HANSEN TECHNOLOGIES LIMITED — Interim / Quarterly Report 2020

Feb 27, 2020

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Appendix 4D (pursuant to ASX Listing Rule 4.2A.3)

Half-year Report for the six months ended 31 December 2019

Hansen Technologies Limited

ABN 90 090 996 455

Reporting period	31 December 2019
Previous corresponding period	31 December 2018

Results for announcement to the market

Results for announcement to the market
	Half-year ended 31 Dec(consolidated)
	2019	Movement	2018
	$A’000s	$A’000s (%)	$A’000s
Revenue from ordinary activities	144,331	▲ 31,895 (28%)	112,436
Profit from ordinary activities after tax attributable tomembers	7,609	▼5,340 (41%)	12,949
Statutory net profit after tax attributable to members	7,609	▼5,340 (41%)	12,949
Underlying net profit after tax attributable to members	18,157	▲ 462 (3%)	17,695
(NPATA)(1)
Statutory operating profit before tax	9,089	▼7,928 (47%)	17,017
Add back:
Depreciation and amortisation	20,775	▲ 9,672 (87%)	11,103
Net foreign exchange losses/(gains)	684	▲ 949 (358%)	(265)
Net finance cost	4,912	▲ 4,316 (724%)	596
EBITDA(2)	35,460	▲ 7,009 (25%)	28,451
Less: Impact of adoption of AASB 16(3)	(3,669)	▼(3,669)	-
EBITDA excluding AASB 16 impact	31,791	▲ 3,340 (12%)	28,451
Add back: Restructuring and one-off costs	2,264	▲ 2,264	-
Underlying EBITDA excluding AASB 16 impact	34,055	▲ 5,604 (20%)	28,451

(1) Underlying net profit after tax attributable to members excludes separately disclosed items, acquired amortisation and the impact of adoption of AASB 16 Leases (AASB 16). Further details of the separately disclosed items are outlined in Note 4 to the Financial Report.

(2) EBITDA is a non-IFRS term, defined as earnings before interest, tax, depreciation and amortisation, and excluding net foreign exchange gains (losses).

(3) On 1 July 2019, the Group adopted AASB 16 for the first time. Prior half-year numbers have not been restated. Further details on the adoption of AASB 16 are described in Note 2 of the Financial Report.

Dividends

		Amount per share	Franked amountper share
		(cents)	(cents)
	2019 interim dividend (paid 29 March 2019)	3.0	3.00
	2019 final dividend (paid 26 September 2019)	3.0	2.60
	2020 interim dividend(to bepaid 26 March 2020)	3.0	1.59
2020 interim dividend dates
	Record date for determining entitlements to the dividend		5 March 2020
	Last date for receipt of election notices for participation in the dividend or DRP		6 March 2020
	Payment date		26 March 2020

Dividend Reinvestment Plan (DRP)

A Dividend Reinvestment Plan has been established to provide shareholders with the opportunity to reinvest dividends in new shares rather than receiving cash. Detail of Hansen’s Dividend Reinvestment Plan including the share pricing methodology is available on line at https://hansencx.com/about/investor-relations. The price for shares to be applied for in accordance with the DRP plan for this dividend shall be the full undiscounted value as prescribed by the plan. The conduit foreign income component of this dividend is nil.

Net tangible assets per security

Net tangible assets per security
	Half-year ended 31 Dec (consolidated)
	2019(cents)2018(cents)
Net tangible assets per security	(53.8)5.5

The Group’s asset base has a large portion of intangible assets associated with our software and goodwill from acquisitions. On 1 June 2019, intangible assets of $159.9 million were acquired as part of the acquisition of Sigma Systems, with the acquisition fully funded by a syndicated debt facility.

Other information

There were no entities over which control has been gained or lost during the reporting period.

Additional Appendix 4D disclosure requirements can be found in the notes to the half-year financial report and the Directors’ Report for the half-year ended 31 December 2019. Information should be read in conjunction with Hansen Technologies Limited’s 2019 Annual Report and the attached half-year financial report.

This report is based on the consolidated half-year financial report ended 31 December 2019 which has been reviewed by RSM Australia Partners with the Independent Auditor’s Review Report included in the half-year financial report.