Gentrack Group Limited (NZX/ASX: GTK), a leading provider of software solutions for utilities and airports, advises that it now expects its full-year FY19 EBITDA(1) result to be within a range of between $27m and $28m.
This is a decrease from previous guidance of a full year FY19 EBITDA(1) result marginally ahead of FY18 ($31.0m) and is due to delays in customer projects and contracts, and bad debt risks in the UK. The delays relate primarily to customer resourcing and do not indicate that the projects concerned are at risk.
We note the ongoing dependency on the timing of key contracts and project milestones and confirm that there is a strong pipeline of opportunities in our utilities and airports markets which support our long-term growth objective.
(1) EBITDA: Earnings before net finance expense, tax, depreciation and amortisation and other non-operating expenses. Non-operating expenses are costs relating to acquisition.