Pay / Appeal Parking Charge
Pay / Appeal Parking Charge

FY24 Results Announcement

Smart Parking are pleased to report that we continue to see growth in metrics across the Group, with a total of 1,424 global ANPR sites under management (up 28%), revenue of $54.3m1 (up 21%) and adjusted EBITDA of $14.7m1 (up 28%). As well, Parking Breach Notices for the Group have increased by 22%.

29 Aug 2024
News Press Release

In FY24 the company acquired 2 businesses in the UK and Germany, and expanded operations into Denmark.

Key FY24 results highlights include:

  • Group revenue of $54.3m1 (up 21%)
  • Adjusted EBITDA of $14.7m2 (up 28%)
  • Adjusted EBITDA margin of 27%2 (up 150 bps)
  • Growth in global parking breach notices up 22%
  • Growth in APAC/Germany parking breach notices up 271%
  • Adjusted Free cashflow of $12.2m3 (up 40%)
  • 1,424 total group ANPR sites under management
  • Cash of $7.2m to self-fund organic growth, expansion into new territories, and complementary acquisition opportunities
  • Organic growth complemented by 2 acquisitions in the UK and Germany.
  • Denmark operations commenced in January 2024

The Company is also pleased to say that we have continued our growth momentum into FY25, with July revenue of $5.5m, an increase of 34% on the PCP.

Click here to access our FY24 Investor Presentation

Click here to access our FY24 Preliminary Final Report

1  Excludes revenue of $0.1m from the new Denmark territory $0.2m of interest income.

2  Excludes $0.6m investment in new Denmark market, $0.2m investigating new territories and other non-operating/non-recurring items.

3  Excludes Denmark and Exceptional items to enable like for like comparison with PCP.

Smart Parking are delighted with our progress in FY24, delivering record results, and are looking forward to delivering continued growth and a strong performance in FY25. Our key focus remains to deliver 1,500 sites by December 2024 and we are on track to exceed this milestone. Our growth strategy remains intact, and with our balance sheet and positive cash flow we're well capitalised to take advantage of organic and inorganic opportunities as they arise. I look forward continuing to update our shareholders on positive progress in the near future, and would like to thank our Global team for their outstanding contributions over the year.

Group CEO | Smart Parking

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