Smartpay : Annual Report to shareholders

For personal use only

ANNUAL REPORT 2022

For personal use only

Welcome to Smartpay's annual report for the year ending 31st March 2022

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Smartpay designs, develops and implements innovative payment solutions for customers in New Zealand and Australia. Smartpay offers a variety of advanced payment solutions for retail, business payment and transactional processing requirements.

Smartpay	Annual Report 2022	1

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	Contents
	2	4	10
	Chairman's	Chief	Note from
	Report	Executive's	Chief Business
use	Review	Officer
personal
17	30	32
	Purpose,	Board of	Governance
	Values &	Directors
	Strategic Goal

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Management Team

41

Financial Statements

94	98	104	108
Audit	Statutory	Security Holder	Directory
ForReport	Information	Information

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Chairman's onlyReport

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We remain committed
to deliver shareholder
	"
value by adhering to
our core principles,
our key strategic
priorities and by
staying very focused
personalon achieving the
objectives we have set
for ourselves.
For	"

We can only describe this as another very good year for Smartpay, considering the difficult trading conditions for businesses in Australia and New Zealand. The financial results have seen a substantial increase in both revenue and EBITDA, and we have seen an overall excellent financial performance for the full year. The New Zealand terminal business remains very stable while in Australia our ongoing terminal expansion provides significant medium to long term growth potential.

We remain acutely aware of the challenging environment in which we have operated over the past year and are very cognisant that economic recovery will continue to have its challenges. We remain committed to deliver shareholder value by adhering to our core principles, our key strategic priorities and by staying very focused on achieving the objectives we have set for ourselves.

A genuinely innovative approach has meant

that Smartpay continues to stay at the front of the payments industry, which is a fast-moving and dynamic business sector. Early success has already been achieved in Australia and Smartpay continues to develop product and solutions which we are confident will continue to fuel this growth. Of course, innovation cannot happen unless the right people are engaged throughout the organisation. Our highly motivated team has very deep knowledge of, and experience

in, the payments industry. Quite simply, our people are a huge factor contributing to the reason that the company performs to the level that it does.

Our customer offerings and operation focuses largely on smaller and medium size enterprises. This provides a mitigant to concentration risk which has served us well through the challenges associated to COVID-19 over the last two financial years. Couple this with innovative products and an identifiable, addressable market and the future certainly does look exciting.

Smartpay

Annual Report 2022

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only	"Couple this with innovative products and an
identifiable, addressable market and the future
certainly does look exciting."

At board level and as was recently announced, Australian director William Pulver has announced his resignation from

the board. William joined us some six months prior to the
pandemic hitting Australia and New Zealand and through
usehis commercial skill and acumen, has provided valuable
support and guidance to the board and to management.
We are fortunate to have gained the services of Sydney
based Director Geoff Carrick whose broad commercial
experience and specific expertise in the capital markets will
be invaluable moving forward. We remain very committed
to ongoing succession planning and are looking to further
bolster the boards capability in the near future.
	As always, I acknowledge my fellow board members
for their ongoing support and contribution and I want to
thank the Smartpay management team and staff for their
endeavour, they have been outstanding. My sincere thanks
also to our customers and to our shareholders, for your
commitment and support again this year.
Hopefully, we will continue to reward you all
with continued growth and value in Smartpay
throughout the next year and beyond.
personalFor

Gregor Barclay

Chairman