Gentrack releases FY15 interim financial result

AUCKLAND, New Zealand – 28 May 2015; Gentrack Group Limited (GTK), a market leader in software solutions for utilities and airports, today released its interim financial results to 31 March 2015.

Total operating revenue for the half year ended 31 March 2015 was NZ$18.5 million, with underlying EBITDA of $5.5 million and NPAT of $3.2 million. This compares to revenue of $17.9 million, EBITDA of $5.5 million and NPAT of $2.4 million for the previous half year to 31 March 2014. A dividend of 4.1 cents per share will be paid on 18 June 2015, and will be fully imputed for New Zealand investors and 30% Franked for Australian investors.

This result is in line with our budget for the first half of FY15 and, as foreshadowed at the Annual Meeting in February, the business is expecting a stronger second half result. The first half result included the signing of several new customers said Gentrack Chief Executive, James Docking, “We’re pleased to sign new airports customers Glasgow, Aberdeen and Southampton Airport Group, and Queenstown Airport. Go Energy, an innovative solar energy retail utility in Australia also recently completed its go live with a deployment of our Velocity utility billing system in the Amazon Cloud.”

Gentrack Chairman John Clifford said “In addition to these new sites, we had hoped to sign two major contracts in Australia and the UK by this point, both of which are still under contract negotiation. Delays in securing these new deals introduces some risk to achieving our prospectus forecast, however this remains our realistic objective if satisfactory progress can be made on both these projects and other licence transactions currently under negotiation. Based on the record level of current opportunities in our pipeline, we remain confident of Gentrack’s future growth beyond 2015.”

All figures are presented in NZD$.

ENDS

*******

Contact: Jon Kershaw; Company Secretary

+64 9 9666090

Please visit Gentrack’s Investor Centre to view the Interim Report to 31 March 2015 and the Investor Presentation.