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Smartpay Holdings Limited (NZX: SPY) Interim Result Announcement and Half Year Report

Wednesday 25th November 2020

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The Board of Smartpay is pleased to announce its half year results to 30 September 2020.

Business Highlights

• We are achieving record levels of lead generation and sales conversions in our Australian business off the back of our growing market presence, increased marketing activity and brand awareness campaigns.

• We are achieving this top-level growth together with continued increase in acquiring margin through the period.

• Australian transacting terminals grew to 4,611 at end September. Current transacting terminals has further increased to 5,098 as at the end of October.

Six Months Financial Highlights

• Revenue $14.5m, an 8% increase on the prior year $13.4m.

• Australian acquiring revenue:

  - $6.3m, a 67% increase on the prior year $3.8m.

  - Strong recovery post Covid-19 with September the largest month on record.

  - Current annualised run-rate over $19m (based on October) compared to $9.5m for the entire FY20 financial year.

• EBITDA of $3.4m, a 6% decrease on prior year. The result includes approximately $500k adverse Covid-19 related impact to the business and significant ramp up in marketing and sales activities.

• After Tax Loss of $9.2m largely driven by $7.7m non-cash fair value adjustment of existing convertible notes – a direct result of our strong share price increase.

• Net debt, excluding convertible notes, has reduced significantly to $4.8m from $19.4m at the beginning of the period through the capital raise.

See the links below for more details:

FY21 Interim Results Announcement

Half Year Report

Interim Result

Source: Smartpay Holdings Limited

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