiency and
performance of Gentrack customers. During 2014 Gentrack progressed twelve
new installation and upgrade projects.
Gentrack Chairman John Clifford said "In line with the May 2014 Prospectus we
expect to deliver solid growth in the year to 30 September 2015 with a 16%
increase in revenue to $44.7m, an EBITDA of $15.5m and NPAT of $9.3m.
Achieving this requires us to win several new projects in the first half of
the year from a healthy pipeline of opportunities we are currently working on
with both new and existing customers. We expect to be in a position to
update the market on progress on this with our half year results to 31 March
2015."
All figures are presented in NZ$.
*******
Invitation to Results Briefing
Investors are invited to a conference call on 27th November at 10:30am NZT /
8:30am AEST to discuss Gentrack's results for the year ended 30 September
2014.
The conference call details are:
NZ Dial: 0800-456-282
Australia Dial: 1800-505-544
PIN 5523397
*******
ENDS
Contact:
Jon Kershaw; Company Secretary
+64 9 9666090
About Gentrack
Auckland-based Gentrack is a developer of specialist software for energy
utilities, water companies and airports around the world. It employs 200
people in offices in Auckland, Melbourne, Brisbane and London and services
more than 150 utility and airport sites in 17 countries.
Gentrack is comprised of two leading software products - Gentrack Velocity
and Airport 20/20. Gentrack Velocity is a specialist billing and CRM product
designed for Energy utilities and Water companies. Airport 20/20 is a
comprehensive Airport Management System engineered to optimise an airport's
operations and enhance the passenger experience.
NON-GAAP PROFIT REPORTING MEASURES
Gentrack's standard profit measure prepared under New Zealand GAAP is net
profit. Gentrack has used non-GAAP profit measures when discussing financial
performance in this document. The directors and management believe that these
measures provide useful information as they are used internally to evaluate
performance of business units, to establish operational goals and to allocate
resources.
Non-GAAP profit measures are not prepared in accordance with NZ IFRS (New
Zealand International Financial Reporting Standards) and are not uniformly
defined, therefore the non-GAAP profit measures reported in this document may
not be comparable with those that other companies report and should not be
viewed in isolation or considered as a substitute for measures reported by
Gentrack in accordance with NZ IFRS.
Please refer to the attached Appendix for analysis re Non-GAAP reporting
measures.
End CA:00258175 For:GTK Type:FLLYR Time:2014-11-27 08:36:33
