Smart Parking (SPZ) H2 2026 earnings summary

Executive summary

• Achieved record FY 2026 results with revenue of AUD 126 million, up 63% year-over-year, and adjusted EBITDA of AUD 30.8 million, up 50%, driven by organic growth and acquisitions.

• 72% of revenue growth was organic, with significant expansion in ANPR sites and enhanced debt resolution processes in the UK.

• Strategic investments in Switzerland and acquisitions in the US (Peak Parking, American Parking) expanded the global footprint.

• Strong cash flow generation and robust balance sheet support ongoing growth and M&A activity.

• Closed the year with 2,083 ANPR sites, up 16%, and issued a record 1.2 million PBNs.

Financial highlights

• Revenue: AUD 126 million (+63% YoY); Adjusted EBITDA: AUD 30.8 million (+50% YoY); margin at 24.4%.

• UNPATA: AUD 11.4 million (+73% YoY).

• Free cash flow reached AUD 20 million (+56% YoY); cash balance increased 37% to AUD 17.4 million.

• Basic EPS increased 15% to 1.67 cents; UNPATA EPS up 56% to 2.74 cents.

• Adjusted EBITDA margin: 24.4%, down 220 bps due to higher costs and Swiss investment; FX losses impacted results: AUD 2.6 million loss.

Outlook and guidance

• Targeting 450–600 net new organic ANPR sites in FY 2027; ambition to reach 3,000 sites by December 2028 remains intact.

• Continued focus on organic growth in UK, US, and Germany, with disciplined M&A in the US.

• EBITDA from enhanced debt resolution expected to be AUD 5 million in FY 2027, down AUD 2 million YoY.

• Switzerland and Germany expected to improve profitability as site numbers grow; Denmark losses expected to reduce.

• Expecting full-year contributions from new sites and acquisitions, with Germany and Switzerland moving toward profitability.