2018 Interim Results Investor Briefing Presentation

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FY18 Interim Results Presentation
For the six months ended 30 September 2017

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Welcome to Serko Interim Results
Presentation
Darrin Grafton
Chief Financial Officer
Susan Putt
Chief Executive Officer

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Agenda
•CEO Introduction
•Financial results overview -CFO
•StrategicUpdate –CEO
•OutlookUpdate -CEO
•Shareholder Q&A

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Strong Improvement in All Key
Measures
Notes 1 –5: Refer to Appendix for Definitions
AnnualisedTransactional Monthly Revenue (ATMR) of $17.8m is as at Aug 2017 and represents peak for the period whereas Sept 2017 is seasonally affected by AUS
school holiday period. % increase calculated against Aug 2016 of $13.9m
Recurring revenue
89% of total
operating revenue
$9.1m
30%
TOTAL
REVENUE
INCREASE
Core product
revenues
$8.0m
25%
RECURRING
REVENUE
2
INCREASE
Total income
from all sources
including Grants
$9.6m
26%
TOTAL
INCOME
INCREASE
Opex$2.23m
Capex $0.14m
26% of Revenue
$2.4m
24%
R&D
COSTS
3
DECREASE
Net FTE
5
decrease in
the period
$8.5m
12%
OPERATING
COSTS
4
DECREASE
Performance dashboard (1HFY18 vs 1HFY17)
Period on Period
growth for 1H
FY18
21%
ONLINE
BOOKINGS
INCREASE
21%
Indicator of future
growth potential
$17.8m
28%
ATMR
1
INCREASE
PROFITACTIVITYREVENUECOSTS
Profit for period
compared to prior
year loss of $2m
$1.2m
$3.2m
NET PROFIT
BEFORE TAX
TURNAROUND
Profit for period
compared to prior
year loss of $2m
$1.2m
$3.2m
NET PROFIT
BEFORE TAX
TURNAROUND

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ATMR Rises In Line With Strong
Transactional Growth
PEAK ATMR COMPARISON
ONLINE BOOKING TREND BY HALF

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Revenue Growth and Cost Control
Lifts Earnings
•Significant increases in Revenue
across all sources
•EBITDA $1.3 million (same
period last year was a loss of
$1.8 million)
RECONCILIATION OF NET PROFIT BEFORE TAX TO EBITDA

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Strategic Focus Recap

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Innovating for the Future

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Growing Our Customer Base

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Growing ARPB

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On Track for Full-year Net Profit
Total Operating Revenue expected to be in the range of $18 to $19 million for
FY18
On track to achieve:
•October 17 ATMR was $17.8 million in line with Aug peak and expected to grow on
back of strong content and transaction growth
•October 17 transactions approximately double the level of transactions two years ago
•Second half FY18 revenue expected to be 25-30% higher than same period last year
•EBITDA, NPBT and cash flow expected to be break even for second half
•Second half traditionally affected by seasonality
•Investment into new territory expansion will result in increased expenditure

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Q&A

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Definitions
Note: Non-GAAP financial information does not have a standardisedmeaning prescribed by GAAP and therefore may not be comparable to similar financial
information presented by other entities. Non-GAAP measures are used by management to monitor the business and are useful to provide investors to access
business performance.
•ATMR (Annualised Transactional Monthly Revenue) is a Non-GAAP measure. Serko uses this as a useful indicator of future recurringrevenues from Serko
products based on the month’s transactions multiplied by ARPB, on a constant currency basis.
•ARPB (Average Revenue Per Booking) is a Non-GAAP measure.
•Recurring product revenue (a Non-GAAP measure) is the recurring revenue derived from transactions and usage of Serko products bycontracted customers.
It excludes revenues from customised software development.
•R&D (Research & Development) costs is a Non-GAAP measure representing the internal and external costs related to R&D both expensed and capitalised.
•Operating Costs is a Non-GAAP measure which excludes costs relating to taxation, interest, depreciation, amortisation and impairment charges
•EBITDA is a Non-GAAP measure representing Earnings Before the deduction of costs relating to Interest, Taxation, Depreciation and Amortisation and
Impairment.
•NPBT = Net Profit Before Tax
•FTE = Full time equivalent employee

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Important Notice
This presentation is given on behalf of Serko Limited. Information in this presentation:
•is for general information purposes only, and is not an offer or invitation for subscription, purchase, or recommendation of securities in Serko Limited;
•should be read in conjunction with, and is subject to, Serko’s Interim and Annual Reports, market releases and information published on Serko’s website
(www.serko.com);
•includes forward-looking statements about Serko and the environment in which Serko operates, which are subject to uncertainties and contingencies outside of
Serko’s control –Serko’s actual results or performance may differ materially from these statements;
•includes statements relating to past performance, which should not be regarded as a reliable indicator of future performance;and
•may contain information from third-parties believed to be reliable; however, no representations or warranties are made as to theaccuracy or completeness of
such information.
•Interim results are unaudited.
All information in this presentation is current at the date of this presentation, unless otherwise stated. All currency amounts are in NZ dollars unless stated
otherwise.