Market Update

Gentrack Group Limited (NZX/ASX:GTK) has been informed by an Australian customer that Gentrack is no longer part of a process aimed at replacing their current platform. Whilst the financial impact of this does not warrant disclosure, out of caution we are providing this update to our investors.

History shows that such replacement programs are lengthy and uncertain. We do not expect this decision to negatively impact revenues either this financial year or next. We remain confident of delivering our medium-term guidance of growing revenue at more than 15% CAGR and a 15-20% EBITDA margin after expensing all development cost.

Following our full-year earnings announcement in November, Gentrack is planning an Investor Day in the first week of December and we look forward to providing market updates at that time.

About Gentrack

We are entering a new era, with utilities worldwide transforming to meet business and sustainability targets. For over 35 years Gentrack has been partnering with the world’s leading utilities, and more than 60 energy and water companies rely on us.
Gentrack, with our partners Salesforce and AWS, are leading today’s transformation with g2.0, an end-to-end product-to-profit solution. Using low code / no code, and composable technology, g2.0 allows utilities to launch new propositions in days, reduce cost-to-serve and lead in total experience.

https://www.gentrack.com

ENDS

Contact details regarding this announcement:
Anna Ellis
Company Secretary
Gentrack Group Limited
+64 9 966 6090

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Announcement PDF