Smart Parking (SPZ) Status Update summary

Continued strong financial performance

• Q1 FY25 revenue increased by 24% year-on-year, with adjusted EBITDA up 30% to AUD 5.4 million, maintaining strong growth momentum from FY24.

• Number of sites under management grew 28% year-on-year, reaching 1,529 by mid-November, surpassing the previous 1,500-site target ahead of schedule.

• Margin expansion continues in established markets, with incremental EBITDA margins exceeding 50% in the UK and New Zealand, though new territories like Denmark are margin dilutive in the short term.

Growth strategy and targets

• New organic growth target set at 3,000 ANPR sites under management by December 2028, aiming to double the current footprint in four years.

• Growth will be driven by disciplined sales, entry into new markets, and selective M&A, with recent successful integrations in the UK and Germany.

• Expansion into new territories such as Denmark, with further opportunities being evaluated in Scandinavia, mainland Europe, and the USA.

Business model and technology

• Operates a capital-light, highly scalable model leveraging proprietary technologies (SmartCloud and SmartHub) for efficient data processing and customer analytics.

• Focuses on providing value to landowners by ensuring parking availability for genuine customers, increasing retail footfall and sales.

• Diversified customer base across retail, hospitality, and entertainment sectors, with a strong account management approach.