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gentrack 27 May 2021 Gentrack Group 17 Hargreaves Street , St Marys Bay Auckland 1011 , PO Box 3288 , Auckland 1140 , New Zealand Ph : +64 9 966 6090 Email : info@gentrack.com www.gentrack.com Market Announcement Gentrack Group Limited ( NZX / ASX : GTK ) , a leading provider of software solutions for utilities and airports , today released its results for the half - year to 31 March 2021 . Results Summary Revenue : $ 51.0m - up 0.7 % on H1'20 EBITDA : $ 7.0m - up 63.2 % on H1'20 Statutory NPAT : ( $ 1.1m ) loss Net cash : $ 22.4m up 33.5 % on FY20 No Interim Dividend payable The results for the half - year show an increase in revenue of 0.7 % to $ 51.0m . Utilities revenue increased 6 % during the period ( vs prior comparative period ) driven by new customers and increases from existing customers . Revenues were down in the Airports business by $ 2.1m due to the industry downturn but pleasingly annual recurring revenues ( ARR ) were up 5.8 % reflecting the critical role of our product in our customers ' operations . Underlying EBITDA of $ 7.0m is up 63.2 % on H1'20 . Costs were down 5 % vs H1'20 due to various cost saving measures , while at the same time increasing our investment in human capital . The Group achieved $ 5.6m net cash generation for the period resulting in $ 22.4m net cash as at 31 March 2021 , up from $ 16.8m at 30 September 2020. There have been further improvements in working capital and cash savings from increased use of share - based incentives . The year - end cash position provides scope for additional investment in technology . In light of the NPAT loss , the Board has decided not to pay an Interim dividend and will review the position at the year end . This period has seen the business undergo a transformation with the new leadership team performing strongly and the business servicing our customers better . Revenue is up from increasing customer demand for Total Cost of Ownership ( TCO ) improvements , regulatory compliance and cleantech innovations . New logo pipeline is growing , and we have new wins in the period . On the operational front , our global delivery organisation is improving throughput materially , managing several large - scale customer transformation projects effectively and are dedicated to delivering customer excellence . We have opened our new Indian Technology Centre where we have nearly 50 Dev - ops experts coming up to speed on our technologies . We see room for continued improvement in the operational effectiveness of the company . Our commitment remains to have the best technology in this space and the increased headcount in the business reflects our investment in bringing the right people on board to deliver against this commitment . We continue to have headwinds from prior year customer attrition and supplier failures in the UK . We have however , moved the business back to growth despite this revenue drag . Gentrack Group Ltd | ARBN 169 195 751