• UK PBNs return to growth, volumes up 10% YoY
• Profitability increasing in Germany, site installations and PBN issuance accelerating
• Transitioning Switzerland to growth phase following major investments

Smart Parking Ltd (ASX:SPZ) has provided a positive update on its performance and growth strategy at its Rapid Insights Conference. In the UK, the company has seen a return to growth in Parking Breach Notices (PBNs), with volumes up 10% in the January to April period compared to the prior corresponding period. This growth has been achieved despite macro challenges, and the company has also seen 115 new live sites added during this period. Improved aged debt recovery processes are also ongoing. In Germany, the company is reporting increasing profitability, with site installations and PBN issuance accelerating, up 52% in the April financial year-to-date period compared to the prior corresponding period. In Switzerland, the company is transitioning to a growth phase following the completion of major investments, with new contracts and installations now scaling. The company is also investing for growth in the US, scaling its sales team and acquiring new locations in prioritized territories. Overall, the company is in the early stages of a long-term growth runway, building the foundations for enduring success. The company has a robust balance sheet, providing the optionality to pursue strategic M&A opportunities to drive increased scale and earnings accretion.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics or other company-specific metrics.

The company is in the early stages of a long-term growth runway, building the foundations for enduring success. The company is pursuing strategic M&A opportunities to drive increased scale and earnings accretion.