Gentrack Group Limited (NZX/ASX: GTK) advises of an improved outlook for its results for the full year to 30 September 2016.
Ian Black, CEO of Gentrack Group said, “I am pleased to report that Gentrack’s strong performance in the first half of this financial year has continued through to the second half, resulting in an improved outlook for revenues and operating performance this year”.
Gentrack Group advises that the revised expectations for the results for the financial year ended 30 September 2016 are:
• Revenue of approximately NZD 52.7m, representing a 25% increase on the previous year
• EBITDA(1) of approximately NZD 16.7m, a 16% increase on the previous year
• NPATA(1) of approximately NZD 11.1m*, a 2% increase on the previous year
• NPAT of approximately NZD 9.6m, a 3% increase on the previous year.
Operating results have been impacted negatively by the strength of the New Zealand Dollar against other currencies. On a constant currency basis, using the effective exchange rates in FY15, Revenue and EBITDA would have been NZD 1.0m and NZD 0.4m higher respectively. The NPATA and NPAT results above were also impacted negatively by approximately NZD 1.4m due to the revaluation of balances held in foreign currencies.
These results are subject to finalisation and completion of the audit process.
Further details regarding Gentrack Group’s performance for the year to 30 September 2016 will be released in due course. The formal release of the financial results is set for 24 November 2016.
1 – EBITDA (Earnings before net finance expense, income tax, depreciation and
amortisation) and NPATA (Net profit after tax, excluding amortisation of acquisition
related intangibles) are non-GAAP profit measures that in the opinion of Gentrack Group’s directors, best reflect the financial performance of the business.
*NPATA has been updated to reflect a correction advised to the markets. NPATA was stated as NZD 11.6M and should have stated NZD 11.1M.