SPZ results were mixed and the market appears to agree.

Revenue result at $26.7M was ahead of my expectation.

Extra revenue has not resulted in the PBT I was hoping to see as expenses have increased:

Employee expenses up 15%

Depreciation up 24%

Other up 22%

Let's see what they have to say on the call.

1H24 Results due Monday 19 Feb.

Reviewing my expectations prior to the release to gauge company growth projections.

I expect to see the following as a minimum:

1H24 Rev $26M

1H24 NPBT $5M

Sites 1230

Expect costs to increase to accommodate German rollout but hopefully these costs are offset by increased revenue.

Anything less will be a disappointment. Better is a bonus.

Smart Parking (SPZ) are due to release FY23 results on Monday.

While there should be no surprises to the market (as the market is updated with quarterly results) I find the growth profile of SPZ quite compelling.

Expect FY23 Rev of at least $43.5M+ (3Q23 $32.5M cumulative) which equates to a 2 year compound growth of 45%.

Sites and breach notices have been growing at +30% over the previous year.

Will be looking for meaningful growth in Germany and some update on the Queensland regulatory issues.

Share price appears significantly undervalued for the growth achieved and outlook. Possibly some hesitation due to regulatory risk?

Will update valuation following release of results. 

Heard on ABC radio this morning that the Qld Government will from next week prevent companies from access to private registration details of vehicle owners.

No announcement from SPZ though.