Thank you for standing by, and welcome to the Infomedia Ltd full year results. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by number one on your telephone keypad. I would now like to hand the conference over to Jens Monsees, Chief Executive Officer. Please go ahead. Thank you, Fari. Good morning, everyone, and welcome to Infomedia's 2022 full year results. My name is Jens Monsees. I am the CEO and Managing Director of Infomedia, and I'm joined today by my friend and colleague, Infomedia CFO, Gareth Turner. If you have joined through the web link, you will see the presentation attached, and I will refer to the slide numbers as we move through the results. On slide number 2, as is customary, please see the disclaimer. We start with the agenda on slide number 3. We welcome your questions after Gareth and I have gone through the presentation. We will be covering three sections today. I will first guide you through a high-level business overview and FY 2022 highlights, followed by a more detailed review of the FY 2022 financial performance by Gareth. I will then finish with a discussion of Infomedia's next chapter of growth and the outlook for FY 2023. I would also like to share with you the areas of focus during my first 3 months in the CEO role, and to summarize for you my early thoughts on Infomedia's opportunities for revenue and earning growth. Slide number 4. First, I want to take this opportunity to say thank you to all my new colleagues at Infomedia, our clients around the world, and the board for the warm welcome and the dedicated support over the last 90 days. It's an honor to present the full year results to you, our shareholders, together with Gareth. You might have noticed from my accent that I'm from Germany. I have called Australia my home since 2019, when I moved here with my family, so that I could lead the successful transformation of ASX listed company, WPP AUNZ. It is exciting for me to now be back in the automotive software industry, where I spent most of my executive career. In between two roles at BMW Group headquarters in Germany, I spent almost eight years at a global automotive fleet at Google. My colleague, Gareth, who joined Infomedia as the CFO a year ago, also has a background in both technology and ASX listed companies, and I'm very pleased to be working closely with him. He has done an amazing job with increasing transparency and context to Infomedia's financial reporting. On slide number 5, for those of you who follow Infomedia closely, you will be familiar with these snapshots of our suite of solutions, global presence in terms of customers, and our most valuable asset, our people and talent. For those investors on the call that are new to the company, I would like to highlight a few features of our mission-critical solution portfolio. In general, Infomedia helps our clients, who are some of the world's leading automakers, which we refer to OEMs, and also national sales companies and dealership networks, to drive efficient customer engagement and profit from vehicle servicing and the sale of genuine parts, collectively described as aftersales. Our four solution groups form the foundation of a growing SaaS and BaaS ecosystem. The first solution line is Microcat, a powerful and comprehensive suite of electronic parts catalog that drives original manufacturer's parts sales and dealership profitability. Superservice is a VIN-precise, data-driven solution for managing the service line at dealerships with online appointment tools, real-time quoting, and enhanced vehicle inspection tools. SimplePart is the leading e-commerce solution in the U.S. for parts and accessories. We acquired SimplePart approximately 15 months ago, enabling a new and growing channel for automakers and dealerships. Infodrive is the pure SaaS solution built on data analytics, predictive marketing, and connected car solutions for BI and customer retention. With around 95% of our revenue being recurring and our global revenue split across Asia, Pacific, EMEA, and the Americas regions, we are empowering the data-driven automotive ecosystem. In the last 4 years, Infomedia has recorded double-digit and annualized average top-line revenue growth. Slide 6. Due to our innovative solutions and our partnerships approach to working with our customers, Infomedia has been highly successful in establishing deep and long-term relations with our global clients. Some of our OEM relationships span well over two decades and continue to go from strength to strength. Infomedia's scalable solutions empower automakers to offer a consistent brand experience in every dealer, regardless of size or location around the world. At the regional level, data-driven solutions provides critical parts and service information to run effective parts distribution, operation, and drive customer experience programs across the dealer network. Locally, Infomedia provides dealerships with integrated technology powered by genuine OEM data to boost after-sales productivity and sales. Dealer teams can deliver digital-first customer care that promotes trust, pricing transparency, and consistency, brand loyalty in the dealerships and online. In addition, we are increasingly partnering with approved third-party solution providers to improve speed and accuracy of sales processes in the wider retail automotive ecosystem. If you move to slide number 7, Infomedia operates across three primary regions, being the Americas, EMEA, and APAC. This slide provides a snapshot highlighting the revenue diversification across the three regions. Also shown here are our key solutions in each region. I see personally significant cross and upsell opportunities, especially for our data solutions, such as Infodrive and SimplePart. We are ready to expand globally in all the 3 regions based on our strong OEM partnerships. I'm very pleased to have already been able to visit all of our regional offices and to have met with various global teams across the organization. On slide 8, you see my first 90 days impressions. During my first 90 days at Infomedia as a new CEO, it was great to meet and listen to our key clients. I very much enjoyed discussing their future strategic roadmaps and to identify areas where we can best support them to achieve their goals. Based on these insightful dialogues, we have identified a range of growth opportunities and operational excellence initiatives. I'm excited to share some of my immediate actions, and I will provide more color later in the section 3 of the presentation. I would also like to mention that I learned a lot about our company through the ongoing engagement and interactions with our various bidders who expressed interest in Infomedia, and I continue to support the current process. On slide 9, Infomedia finishes FY 2022 on a high note with our full year total revenue, up by 23% to AUD 120 million. This includes the full 12 months contribution from SimplePart, which we acquired at the end of May 2021. Underlying cash EBITDA for FY 2022 was AUD 25 million, a pleasing increase of 29% over the previous year. Excluding the impact of SimplePart, it was encouraging to see that our organic revenue grew by 8%, and even better was delivering on organic underlying cash EBITDA growth of 13% year over year. Growing earnings more than revenue demonstrates the operating leverage inherent in the business. Our revenue base is balanced across all three regions. Based on the market penetration and the success that we have achieved in Australia, it is clear to me that we can further push our global expansion, in particular in the U.S. and also in EMEA. In FY 2022, we achieved 25% organic growth with our Infodrive solutions, and momentum continues to build as we expand further into the key growth regions. The acquisition of SimplePart has further enhanced our solution portfolio in the growing e-commerce segment, which many of our customers are now leveraging as an additional channel to drive sales and profitability. While SimplePart is still in early days of integration into the Infomedia family, we are seeing take-up of this solution by our customers in Australia and in Europe with the first signed contracts. Our free cash flow rose by 79% to AUD 22 million, and we have declared a AUD 0.03 per share final dividend, taking the full year dividend to AUD 0.056 per share, which is a nice increase of 26% over 2021. To wrap up the highlights of a strong FY 2022, we continue to see strong growth momentum going into FY 2023, with an exit ARR at 30th of June 2022 of over AUD 119 million. Slide number ten. Having an international background, it is very pleasing for me to see our regional revenue growth continues organically as well as through successful M&A. This slide illustrates some highlights, and I like to single out the strong growth rates achieved by our SaaS solutions. Infodrive in EMEA of 157% and in the Americas of 82%. We will continue to focus on this high growth solutions, and I will touch on some growth initiatives later in the presentation. I'm very encouraged by our newest member of the Infomedia family, SimplePart, and how our people are working together to drive upsell and cross-sell, leveraging off our large global client base. For example, our first SimplePart APAC client, Renault Trucks, and first EMEA client, Hyundai Iceland, were contracted in FY 2022. Moving on to slide number 11. As a trusted global partner to our clients, we drive our revenue growth from long-term contracts. We believe in adding value to our clients is the best way to keep our clients happy and more profitable. This can be seen on the growth of ARR and its continuing momentum in FY 2022. Slide number 12. Infomedia today is the culmination of nearly 30 years of organic growth and strategic acquisitions of businesses that enhance our solution suite. We intend to continue to pursue refine the successful formula. Our category-leading Microcat and Superservice product lines grew steadily in FY 2022, while our SaaS solution, Infodrive and SimplePart, continue to deliver strong growth in ARR. Slide number 13. We are dedicated to driving our business in all areas, and I can assure you whatever the future brings, we are 100% focused on our business. The recent interest we received from several bidders is a testament of the value we are generating every day with and for our clients. Infomedia will keep shareholders updated on material developments in accordance with continuous disclosure obligations. I do like to say a big thank you to our hardworking staff who remains focused on delivering in their various roles and taking on additional tasks in this engagement. I'm proud to lead the team of high performers. Speaking about high performers, now I would like to hand over to our CFO, Gareth Turner, who will take you through a more detailed review of our financial performance. Over to you, Gareth. Thank you, Jens, and good morning, everyone. I'm very pleased to add my warm welcome to Jens in this, his first Infomedia results briefing. Although he is only 90 days in, I know I speak for my colleagues when I say that we're very excited and energized by what Jens has already started to bring to the business as our new CEO. Turning to slide 15, Infomedia's FY 2022 financial highlights. Infomedia has continued to record strong revenue growth with FY 2022 total revenue of AUD 120 million in line with our guidance and up 23% on last year. This reflects ongoing positive momentum in annual recurring revenue or ARR, which was just over AUD 119 million at the end of June 2022. 95% of Infomedia's revenue is recurring, and this provides a strong platform for our revenue momentum to continue into FY 2023. FY 2022 demonstrated good operating leverage with underlying cash EBITDA up 29% and exceeding the corresponding increase in revenue of 23%. This positive operating leverage is also evident on an organic basis, that is excluding the SimplePart acquisition, and I'll talk more about that in a later slide. Reported net profit after tax of AUD 8 million was heavily impacted by AUD 14 million of higher non-cash and non-operating items during the year. Again, I'll go into more detail about these items impacting reported NPAT in a subsequent slide. Infomedia's balance sheet is very robust with net assets of AUD 147 million, cash on hand of AUD 69 million and no debt. Infomedia has continued to show very strong cash generation with free cash flow, that is cash generated from operating activities after CapEx and after capitalized development spend, up 79% on last year. Our directors have declared a final dividend of AUD 0.02 per share, up 14%, taking FY 2022's total dividends to AUD 0.056 per share, which is up 26% on last year. In summary, the key message for Infomedia's FY 2022 financial results is that a very strong operating performance has lifted year-on-year free cash flow by 79% and lifted dividends to our shareholders by 26% year on year. Turning to slide 16. This highlights Infomedia's diversity globally and the strong ARR contribution from each region. Inclusion of SimplePart into the Americas has added further scale and opportunity in that region, and Infomedia's ARR is split approximately a third between each of the three regions. This global diversity is a key strength of the business, showing Infomedia's global reach and reduced regional concentration risk. Slide 17 shows the diversity of Infomedia's ARR across customer cohort. It illustrates that Infomedia supports customers right across the spectrum of industry participants globally, from the very large OE relationships through to large national sales companies, dealer groups, and down to individual dealers. In percentage terms, the mix of ARR between customer cohorts has been stable over many years, highlighting the strength in Infomedia's market position and coverage. Slide 18 visually encapsulates Infomedia's strong revenue growth over the past six years, continuing into FY 2022 reported today. Revenue for FY 22 of AUD 120 million was up 23% on prior year. Net currency movements were more subdued during FY 22, with revenue of AUD 121 million when calculated on a constant currency basis. Slide 19 depicts Infomedia's operating performance as detailed in our segment notes in the accounts. We've also shown a pro forma for Infomedia without SimplePart to the right. This has been provided as it is useful to investors to see the organic performance of the group without SimplePart. We only expect to provide this pro forma during FY 22, after which the results inclusive of SimplePart will become the baseline for comparison in FY 23 and beyond, as SimplePart becomes increasingly integrated into the group. Underlying cash EBITDA growth of 29% on last year exceeded revenue growth of 23%. This performance reflects the inclusion of SimplePart for 12 months of the financial year. On an organic basis, excluding SimplePart, underlying cash EBITDA grew 3%-13%, while revenue grew 8% on last year. Positive operating leverage has been achieved both organically and in total. This is evident in the underlying cash EBITDA percentage to revenue increasing at the same rate for both the total group and organically excluding SimplePart. Moving to slide 20. This table is taken from the lower half of our operating segment notes and walks from underlying cash EBITDA to reported statutory net profit after tax. This highlights several non-cash, non-operating items that had a significant impact on our reported NPAT. Capitalized development expenditure was $3 million lower this year as a result of the development focus changing post NextGen towards product roadmap and customer project delivery. Depreciation and amortization increased by AUD 9 million from FY 2021, almost all of which was due to increases in amortization of NextGen capitalized development expenditure and higher amortization of new intangible assets from the SimplePart acquisition. The net increase in non-operating items of AUD 5 million was almost all driven by the expensing of earn outs on the Nidasu and SimplePart acquisitions. Both of the acquisitions have been highly successful purchases for Infomedia. Paradoxically, as these businesses have performed better and the earn outs have increased, so has the charge against reported NPAT under the accounting rules. It is worth noting that altogether, these items had a significantly negative impact on reported NPAT, despite the positive operating performance in the business. Moving to slide 21. Infomedia has a very robust balance sheet. At the end of June 2022, net assets were AUD 147 million, with AUD 69 million of cash on hand. Improved cash collections and lower days sales outstanding or lower DSO have kept receivables relatively flat despite higher sales. The completion of NextGen, with lower capitalization and higher amortization, has driven the reduction in the intangible asset balance. The significant increase in accruals for earn outs on our highly successful Nidasu and SimplePart acquisitions, as discussed in the previous slide, are captured with the employee benefits within the employee benefits liabilities shown on the balance sheet. Infomedia has no debt. With a very robust balance sheet, very strong cash generation, and no debt, Infomedia continues to have significant capacity to pursue accretive M&A opportunities, and this remains a key strategy of the business. Moving to slide 22. This highlights Infomedia's very strong cash generation, with free cash flow that is cash generated from operating activities after CapEx and after capitalized development expenditure, up a significant 79% this year. Directors have declared a final dividend of AUD 0.03 per share, franked to 14%, taking FY 2022's total dividends to AUD 0.056 per share, which is up 26% on last year. The increased dividends declared this year reflects the improved revenue momentum, underlying cash EBITDA, and free cash flow performance of the business. I'll now hand back to Jens. Thank you. Thank you, Gareth. We are moving to slide 23 now. First, thank you for your detailed analysis. After this deep view into the rear mirror, I would like to provide an update on where we see our next chapter of growth in the exciting and evolving global automotive sector and share our outlook for FY 23. On slide 24, as thought leaders in our industry, we have identified five key trends. These mega trends did not emerge overnight. Back in my role as Global Chief Digital Officer at the BMW Group, I mapped out the data-driven opportunities for OEMs and paid close attention to the forces of the digital transformation of the automotive industry. The first trend, electric vehicles are here to stay, and they are growing. By the way, the European Union decided that no non-electric vehicle can be sold in 2030. The EV companies sell amazing products and capture vast amount of data about cars and their drivers to continuously enhance customer experience. The growing EV segment offers an opportunity for Infomedia to expand our DAS solutions and support the OEMs and third-party stakeholders to better harvest a tremendous opportunity. As the OEM fleets on our roads are getting more connected, and I'm talking now about the second trend, connected car, Infomedia is already partnering with OEMs like BMW Australia to leverage the data-driven one-to-one communication to foster long-term customer loyalty. There is naturally opportunity to build on our existing partnerships with OEMs and globally scale our innovative solutions. With 5G kicking in, the car data volume continues to rapidly increase. I envision our solutions becoming more and more embedded with our clients, and together, we are delivering superior customer experience throughout the life cycle. The customer and vehicle life cycle are centerpieces for dealerships in the fast-emerging agency model. With our solutions increasingly integrated into various dealer management systems, we are the go-to solution for over 30,000 unique rooftops across our three regions. We are in an ideal position to support our clients transitioning to the agency model and to work with both the OEMs and their dealership partners to gain a better insight in the entire customer journey. Moving to the next trend, which is data-driven solutions. In my early slides, you probably detected a pattern in my analysis of data-driven solutions, including Infodrive and SimplePart. The driving force in our industry is data-driven customer experience. It underpins the one-to-one direct communication at all stages of the customer life cycle, and also even in car. That's an exciting part. This is an exciting and fast-growing segment of the industry, and Infomedia is well-positioned to capture these exciting new opportunities. Finally, the global market of B2B software solution providers for the automotive industry is still highly fragmented, and we expect further consolidation. With our global footprint, our innovative solution ecosystem, as well as our existing OEM partnerships, we are in a unique position to continue our successful journey of acquisitions. We have already generated critical mass and huge data assets in our systems. Combined with our deep domain knowledge, we are well-positioned as this future one-stop solution provider. Slide number 25, we are very fortunate to be at the forefront of the market segment in which we are operating. Our genetic code was always to operate and manage massive amount of data. The predicted CAGR underpins that there was never a more exciting time to be in the digital and data era of automotive. Across the global automotive software market, auto big data market, and the connected car solution market, the total addressable market is expected to grow at double digits to over $80 billion in 2026. Moving to slide number 26, we have identified in our recent strategy review these mega trends and opportunities for our next chapter of growth. Based on our in-depth understanding and domain knowledge, we inspire personalized customer experience and enable a seamless and convenient vehicle and customer journey driven by data. By pollinating data across our existing solution groups, we offer our clients a unique opportunity to capture more sales opportunities and increase customer loyalty. I'm very confident that we hold all the ingredients in our hands to roll out the solution roadmap and work closely with our clients to drive growth and profitability for them and for us. On slide 27, together with the leadership team, we have defined our new North Star, how to navigate and prioritize our future growth ambitions. At Infomedia today, we have over 1 billion VINs in our rich data asset that continues to grow. As a successful tech company, we have one foot firmly in the present of our core products, and with the other, we are confidently striding forward into the future. I'm excited to share with you that we have ticked those boxes. We are ready for the future. On slide number 28. Earlier in the presentation, I shared with you some of the highlights from my first 90 days as CEO, and I would now like to expand on my priorities to deliver continued growth and enhanced profitability. We have developed a clear plan for our future, and now it is all about fast and diligent execution. As a German, I know what I'm talking about here. In the left column, you can see a snapshot of key growth accelerations initiatives driven by our new vision. We are targeting global expansion, focusing on the Americas and EMEA, and to further grow SimplePart and Infodrive outside their current home regions. We will increasingly leverage our large existing data assets across our solution ecosystem and capture more data opportunities. We will continue to drive opportunities in timely and disciplined future acquisitions to strengthen and broaden our solution ecosystem. If you look at the right column of the slide, I'm confident that we can boost our margin through the various operational excellence initiatives we have identified at our leadership offsite. Making investments that deliver sustainable annual cost savings and efficiency will lead to margin expansion, improve operational leverage, and ultimately drive a higher value creation over time. This approach has been aligned with the entire organization to foster a more accountable, performance-driven culture. A guiding theme of our business is agile like a startup and deliver like a grownup. We will carefully balance cost efficiency with operational efficiency. Our operational excellence is measured in both margin expansion and continuous improvement in solution development and delivery for our customer. Moving to slide number 29. Infomedia has a positive outlook heading into FY 2023, and we expect the total revenue to be between AUD 131 million and AUD 139 million. Around 95% of our annual revenue is recurring, which gives us a strong starting point. We have a growing pipeline of new revenue opportunities that will add to the annual recurring revenue base in the future. We are also confident that Infodrive and SimplePart will deliver double-digit revenue growth in FY 2023. Our focus is to accelerate our existing ARR that drives shareholder value. As previously mentioned, operational excellence initiatives are expected to improve our underlying cash EBITDA in FY 2023 and beyond. Slide number 30. Before I hand over back to the operator to open up for questions from the audience, I'd like to say a big thank you to Jim Hassell for his leadership as the interim CEO, and the board and our chairman for their continued support. I want to thank our customers across the three regions for the very exciting meetings I had across the planet, for their long-standing partnership, and looking forward to working closely together with them in the year ahead. Last, but definitely not least, I would like to thank our 500 strong global team for their continuing hard work and the passion that you all show every day. Together, we are empowering the data-driven automotive ecosystem and write our next chapter of growth. Thank you, and back to the operator. Ari? Thank you, Mr. Monsees. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you are on a speakerphone, please pick up the handset to ask your question. Your first question comes from Tim Plumbe from UBS. Please go ahead. Hi, guys. Just a couple of questions from me, and then I'll jump back into the queue if possible. Jens, a really impressive result in terms of Infodrive. Can you maybe talk a little bit more about the traction that you're getting there in the new geographies, and maybe also just a little bit about how that sales pipeline is looking at the moment, please? Yeah. I see Australia as a role model for Infodrive. Here we have obviously the proximity to our clients, and to the dealerships. We have the right blueprint, and now we have to roll it out obviously to EMEA and the U.S.. I traveled both regions already. I had very good talks with clients and my old friends in the automotive industry, and they sometimes did not even know about our solution suite, and they were impressed. There are many workshops starting now and understanding how we can drive together more profitable growth for them and for us. We are rolling this out in the moment in EMEA, and we are also rolling it out to the U.S., and there's plenty of opportunity. If you think about Australia just have 25 million population, but the U.S. has 300 million, and Europe, if I'm not mistaken, 560 million. There's a huge opportunity for our innovative products and data-driven products. Got it. Just maybe a little bit in terms of pricing increases. I think at the half year result, Jim had commented that while you guys were renegotiating, particularly on the Microcat side of things, going into those renegotiations, now that you've got NextGen platform, you guys are getting pricing increases. If you could give us a sense maybe in terms of how far through your portfolio you are and what sort of scale of pricing increases you've been able to achieve thus far. Yeah. It's obviously a very nice opportunity, especially if you think about the current inflation rates. We are driving this in the moment. We have already looked at our current contracts and what wiggle room we have there. The other thing I would like to mention is that the totally renewed Microcat solution with a very modern UI, UX design, but also then with a much more reliable and quick performance. We are very well on track with renewing contracts and also then pushing for a higher price. Got it. Are you able to give us any sort, I mean, I guess I'm just trying to think in the context of the cost inflation that you guys are seeing at the moment, how should we think about the opportunity for pricing increases percentage-wise? On the cost side, there's obviously, as I laid out with the operational excellence initiatives, some opportunity. On the other side, yes, we are at the moment implementing based also on the high inflation, price upsides as long as our contracts allow. Not every contract is allowing this, but where we have that wiggle room, we are renegotiating with our clients. Okay. Maybe just last one. The Americas business looks like it was once you back out SimplePart, looks like it was flat in the half. You guys have made some good progress in terms of Infodrive, but by default, that kind of suggests that the other business might have gone backwards in the half. Is that a fair assessment? Maybe can you just talk about the progress that's been made in the U.S. over the last 6 months and how you're thinking about that business over the next 12 months, please? Yeah. I start with the latter one. In the moment, we are stabilizing the U.S. business. We had a wrong leadership. We had also not the right go-to-market approach. If on my visit, I just returned back, now, I think 12 days ago, I saw a lot of opportunity of making this better. That goes from a multi-channel approach with some white label DMS partners, but also then a much better and closer workshops with our OEM clients. Because I think with the success that we have in EMEA but also in APAC, we should not shy away to reach out to the American headquartered OEMs. There is some movement in the moment. It was very nice to see in the meeting with Ford about the interest of our data-driven solutions. As you know, acceleration also takes a little bit of time. I'm now a few weeks in. I see these big opportunities, and as soon as I will be back in the U.S., we will drive some acceleration across the leadership team, across our go-to-market approach, but also then across our current structure and organization. There's a lot of room to do better than we did in the last year. Got it. Thank you. I'll jump back in the queue. Thank you. Your next question comes from Elijah Mayr from CLSA. Please go ahead. Good morning, guys, and welcome, Jens. Just a couple from me. Maybe just starting, I guess, operationally, you've mentioned a couple of times around some of the initiatives for margin expansion. Can you maybe give a bit of color on, I guess, timing, magnitude and particular segments you'd expect some of that margin expansion to come through? Yes. Well, we obviously don't provide guidance on the EBITDA and running side. I see just to mention a couple, I see aligned with the team some offshoring opportunities, because maybe developers in the Northern Beaches are on a different payroll than if you look at maybe the Philippines. We also have identified current cloud opportunities in our infrastructure, in our IT infrastructure, there's a lever. There's a lever in the scalability of our products. When you think about the high current level of customization that we can better invest in scalable solutions for all our clients and customers. I think just to name a few on that side, there's a huge lever in there. It needs to be balanced because at the same time we are pushing further our revenue momentum and they have to go both in sync. Yeah. Understood. Maybe just on corporate costs, I think it was around AUD 32.5 million for the H 2. What growth are you kind of expecting in that into FY 2023? I guess you had a run rate now of AUD 65 million. How much growth are you expecting those costs, I guess, for FY 2023? Yeah. I think we should look at this from two angles. There were obviously some one-off costs. You know, we had a change of leadership. We were also hiring some talent that we lost during COVID. One-off hiring costs, one-off double cost of the leadership team. What I think is a good thing is that we are back on traveling, back on visiting our clients, back on establishing and implementing our products in the dealerships. That was not possible during COVID. I'm actually pleased to see that travel cost is going up because it means that we are closer to our clients, and I would like to inspire our teams to continue to do that. On one hand is one-off costs. On the other hand is an increase in client engagement, which will then also you know push revenue. These are both angles that you can look at that. Gareth, would you like to add something on this? Yeah. Thanks, Jens. Thanks, Elijah. I think it's a good point. As Jens says, there were some one-offs around that transition. If you put a number on that's approximately half a million AUD. Talking about recruitment fees for some of the CEO change, some of the senior leadership change. In terms of increased travel that Jens was talking about, that's AUD 800,000 higher in the H 2 is substantial. That's also very, very positive in terms of people getting out and being able to meet clients. Some of the senior team and product team being able to get to things like NADA in the U.S. I think that's money well spent. also like other tech companies, we've had a lot of challenge in terms of people poaching our staff. There's a substantial war for talent. Us as a management team and a board have put in a number of retention programs to make sure we hang on to our staff. I think that's exactly the right thing that we should have done and needed to do, and you'd expect us to do that. In the H 1, there was clearly some gaps in the organization. In the H 2, we've been able to hire some of those and actually hang on to staff. You know, dealing with the circumstances that are in front of us. While there is some one-offs, as I described, as Jens described as well, there's also some spend for the right reasons there. Nevertheless, I think what's When Jens and I first caught up when he arrived, one of the first things we started to talk about was opportunity in that cost base. There certainly is. Some of the stuff that's in that presentation is there for a reason, because we're highlighting some of the opportunities that, Infomedia has in terms of operating effectiveness and efficiency and excellence. Hopefully that gives a bit of color around that point. Yep. No, no, that color helps. I just one final one perhaps for you, Jens, in the time that you've spent here, or at IFM. I mean, you guys are still sitting on around AUD 69 million in cash, with sort of, I guess, expectation of more acquisitions. Are there any particular areas or businesses you are interested based on your prior experience or any differing sort of views, I guess, from the existing sort of board direction that you've sort of got with your initial time in the company? Yeah. I already engaged with two specific targets. Our new vision and our broader vision on a data-driven ecosystem is allowing now to invest in the right areas to further grow our solution ecosystem and building critical mass. I would probably look more towards the growth, the identified growth markets in the U.S. and in Europe. For sure, I don't want to have that money in the bank. I would like that money working in future growing solutions. We demonstrated in the past, I think, Nidasu was a success. SimplePart is a success. Some other business we acquired earlier are very successful and integrated. Owners and founders are staying with us, and that's very exciting for me to build that broader footprint and leverage that money. In the bank it's not leveraged. Excellent. Thanks for the questions. Thank you. Your next question comes from Chris Savage from Bell Potter Securities. Please go ahead. Thanks. Hi, Jens. Hi, Gareth. Forgive me, Jens, if pronunciation of your name is not quite right. Similar first question to the one just asked before around costs, that corporate cost of AUD 32.5 in the H 2, 53% as a percentage of revenue. I appreciate that might go up in an absolute sense, as you say, travel and whatnot, is likely to increase going forward. Do you think as a percentage of revenue, it's more or less now peaked? If that comes off, then is that the area you're looking to get margin expansion from? Definitely there are opportunities and we talked about them. Now it's a question how quick and rigorous we can implement them, and then we will already profit from this in FY 2023. Ongoing, it will be then more sustainable in terms of the full leverage of these initiatives. You know, I also have to say I'm just 90 days in, so this has to be carried out careful and mindful in that regard. It's fantastic to work with the leadership team and talking about our plans in the moment. We are building timelines, we are building responsibility and accountability of how we are leveraging the operational excellence measures. In the moment, I'm very happy to be where I am. Okay. Yeah, please, Gareth. Something to add to that. I think some of those one-off things that, we've had to deal with, like some of the change in CEO and so on we've left that in the underlying results. We haven't sought to normalize that out. It's something that us as a business need to just deal with those sorts of things. I think some of those things aren't gonna repeat, so there's gonna be some help towards us in FY 2023. As Jens said, there's certainly opportunity, plenty for us to have a good go at that. that's not lost on us and that's right at the top of the list. Gareth, did you say in response to the previous question that there was about 0.5 in one-off in that H 2? Yeah. Okay. Slightly different way of perhaps asking the question without being too cheeky. You highlighted the operating leverage you got in 2022, with revenue up 23% and underlying cash EBITDA up 29%. Do you think you'll see that operating leverage again in 2023 and get better growth in cash EBITDA versus revenue? That's what we are aiming for, and let's see what we can deliver in the remaining year of FY 2023. For sure, the full leverage will come already starting in FY 2023. Just I was interested in your comments before Jens on M&A and looking at a couple of targets already. While this I guess potential acquisition of Infomedia process is ongoing, are you still able or willing to look at M&A opportunities while that's going on? well I'm focused 100% on and whatever business we sell in the future, we would clearly want to further grow our footprint. I'm a strong believer in when you run a data and digital business, it's all about critical mass. I think Infomedia has a fantastic track record in the past, and why should we stop that? When there's a new owner possible, then I think they would like to see the same activity level and speeding up of growing our footprint, especially on a global scale. Why should we hold back? Okay. Fair enough. Thank you very much. Thank you. Your next question comes from Oliver Cullen from E&P Financial Group. Please go ahead. Hi, guys. How you doing? Thanks for taking my question. Just around Superservice, can we dig into that a little bit more? I think you said you thought you didn't have the right leadership in North America. It did look like it had that very weak H 2, down about 5% year-on-year. I can see at the kind of subscription revenue line, if I'm correct. I think in the presentation, you highlight some COVID impacts. I'm a little bit surprised considering that that wasn't kind of highlighted at the H 1, where I would have thought Delta and Omicron would have had a bigger impact. Look, the implementation and education into the rollout of Superservice is demanding every visit. We have a lot of backlogs that we have to go through by implementing our current sales lifecycle pipeline into the lifecycle. When you remember the Omicron lockdown, especially in Australia and the U.S. where we sell dealer-to-dealer, there's basically now a lot of work on our plate. We have a record month in June, July and August is very busy. The team that is implementing and visiting and installing at the dealer level was never so busy. Therefore, we are very positive that we will return to a sufficient growth rate. Superservice is a tool and a solution suite, where you have to educate the service managers at the dealerships. If you don't do this, they would not know how to use it. They cannot. Therefore, we obviously have work to do, but I'm also very positive that the training teams are busier than ever to install and train. I think this will return to a good trajectory. Okay. Is it fair to say that there was a kinda lagged impact of Delta and Omicron on that business in the H 2 from disruptions to visiting those guys H 1 and possibly the H 2 of last year? Yes. Absolutely. You know, we also don't wanna hide. We have to, as I talked earlier, further improve our go-to-market approach, and we have some very good plans to do so very soon. For the moment, that team is working overtime and therefore I'm very positive that Superservice will return back to the growth trajectory that we had before. Yes, COVID has especially on a face-to-face and dealer-by-dealer interaction a huge impact. Okay. Sorry, can I confirm on the ARR, the Hyundai contracts, that you know, you made an announcement about a couple months ago. Are they excluded from that June ARR? Oliver, just to sort of hit that point in full. The Hyundai announcement that we made in May, those numbers are still accurate because there's been no other cancellation, so we're still in that same trajectory. As we said in that announcement, there's an AUD 165 thousand impact in FY22, and the projection into 2023 was AUD 900 thousand. When you convert that into ARR at 30 June, some of that had already come out of the system. To give you a number of the Hyundai ARR that was still there at 30 June 2020, that number's AUD 850 thousand. That's a headwind to our ARR as it rolls into 2023. we have obviously considered that in setting our guidance range for next year, but that's the quantum of that. Yeah. Okay. Just on the potential bidders and what they're doing. Can we have confirmation that they were kind of receiving management accounts for the last couple of months? They're not surprised by anything that would come out today? No, they cannot be surprised because they had full access to the data room, and they still have. We are engaging with them intensively over the last couple of weeks and continue to do so. And as soon as we can announce something, we will announce. Obviously for them, what you see today in our results is not a surprise. Yeah. Okay. There's still at least those two that were publicly kinda mentioned? Yes. There are two at the moment and whatever comes our way. Yeah. Okay. Thank you. Thank you. Given that we are running out of time, we will finish with Garry Sherriff from Royal Bank of Canada. Please go ahead. Good afternoon, Jens and Gareth. Just a quick one strategically on EV adoption and implications. You've touched on the structural change with the advent of EVs. There appears to be two key risks to the business. I'm just interested to hear how you'll face them or address them. The first one is less consumable parts in EVs versus the internal combustion engine. How does that impact both your parts and services growth over the longer term? That's the first question. The second one, if cars are smarter and more connected with the manufacturer directly, again, how do you address the risk that the OEMs internalize the parts, services, software that you currently provide? One, I guess, is more on a volume perspective in terms of less consumables and what that might mean. The second one is really to do with potential internalization of some of the software. Yes. Garry, thank you. You know, there's always, risk in every business, but there's lots of opportunity. Precisely on the EV side, as you might know, EVs have a very high torque. So brakes, tires, the weight of that EV sprung on the road, are a huge opportunity for additional service. That's the first. Secondly, if you think about EVs, and compared to, current combustion engine, the combustion engine has a price point of EUR 1.8-EUR 1.9 thousand. A full electric vehicle has comparable cost in terms of battery and engines of about 7-9 thousand EUR. There's huge opportunity in additional value that is in the EVs, first. Secondly, you have to remember that with every fueling of a combustion engine, you don't get any data out of the car. If you connect to a charging point, there's a huge opportunity to leverage and get more data out of the cars, and actually being much more informed of what the drivers and the cars are doing, what their health check is. That is, for us, an opportunity then to reach out to the drivers in the car and actually call them in for the next service. That loyalty opportunity is very much identified by the big OEMs, and we can make it happen. To your second question, connected car that's what I'm very excited about because, in my time at BMW was the first one to have the connected car app, and it's actually a huge opportunity for the whole industry. Imagine the following use case when I turn off the keys of the car in the evening, that's probably where I live. When I drive to work at 6:00 or 6:30 A.M. and turn off the engine there, that's probably where I work. I would know from a connected car, especially with 5G, about the current status of the tires. Maybe we are now getting into springtime in Australia or into autumn time in Detroit or Munich. We would say, "Well, Jens, you're still having your summer tires on." Our sensors say that in a few months, hopefully, the heat wave is over, and the sensors might sense the first night of frost. Then we can reach out in car or via app, and we can say, "Hey, Jens, on your way to work, the next dealership is around the corner. Why don't you pass by around seven o'clock and leave your car there?" The additional opportunity of it is that actually, when I leave my car there for service, for the tires, for the brakes, for whatever reason, and they look again at data at my lease contract, and maybe that lease contract is over in a few months or in a few weeks from now. They would say, "Hey, here's your new wonderful BMW. Don't you wanna use it for a test drive to work? And when you come back, your car is totally serviced and actually done and with the new tires on." There is a huge opportunity. It's not dream world here. What I reveal is what we are already doing successfully with BMW Australia. We know that Australia is obviously not the biggest part of our market. With all the innovations that are coming from Australia, I'm very proud to bring it to the world. Very comprehensive. Thank you, Jens. Thanks so much. Thank you. That wraps up our question and answer session. I'll now hand back to Mr. Monsees for closing remarks. Yeah. I just wanna thank you all on the call. I heard that there are more than 70 people, so there's a lot of interest in our company. I'm excited. All what I saw is obviously very promising in our ARR momentum, but also in the data opportunity that we have to leverage. Last but not least, there's a lot of initiatives on the operational excellence. That's what the leadership here is driving. That is where the board is excited about. Thank you all for your patience and for your trust in us, and looking forward to engage with you face-to-face very soon. Cheers. That does conclude our conference for today. Thank you for participating. You may now disconnect.