Gentrack Group Limited (NZX/ASX: GTK), a leading provider of software solutions for utilities and airports, today released its results for the half-year to 31 March 2021.
- 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
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.
Revenues were down in the Airports business by $2.1m due to the industry downturn but pleasingly annual recurring revenues (ARR) were up 5.8% reflecting the critical role of our product in our customers’ operations.
Underlying EBITDA of $7.0m is up 63.2% on H1’20. Costs were down 5% vs H1’20 due to various cost saving measures, while at the same time increasing our investment in human capital.
The Group achieved $5.6m net cash generation for the period resulting in $22.4m net cash as at 31 March 2021, up from $16.8m at 30 September 2020. There have been further improvements in working capital and cash savings from increased use of share-based incentives. The year-end cash position provides scope for additional investment in technology. Please click here for the full announcement
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