• Revenue up 20% to $32.0m
• Net profit after tax up 70% to $3.9m
• Adjusted EBITDA up 26% to $9.5m

Smart Parking Ltd has reported a strong financial performance for the first half of FY25. The Group's revenue increased by 20% to $32.0m compared to the prior corresponding period, driven by growth in new operating territories and acquisitions. Net profit after income tax increased by 70% to $3.9m, with the outstanding result attributed to increased revenue from new sites and significant positive foreign exchange gains. Excluding investment in the new Denmark operations, net profit after income tax would have increased by a further $1.0m, a total 115% increase to $4.9m. The Group's Adjusted EBITDA, which excludes the effects of non-recurring and non-operating items, increased by 26% to $9.5m. The Parking Management division saw revenue increase by 24% to $31.1m, with strong performance in New Zealand, the UK, and Germany. The Technology division revenue decreased by 47% to $0.8m as the focus shifted to higher margin products and growing the Parking Management division. The Group continues to invest in research and development, capitalizing $0.4m of development costs during the period. The Group remains focused on its strategy of growing the installed number of ANPR sites to 3,000 by 31 December 2028, which is expected to drive increased revenue and earnings growth.

The Group reported Adjusted EBITDA of $9.5m for the half-year ended 31 December 2024, an increase of 26% compared to the prior corresponding period.

The Group is well placed to take advantage of opportunities as they arise, with all countries in which the Group operates (with the possible exception of Australia) having significant opportunity for growth. The Group remains focused on its strategy of growing the installed number of group ANPR sites to 3,000 by 31 December 2028, which is expected to drive increased revenue and deliver earnings growth.