Thursday 27th May 2021 |
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Gentrack Group Limited, a leading provider of software solutions for utilities and airports, today released its results for the half-year to 31 March 2021.
The results for the half-year show an increase in revenue of 0.7% to $51.0m. Utilities revenue increased 6% during the period (vs prior comparative period) driven by new customers and increases from existing customers.
Results Summary
• Revenue: $51.0m – up 0.7% on H1’20
• EBITDA: $7.0m – up 63.2% on H1’20
• Statutory NPAT: ($1.1m) loss
• Net cash: $22.4m up 33.5% on FY20
• No Interim Dividend payable
Updated guidance
In February 2021 Gentrack Group Limited advised that it expected full year EBITDA to be around $5m and revenues in line with FY20 of $100.5m.
With the turnaround accelerating, Gentrack now provides the following outlook update:
• FY21 revenues are expected to be slightly ahead of FY20 revenues of $100.5m
• FY21 EBITDA is expected to be around $10m for the year on the basis that research and development (R&D) costs are expensed
• Incremental R&D costs are expected to be at an exit rate of ~$3m/quarter by the end of the financial year
• The company expects to be net cashflow positive in FY21, building on the $16.8m of net cash reported at 30th September 2020. H2’21 cash generation is expected to be neutral or better.
Please see the links below for details
Financial Statements including Chair's Commentary
Source: Gentrack Group Limited
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