Smart Parking Limited (SPZ)
Views and News
An Australasian Solution for Global Parking Problems
Smart Parking Limited (SPZ, formerly Car Parking Technologies Limited, CPZ, listed in 2007) has developed and sold car parking technology hardware, software and associated products and services in New Zealand, Australia, and the UK. It acquired a car park management business in the UK offering income, downstream synergies and a test-bed. This required substantial re-direction of management effort but has now been satisfactorily worked out following management changes and property sales.
Smart Parking now has teams in New Zealand, Melbourne and the UK, rejuvenated during 2013 with the appointment of a CEO with substantial experience in the field. Its patented product suite, developed and manufactured in New Zealand, is arguably well ahead of other competitors and the company has recently won three significant and possibly pivotal contracts.
In New Zealand, the Rotorua District Council has contracted SPZ to instal 1,500 parking sensors in Rotorua's main on street parking areas and to provide ongoing parking data to the Smart Parking App (for real time on-street parking availability) and to the Council for operational purposes to assist the regulation of parking. This follows a successful trial with the Council earlier this year.
In Australia, Sydney's Waverley Council has chosen SPZ products and software at Bondi Beach. The contract was awarded to one of SPZ's distributors, APARC, for installation of 883 parking sensors at Bondi Beach's main on street parking areas, with provision of data to the Smart Parking App and the Council. Again it follows a successful trial earlier this year.
In England, Westminster City Council, London, awarded SPC a contract to provide parking sensor products and technology within the borough. This provides for a stage 1 installation of 3,000 parking sensors and provision of ongoing parking data to the Smart Parking App (for real-time on street parking availability) and to Westminster for operational purposes (including regulation).
While Smart Parking also has widespread worldwide application in off-street and institutional car parks, which SPZ is also actively pursuing, these three contracts, especially the last with the highest visibility in London's most prominent of many large boroughs beset with parking problems, indicate the level of confidence now won by SPZ.
We understand that the smaller contracts should be installed by end 2013 and the stage 1 Westminster contract operating in the first half of 2014. Watch this space!
Recent News Highlights
As at 24/01/2012 : see details at www.ramsayhealth.com.au
| 22/12/2011 |
Half-yearly Performance & Estimates - SPZ
| Year-end June | FY11A | 1H12A | FY12A | 1H13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 1.4 | 1.1 | 12.9 | 11.6 | 20.7 | 0.00 | 0.00 |
| EBITDA, $m | -0.74 | -1.2 | -4.2 | -1.6 | -3.6 | 0.00 | 0.00 |
| EBIT, $m | -1.2 | -1.8 | -5.7 | -2.6 | -5.7 | 0.00 | 0.00 |
| Report NPAT, $m | -1.2 | -1.7 | -5.9 | -2.6 | -6.0 | ||
| Adj. NPAT, $m | -6.0 | 0.00 | 0.00 | ||||
| Reported EPS, ¢ | -1.00 | -1.00 | -3.00 | -1.00 | -3.00 | ||
| Adjusted EPS, ¢ | -3.00 | 0.00 | 0.00 | ||||
| EPS %FY/Growth | 33% | 200% | 33% | 0% | -100% | ****% | |
| Dividend, ¢ | 0 | 0 | 0 | 0 | 0 | 0.00 | 0.00 |
| Franking, % | - | - | - | - | - | - | |
| EBITDA Margin | -55% | 0 | 0 | -14% | -17.4% | ******% | ******% |
| NPAT Margin | -87% | 0 | 0 | -22% | -29.0% | ******% | ******% |
| ROE, % | -5% | 0 | -29% | -15 | -44% | ||
| EBIT/Interest | 3.7 | 0.0 | -54.7 | 62.88 | -62.68 | ||
| Net Debt / Equity | -0.19 | 0 | -0.55 | -0.36 | -0.31 | ||
| CashFlow/Sh, ¢ | -2.3 | -0.7 | -2.4 | -1.2 | -2.7 | 0.00 | 0.00 |
| Y/E Shares, m | 156.2 | 133.4 | 152.3 | 152.2 | 208.4 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns, except 1H11A and 1H12A which show the first half % of full year EPS. In a handful of cases, unadjusted share splits may give strange changes in ratios. |
Company Overview
Profile
Smart Parking
Rating:
Category: Spec Stock ;
Action:
Website: www.carparkingtechnologies.com
| ASX code: | SPZ |
| Closing Price, 03/12/2013: | $ 0.260 |
| Market Capitalisation: | $ 54 million |
| 52 Week High: | $ 0.32 |
| 52 Week Low: | $ 0.13 |
| Sector: | Technology Hardware & Equipment |
| Index: | S&P/ASX Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | -5.2 | -6.0 | 0.0 | 0.7 |
| Reported EPS, ¢ | -3.00 | -3.00 | ||
| Adjusted EPS, ¢ | -1.80 | 0.00 | 0.30 | |
| EPS Growth, % | 200% | -40% | -100% | **********% |
| P/E Ratio, x | -8.67 | -14.44 | 86.67 | |
| Dividend, ¢ | 0 | 0 | 0.00 | 0.00 |
| Franking, % | - | - | - | - |
| Div. Yield, % | 0.00 | 0.00 | 0.00 | 0.00 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
One Year Chart
As at 30 December 2013
Other Highlights
| Sector: | Technology Hardware & Equipment |
| Return on Equity, FY13 : | -44% |
| Net Debt to Equity, FY13 : | -31 % |
| EBIT / Interest Cover, FY13 : | -62.68 x |
| Gicscode: | 45200000 |
| First Listed: | 9-Jan-07 |
Business Activities
Smart Parking Limited (SPZ), formerly Car Parking Technologies Ltd (CPZ), is commercialising its car parking technology and its UK car parking operations, in Australia, New Zealand, UK and to other overseas customers.
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |