29 Sep 2021

FY21 Update

30 September 2021

Gentrack Group Limited (NZX/ASX: GTK), a leading provider of software solutions
for utilities and airports, today updates the market on FY21 trading ahead of its
year-end results for 30 September 2021 due to be published on 25 November

Revenue in the second half of FY21 has been stronger than expected across the
Utilities segment reflecting early positive signs of our strategy to grow revenues
by providing innovative technologies and services to existing customers, win new
business and expand into managed services. The company has positive progress
on all three fronts. Full-year revenue is now expected to be approximately $105m
(vs previous guidance of slightly ahead of $100.5m). EBITDA is expected to be
around $12m (vs previous guidance of around $10m) positively impacted by
incremental revenue, higher throughput and slower than expected increase in
R&D spend due to the tight global labour market in the technology sector.
We take the opportunity to comment on the UK energy market, which is one of
Gentrack’s key markets. We highlight:

• Two small customers have recently entered the SoLR (supplier of last
resort) mechanism. Through our increased focus on working capital
management the group had no material exposures to these customers in
• Gentrack’s business is diversified between lines of business (B2B, B2C,
Water) and geographies. UK energy B2B customers are less affected by
current market conditions as the price cap does not apply.
• After recently updating group forecasts for FY22 we anticipate an increase
in group revenues vs FY21 after allowing for headwinds previously
announced and a reasonable additional reserve in the case of further

Further information will be provided at the full year results on 25 November.

Contact details regarding this announcement:
James Spence – CFO
+64 9 966 6090

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