Half Year 2020 Gentrack Group Ltd Earnings Call Transcript
Good day, and welcome to the Gentrack FY '20 Half Year Results Update. Please note that today's call is being recorded.
I would now like to turn the conference over to Mr. John Clifford, Chairman. Please go ahead, sir.
Thank you. Good morning, all. Welcome to the call for Gentrack's half year results to 31 March '20. I'm pleased to be joined on the call from another location by James Spence, who joined Gentrack as CFO in April, following a career in the energy sector, most recently at ERM Power.
Turning to Slide 3. Our results for the half to March are clearly disappointing but in line with our guidance of $2 million to $3 million EBITDA given at the AGM in February. EBITDA was $2.8 million on a comparable basis or $4.3 million after the positive impact of IFRS 16. Revenue was $50.6 million, down 7% on last year's comparable period, reflecting the loss of a number of U.K. customers due to supplier failure and acquisitions and a reduction in nonrecurring project work in the U.K. and
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