Gentrack Group (ASX:GTK) Achieves 34.7% Profit Growth in H1 2025
Financial Performance
Gentrack Group Limited reported revenue of $112 million for the half-year to 31 March 2025, reflecting a 9.8% increase compared to H1 2024. The Group’s recurring revenues rose by 16.7% to $76.4 million, while EBITDA reached $13 million, up 5.1% from the previous year. Net profit after tax (NPAT) surged by 34.7% to $7.2 million, and cash reserves increased to $70.7 million, up from $39.3 million at the end of H1 2024.
Operational Highlights
Revenue growth was driven by a 7.2% increase in the Utilities business to $92.8 million and a 24% rise in Veovo’s revenues to $19.2 million. The Group secured several long-term billing renewals and achieved significant milestones, including major operational launches in Edinburgh and Saudi Arabia. Veovo also won London Gatwick’s Integrated Airport Control project, enhancing its AI/ML capabilities.
Future Outlook
For FY25, Gentrack expects revenue to be at or above $230 million and an EBITDA margin above 12%. The company plans to continue expanding into Asia, the Middle East, and Europe, with a mid-term guidance of growing revenue by more than 15% CAGR and an EBITDA margin of 15-20%.
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