Gentrack Group Ltd (ASX: GTK) announced this morning that it has won, or is close to winning, several new contracts including two American Airports.
Gentrack is a software provider for airports and utility companies like energy and water. It has contracts in New Zealand, Australia, the UK and other countries. One of its customers is Sydney Airport Holdings Ltd (ASX: SYD).
The company said that it has been awarded a Bliptrack guest predictability contract for the Port Authority of New York and New Jersey.
This entity operates Newark, La Guardia, JFK and Stewart airports. Gentrack has also been given preferred vendor status and is in final negotiations with Orlando International Airport.
Gentrack also said that it has been appointed as the preferred supplier for a “significant and growing” Australian utility, though it did not disclose the name of the potential client.
These new deals aren’t expected to affect the FY18 results, but will contribute to FY19.
Management reaffirmed that it has a long-term target for organic growth of day to day profit, or EBITDA (click here to learn what EBITDA is), of 15% compounded annually (CAGR). CAGR is a rate essentially describing compound interest.
Gentrack also reminded investors that the Evolve acquisition is expected to complete today. Previously, management said it intends to undertake a capital raising following the acquisition to bolster its balance sheet.
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