HANSEN TECHNOLOGIES LIMITED — Investor Presentation 2024

Aug 20, 2024

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IMPORTANT NOTICE
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This presentation has been prepared by Hansen Technologies Limited (Hansen)

Information contained in this presentation:

Definitions:

• Is intended to be general background information only, and is not intended that it be relied upon as advice to investors or potential investors and is not an offer or invitation for subscription, purchase, or recommendation of securities in Hansen.

• FY19 = financial year ended 30 June 2019

• 1H23 = six months ended 31 December 2022

• 2H23 = six months ended 30 June 2023

• FY23 = financial year ended 30 June 2023

• Should be read in conjunction with Hansen's financial reports and market releases on ASX.

• 1H24 = six months ended 31 December 2023

• 2H24 = six months ended 30 June 2024

• Includes forward-looking statements about Hansen and the environment in which Hansen operates, which are subject to significant uncertainties and contingencies, many of which are outside the control of Hansen – as such undue reliance should not be placed on any forward-looking statements as actual results or performance may differ materially from these statements.

• FY24 = financial year ended 30 June 2024

• FY25 = financial year ended 30 June 2025

• EBITDA* = Earnings before interest, tax, depreciation and amortisation, excluding net foreign exchange gains (losses)

• Underlying EBITDA* = Earnings before interest, tax, depreciation and amortisation, excluding net foreign exchange gains (losses), not including non-recurring items

• Includes statements relating to past performance, which should not be regarded as a reliable guide to future performance.

• Underlying Cash EBITDA* = Underlying EBITDA, less capitalised development Costs

• Includes certain financial information not recognised under IFRS which Hansen considers useful to assist in evaluating Hansen’s performance – however, such information has not been subject to audit or review in accordance with Australian Auditing Standards.

• NPAT = Net profit after tax

• NPATA* = Net profit after tax excluding tax effected amortisation of acquired intangibles and non-recurring items

All dollar values are in Australian dollars (A$) unless otherwise stated.

• EPSa = Earnings per share on NPATA

• EBITDA and NPATA are non-IFRS measures that have not been audited or reviewed by Hansen’s auditors.

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AGENDA

• FY24 Highlights & Leadership

• Market, Product and AI Update

• Results Details

• Sustainability

• powercloud & M&A

• FY25 Guidance

• Q&A

• Financial Statements

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FY24 HIGHLIGHTS

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Operating revenue up 7.3%* from FY23

13.2% Operating revenue growth from FY23 including powercloud. Energy & Utilities revenue up 14.7%, No one customer contributes more than 8% of total FY24 revenue.

11 Tier 1 & 2 wins in twelve months

Major Energy & Utilities wins across Europe, including SSE, Fortum, EPV, Stockholm Exergi, Vattenfall and Varberg Energi. With Cenergy Power, New Mexico Gas and the City of New Bern in the Americas.

Sustainably focused operations

Implemented global Sustainability strategy - a blueprint for sustainable value creation that connects the business strategy to sustainability issues.

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Underlying Cash EBITDA up 11.1%*

Demonstrating ongoing strong cash generation Hansen’s (ex. powercloud) Underlying Cash EBITDA has increased 11.1% to $87.1m since FY23.

~400,000 hours of innovation annually

We capitalise only a small portion of our overall R&D. In addition to these hours, we deliver significant billed innovation activities across many of our products.

powercloud integration progressing

EWE and powercloud extended their contract for another five years. We have established a new leadership team, reviewed capacity, made structural changes and continue to focus on addressing the risks of the turnaround strategy.

• Excluding the acquisition of powercloud

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FY24 FINANCIAL HIGHLIGHTS

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Revenue & Earnings

In the 5 months to June 2024 powercloud has delivered $18.4m in additional revenue

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Financial & Capital Discipline

We are rapidly paying down our debt and are well positioned for the next acquisition

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Delivering for Shareholders

We prioritise the careful return of funds to our shareholders

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$353.1m 19.5¢
+ 13.2% v FY23 $59.1m - 25.0% v FY23 - 29.1% v FY23
Operating Revenue Basic EPSa [3]
Operating Cash Flow
$18.4m powercloud (5.1¢) powercloud
$92.4m
Underlying EBITDA [1] - 7.1% v FY23 ($5.7m) $46.7m FY23 10.0¢ In line with FY23
($7.4m) powercloud Free Cash Flow Dividend Per Share
26% Underlying EBITDA Margin
$76.9m
0.3x 51.5%
Underlying Cash EBITDA [2] - 1.9% v FY23 0.0x FY23
($10.2m) powercloud Leverage Ratio Dividend payout ratio [4]
22% Underlying Cash EBITDA Margin
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Notes:

Amounts shown on a reported basis unless otherwise stated

1. Underlying EBITDA excludes ($6.7m) of non-recurring items. Underlying EBITDA has increased 7.9% (CAGR) since FY19

2. Underlying Cash EBITDA excludes ($15.5m) of Capitalised R&D. Underlying Cash EBITDA has increased 8.1% (CAGR) since FY19

3. Basic EPSa, based on NPATA.

4. Dividend Payout Ratio based on NPATA

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MEET THE EXECUTIVE TEAM -READY FOR THE NEXT PHASE OF GROWTH

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ANDREW HANSEN

GLOBAL CEO AND MANAGING DIRECTOR

Andrew Hansen has served as a Director and CEO since 1993, guiding the company through decades of innovation and growth. Under his leadership, Hansen has successfully navigated the transition from a privately held business to a publicly traded company, culminating in a highly successful IPO in 2000.

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RICHARD ENGLISH CHIEF FINANCIAL OFFICER

Richard is a seasoned finance executive with over 25 years of experience spanning multiple regions, having joined Hansen in 2019 and currently serving as the Chief Financial Officer.

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NIV FERNANDO CHIEF STRATEGY OFFICER

With over 25 years of experience in Strategy, Corporate Development, Finance, and Law, Niv brings a wealth of knowledge and expertise to our leadership team. In his capacity as Chief Strategy Officer, Niv will manage the development and execution of our growth strategy including M&A, with HR and Corporate Marketing also reporting into him.

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JULIA CHAND

GLOBAL GENERAL COUNSEL AND COMPANY SECRETARY

Julia Chand joined Hansen Technologies in 2007 and plays a strategic role as General Counsel as well as Company Secretary. Julia has significant legal experience in IT, financial services and retail organisations.

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DAVID CASTREE PRESIDENT, ENERGY & UTILITIES

Since joining Hansen in 2009, David has focused intensely on the energy and utilities sector. As President of Energy & Utilities, he spearheads efforts to enhance Hansen’s utility customer base, ensuring they remain competitive through advanced solutions.

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SCOTT WEIR

PRESIDENT, COMMUNICATIONS & MEDIA

Joining Hansen in 2007 to spearhead the UK operations,

Scott has since held various executive roles as the company expanded across Europe, the Middle East, and Africa. Today, Scott drives our global Communications & Media vertical, leveraging his deep industry knowledge and strategic vision.

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DARREN MEADE

GLOBAL CHIEF TECHNOLOGY OFFICER

As the Global Chief Technology Officer Darren is dedicated to ensuring uniformity and governance across our verticals, with a focus on technology strategy, innovation, security, tool and process standards, and compliance governance. He also oversees a streamlined IT organisation to further enhance operational efficiency and innovation globally.

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GROWING & GLOBAL GROUP DELIVERING MISSION CRITICAL SOFTWARE TO TIER 1 AND 2 CUSTOMERS

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AMERICAS
A SAMPLE OF OUR CUSTOMERS
AND LOCATIONS WHERE OUR PRODUCTS ARE USED
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EMEA APAC © H A N S E N

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THE ENERGY & UTILITIES SECTOR IS UNDERGOING A PROFOUND SHIFT PRESENTING UNIQUE OPPORTUNITIES FOR DIFFERENTIATION AND ORGANIC GROWTH

Renewable Energy Integration:

As the energy market moves toward renewable sources like solar and wind power, utilities need advanced software solutions to integrate these intermittent sources into the grid. Hansen's expertise in meter data management and billing systems aids utilities in efficiently managing and monetising renewable energy assets.

Smart Grid Technologies:

The energy sector is increasingly adopting smart grid technologies, including smart meters and advanced analytics, with emerging solutions like peer-to-peer trading and community batteries. Hansen's software solutions integrate with these technologies to improve grid efficiency, reduce operational costs, and enhance customer engagement.

Energy Efficiency and Demand Response:

Utilities are prioritising energy efficiency programs, virtual power plants, and demand response initiatives to optimise energy consumption. Hansen's customer care and billing solutions support these efforts by providing real-time data and analytics, helping customers make informed decisions about their energy usage.

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Electric Vehicle (EV) Charging Infrastructure: The rise of electric vehicles offers new revenue opportunities for utilities. Community charging and vehicle-to-grid (V2G) initiatives are becoming popular. Hansen supports utilities in managing EV charging infrastructure, including billing, customer management, and integrating EV charging with renewable energy sources to reduce carbon emissions.

Regulatory Compliance:

The energy market faces complex regulatory requirements, especially for environmental standards and data privacy. Hansen's software solutions help utilities comply with these regulations, minimising risk and ensuring legal operation. Hansen has partnered with ONLINE Information Services to provide an integrated, real-time credit risk assessment and Red Flag compliance tool.

Future of Electrification and Energy Management: The shift towards full electrification and Home Energy Management Systems (HEMS) involves logistical challenges in integrating apps and devices while ensuring accurate monitoring. Hansen's AI-Optimised Power Trading solution automates trading, balance, settlement, and billing operations seamlessly.

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WITH THE CONVERGENCE OF COMMUNICATIONS, TECHNOLOGY, AND MEDIA SECTORS, HANSEN IS CAPITALISING ON OUR CROSS-INDUSTRY EXPERTISE

5G and IoT Expansion:

The rollout of 5G networks and the proliferation of Internet of Things (IoT) devices create opportunities for Hansen to provide billing and customer management solutions for new services, such as IoT connectivity and edge computing.

Digital Transformation:

The push for telcos to adopt a technology-driven approach requires them to be agile and capable of experimenting with new market offerings. At Hansen, we provide CSPs with the tools and capabilities to achieve commercial agility, enabling them to rapidly respond to market changes through data-driven decision-making.

Convergence of Services:

With the convergence of telecommunications, media, and technology sectors, Hansen is capitalising on our cross-industry expertise to offer integrated solutions that meet the evolving needs of converged service providers.

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Data Monetisation:

As communications providers collect vast amounts of data, Hansen's analytics and data management solutions can help them extract valuable insights for targeted marketing, network optimisation, and service innovation.

Regulatory Compliance:

The communications market is subject to strict regulatory requirements, particularly regarding data privacy and security. Hansen's solutions are designed to help providers comply with these regulations, ensuring data protection and legal compliance.

Thought leadership:

The market is seeking best in breed modular solutions and thought leadership in their transition. Hansen has joined forces with Dutch CSP Odido Nederland and Gomibo Platforms for a pioneering project aimed at monetising 6G technology funded by the National Growth Fund of the Netherlands.

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EXTERNAL AI READY 2024

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SHARE AND CONSUME INSIGHTS

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EXPOSE DATA
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• Standard APIs that can be called from Generative AI journeys.

• AI ready data

• Clean consistent data to train external algorithms

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FUTURE STATE
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BUILT -IN
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• Native AI capability built into Hansen applications

• Real-time

• Delivered via APIs & Events

Use Case Candidates:

o Automated Customer Support : Chatbots & Email and Ticketing Automation. o Personalised Communication : Tailored Responses & Proactive Support. o Billing Inquiries & Dispute Resolution : Billing Explanation & Dispute Management. o Self Service Digital Portals : Interactive Guides & Document Generation. o Data Analysis & Reporting : Trend Analysis & Report Generation.

Initiatives & Pitfalls:

• Microsoft GitHub Copilot: Trial & Deployment.

• o Privacy Pitfalls . o AI Poisoning .

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13.2%^ REVENUE GROWTH, 7.3% CORE HANSEN

Operating Revenue ($m) Up 13.2%^ with strong revenue growth across all regions. ~2% Tailwind from FX. 8.2% excluding Data Centre and powercloud

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Underlying NPATa [2] ($m)
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Excluding powercloud 8.3% CAGR increase since FY19. Effective tax rate increased to 31% in FY24 due to powercloud acquisition (24% ex)

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Underlying Cash EBITDA [1] ($m)
Up 11.1% from FY23
(excluding powercloud)
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Underlying EBITDA ($m)

Maintained a very strong underlying EBITDA margin of 30% (excluding powercloud) in an environment of high inflation

Notes:

Amounts shown on a reported basis unless otherwise stated

1. Underlying Cash EBITDA = Underlying EBITDA less capitalised R&D costs

2. Underlying NPATA = net profit after tax excluding tax effected amortisation of acquired intangibles and non-recurring items of ($18.6m)

3. *. Includes Telefónica Germany

4. ^. Includes powercloud. Shown in yellow in the graphs

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REVENUE EXCLUDING POWERCLOUD & DATA CENTRE

ENERGY & UTILITIES REVENUE UP 14.7%, NO ONE CUSTOMER CONTRIBUTESMORE THAN 8% OF TOTAL FY24 REVENUE

Revenue by Type & Region ($m)

Strong services revenue growth in APAC from a major upgrade in Australia. Growth and innovation continues with upgrades across key customers globally.

TYPE	FY23	FY24	Movement
Support 140.8 156.5 11.2% AMERICAS 34.0 37.0 8.8% APAC 28.8 31.7 10.1% EMEA 78.0 87.8 12.6% Application 135.2 138.5 2.4% AMERICAS 23.3 23.1 (0.9%) APAC 20.7 26.6 28.5% EMEA 91.2 88.8 (2.6%) Licences 29.3 36.3 23.9% Other (inc. Data Centre) 6.5 3.4 (47.7%) Total (inc. Data Centre) 311.8 334.7 7.3%

Revenue by Vertical ($m)

Transition in energy driving increased growth expectations. Growing pipeline of active discussions with Tier 1 Communications for FY25.

VERTICAL	FY23	FY24	Movement
Energy & Utilities	159.7	183.2	14.7%
AMERICAS	39.7	45.1	13.6%
APAC	42.0	50.5	20.2%
EMEA	78.0	87.6	12.3%
Communications & Media	147.1	148.9	1.2%
AMERICAS APAC EMEA	31.2 10.3 105.6	28.0 11.6 109.3	(10.3%) 12.6% 3.5%
Total	306.8	332.1	8.2%
Data Centre	5.0	2.6	(48.0%)
Total (inc. Data Centre)	311.8	334.7	7.3%

Support & Application Revenue ($m)

• Recurring contractual revenue recognised evenly over the term plus predictable application fees received for configuration, implementation and customisation

• Up 6.9% vs FY23

• Up 7.7% (CAGR) from FY19

Licence Revenue ($m)

• Impacted by IFRS 15 recognition. Certain contracts require upfront recognition for licences

• Average renewal 3-5 years

• Up 23.9% vs FY23

• Up 14.1% (CAGR) from FY19

Notes:

Amounts shown on a reported basis

Unless otherwise stated amounts shown exclude powercloud and Data Centre which was decommissioned in July 2024 #APAC – (FY23 $5.0m - $4.3m Support and $0.7m Application, FY24 $2.6m - $1.5m Support and $1.1m Application)

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SUFFICIENT CAPITAL FOR FURTHER ACQUISITION OPPORTUNITIES

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Group Cash Flow ($m)
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Reinvesting in our products

• Focused investment in R&D to build growth

• With a large proportion of our innovation now managed through our global network of developers we have maintained a deep investment in our products at a carefully managed capitalised cost of $15.5m

Debt rapidly paid down

• At 1H24 Hansen was net cash positive

• At 30 June 2024 the Group’s total borrowings were $70.2m and our net debt position was only $23.5m

• We have already paid down $12.0m of the initial borrowings to acquire powercloud

Returning funds to share holders

• Operating Cash Flow of $59.1m

• Working capital build-up driven by a large tier 1 customer upgrade, scheduled for completion in December 2024

• We have paid out 51.1% of NPATA by way of Dividends in FY24

• Leverage ratio remains very low at 0.3x

^ Incudes transaction costs relating to acquisition of subsidiary $0.5m and payment for acquisition of business net of cash assumed $38.3m

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INTEGRATED A COMPREHENSIVE GLOBAL ESG STRATEGY INTO THE CORE OF OUR OPERATIONS

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FY24 Highlights

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• Australian Operations certified Carbon Neutral for the 3[rd] year with a 17% GHG reduction since FY21

• Implemented our ESG Strategy and developed our inaugural Climate report

• Formally rolled out a Supplier Code of Conduct which sets out the minimum standards that Hansen requires its suppliers to meet

• Preparation underway for mandatory sustainability reporting - Australian Sustainability Standards and Corporate Sustainability Reporting Directive (Europe)

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AN OPPORTUNITY IS PRESENTING ITSELF IN GERMANY OVER THE NEXT FEWYEARS

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Opportunity for Utilities require market share innovative software increase and support

Upgrades needed to manage smart meter rollout

Highly diverse and Economies of scale regulated market

Competitors :

A few large players dominate the market. With the rollout of smart meters and SAP ending support for their legacy product many Distribution System Operators (DSO) / Stadtwerke are being forced to make an investment decision for their billing systems

Substitute products : As mission critical software it can take many years to migrate across and the investment decision timeline is usually long.

New Entrants:

Energy billing systems, require substantial industry-specific knowledge and compliance with regulatory standards. This creates significant barriers to entry.

DSO / Stadtwerke: Suppliers and Synergies: With over 1,200 retailers and Hansen can leverage existing the push towards Distributed supplier relationships and its Energy Resources, Renewables high quality lower cost and Smart Meters the market operating centres to improve needs new, modern, highly bargaining power and reduce flexible providers. costs.

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OUR PROVENACQUISITIONAND INTEGRATION PLAYBOOK IS UNDERWAY

• We aim to introduce the Hansen ethos into powercloud as soon as possible

• powercloud will benefit from Hansen’s global resource pool and investment

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What have we done? What's next? End State
PHASE 1 - Complete PHASE 2 - Underway PHASE 3
• Established new leadership team • Working through and resolving the immediate • Restore business to profitability
turnaround challenges
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• Win more German customers

• Initial restructuring completed with estimated annualised saving of ~$13m

• Enhance capacity planning and productivity

• Invest behind the core product to retain the compelling market offer

• Reviewed capacity and made structural changes

• Work closely with clients, raise the bar and improve customer satisfaction

• Met with key clients and re-signed EWE, one of the largest clients to a new five-year term

• Leverage Hansen network throughout EMEA

• Engage with Customers to collectively build out the roadmap for the next five years

• Expand into the DACH (Germany, Austria and Switzerland) region

• Assessing the R&D needs for FY25

• Fully integrate the Corporate services into the Hansen Group

• Migrated the Delivery function to the Hansen resource planning process

• Refine the fixed cost base

• Introduced prudent cost containment measures

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M&A FUNDAMENTALS REMAIN THE SAME

• M&A continues to be a key focus of Hansen and we remain vigilant on opportunities in our pipeline

• We constantly evaluate new opportunities and technologies in the utilities and communications industries, as well as potential new industries

• We are also exploring strategic investments that complements our product portfolio and add value for our customers

• Our M&A target pipeline is robust – some identified targets have not transacted

• We are disciplined and continue to apply our proven acquisition criteria and valuation methodologies to deliver value for shareholders

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M&A Acquisition Criteria
Focus on providing mission Clear ownership of IP
critical software
Opportunities for technology Expands geographical
leverage or transfer presence or product offering
Predictable & mature Leverage our commercial &
customer base technical delivery expertise
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FY25 GUIDANCE –MAINTAINING THE STEP CHANGE IN ORGANIC OPERATINGREVENUE GROWTH

Hansen Global Group

Continuing to deliver higher than historic top line growth from the diversified global business. Inflationary pressure on margins is expected to continue across FY25 but Hansen remains confident of maintaining solid cash generation with the 2H25 expected to be stronger than 1H25

5-7%

powercloud

• ‘Hansenisation’ efforts delivering benefits and is expected to be EBITDA positive in Q4 FY25

• Revenue broadly aligned with Annualised FY24

Organic Operating Revenue Growth*^

23-25%

Underlying EBITDA Margin Rapidly transforming powercloud to deliver profitability

• Underlying EBITDA losses anticipated to subside across FY24 and are not expected to be more than ~A$5m for FY25

• Capitalised R&D is not expected to be greater than ~A$5m

19-21% Underlying Cash EBITDA Margin Generating stable and predictable cash while transforming the powercloud business

• Includes the now closed Data Centre which contributed $2.6m in FY24

• ^ Assumes annualised FY24 Operating revenue of $44.2m for powercloud

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Q & A

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2024

FOR THE YEAR ENDED 30 JUNE 2024
	2024	2023
	$'000	$'000
Operating revenue	353,106	311,766
Other income	2,328	3,458
Total revenue from contracts with customers and other income	355,434	315,224
Employee benefit expenses	(209,228)	(166,878)
Amortisation expense	(37,254)	(33,269)
Depreciation expense	(12,218)	(11,031)
Property and operating rental expenses	(3,341)	(3,678)
Contractor and consultant expenses	(5,910)	(5,928)
Software licence expenses	(4,008)	(2,697)
Hardware and software expenses	(29,872)	(21,373)
Travel expenses	(3,322)	(2,257)
Communication expenses	(2,005)	(1,847)
Professional expenses	(6,724)	(5,158)
Finance costs on borrowings Finance costs on lease liabilities Foreign exchange gains / (losses) Otherexpenses	(3,786) (1,019) (912) (5,151)	(4,115) (772) 2,741 (4,637)
Total expenses	(324,750)	(260,899)
Profit before income tax expense	30,684	54,325
Income taxexpense	(9,620)	(11,530)
Netprofit after income tax expense(NPAT)	21,064	42,795
Other comprehensive income/(expense)
Items that may be reclassified subsequently to profit and loss
Exchange differences ontranslationof foreignoperations	(5,552)	(277)
Other comprehensive income/(expense)for theyear,net of tax Total comprehensive income for theyear	(5,552) 15,512	(277) 42,518
Basic earnings (cents) per share attributable to ordinary equity holders of the Company Diluted earnings (cents) per share attributable to ordinary equity holders of the Company	10.4 10.3	21.1 20.8

RECONCILIATION OF UNDERLYING EBITDA AND NPATA

FOR THE YEAR ENDED 30 JUNE 2024

Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA)[1] - Reconciliation

	2024	2023
	$'000	$'000
Profit before income tax expense	30,684	54,325
Add back
Amortisation expense	37,254	33,269
Depreciation expense	12,218	11,031
Finance costs on borrowings	3,786	4,115
Finance costs on lease liabilities	1,019	772
Finance income	(227)	(110)
Foreignexchangelosses / (gains)	912	(2,741)
EBITDA1	85,646	100,661
Add back
Separately discloseditems	6,731	(1,159)
Underlying EBITDA2	92,377	99,502
Less
capitalised development costs	15,461	21,140
Cash EBITDA	76,916	78,362

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

2 Underlying EBITDA, exclude separately disclosed items, which represent the one-off costs during the period. Further details of the separately disclosed items are outlined in Note 3 to the Financial Report which can be found on the Company’s web site.

Underlying net profit after tax before acquired amortisation, net of tax (NPATA[1] ) - Reconciliation

Netprofit after income tax expense(NPAT)	21,064	42,795
Add
Tax effect of separately disclosed items	(1,800)	(149)
Separately discloseditems	6,731	(1,159)
Underlying net profit after income tax expense for the half-year (Underlying NPAT)2	25,995	41,487
Add
Acquired amortisation,net oftax	13,717	14,116
Underlying net profit after income tax before acquired amortisation, net of tax (Underlying NPATA)2	39,712	55,603

• 1 Underlying net profit after tax but before acquired amortisation, net of tax or underlying NPATA exclude separately disclosed items, which represent the one-off costs during the period and acquired amortisation, net of tax.

• 2 Underlying net profit after tax or underlying NPAT exclude separately disclosed items, which represent the one-off costs during the period.

These statements should be read in conjunction with Hansen's financial reports and market releases on ASX.

Includes certain financial information not recognised under IFRS which Hansen considers useful to assist in evaluating Hansen’s performance – however, such information has not been subject to audit or review in accordance with Australian Auditing Standards.

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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2024

	2024	2023
	$'000	$'000
Current assets
Cash and cash equivalents	46,021	54,279
Receivables	62,829	57,152
Accrued revenue	36,508	28,319
Other current assets	7,640	7,303
Total current assets	152,998	147,053
Non-current assets
Plant, equipment & leasehold improvements	15,710	15,051
Intangible assets	373,409	332,820
Right-of-use assets	16,385	13,648
Deferred tax assets	7,013	6,581
Other non-current assets	1,317	1,434
Total non-current assets	413,834	369,534
Total assets	566,832	516,587
Current liabilities
Payables	35,615	25,028
Current tax payable	3,727	509
Lease liabilities	4,889	5,434
Provisions	15,800	14,127
Unearnedrevenue	38,837	32,854
Total current liabilities	98,868	77,952
Non-current liabilities
Deferred tax liabilities	33,308	33,960
Borrowings	70,221	54,309
Lease liabilities	14,240	9,563
Provisions	11,242	409
Unearnedrevenue	1,808	1,514
Total non-current liabilities	130,819	99,755
Total liabilities	229,687	177,707
Net assets	337,145	338,880
Equity
Share capital	150,599	148,688
Foreign currency translation reserve	1,707	7,259
Share-based payment reserve	13,440	12,285
Retained earnings	171,399	170,648
Total equity	337,145	338,880

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2024

	2024	2023
	$'000	$'000
Cash flows from operating activities
Receipts from customers	382,879	331,672
Payments to suppliers and employees	(304,441)	(240,116)
Interest received	227	110
Finance costs on borrowings	(3,501)	(3,964)
Finance costs on lease liabilities	(1,019)	(772)
Transaction costs relating to acquisition of subsidiary	(519)	-
Income tax paid	(14,520)	(8,108)
Net cash from operatingactivities	59,106	78,822
Cash flows from investing activities
Payment for acquisition of business net of cash assumed	(38,303)	-
Payments for plant, equipment and leasehold improvements	(5,060)	(4,757)
Paymentforcapitalised development costs	(15,461)	(21,140)
Net cash used in investingactivities	(58,824)	(25,897)
Cash flows from financing activities
Proceeds from issue of shares	1,911	-
Proceeds from borrowings	55,270	-
Repayment of borrowings	(37,334)	(33,615)
Repayment of lease liabilities	(5,983)	(6,188)
Dividends paid, net of dividend re-investment	(18,403)	(18,402)
Net cash used in financingactivities	(6,655)	(58,407)
Net increase in cash and cash equivalents	(6,373)	(5,482)
Cash and cash equivalents at beginning of the year	54,279	59,631
Effects of exchange rate changes on cash and cash equivalents	(1,885)	130
Cash and cash equivalents at end of theyear	46,021	54,279

These statements should be read in conjunction with Hansen's financial reports and market releases on ASX.

Includes certain financial information not recognised under IFRS which Hansen considers useful to assist in evaluating Hansen’s performance – however, such information has not been subject to audit or review in accordance with Australian Auditing Standards.

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OPERATING RESULTS HANSEN GROUP

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Operating Results - HSN Group ($m) FY24 FY23 Mvmt. ($m) Mvmt. (%)
Hansen - Operating 334.7 311.8 22.9 7.3%
powercloud - Operating 18.4 - 18.4
Operating Revenue 353.1 311.8 41.3 13.2%
Hansen (238.7) (211.1) (27.6) 13.1%
powercloud (28.7) - (28.7)
Operating Expenses (267.4) (211.1) (56.3) 26.7%
Hansen 3.8 (1.2) 5.0
powercloud 2.9
Sep.disc. Items 6.7 (1.2) 7.9
Hansen 99.7 99.5 0.2 0.2%
powercloud (7.4) -
Underlying EBITDA 92.4 99.5 (7.1) (7.1%)
Hansen 30% 32% (2%) (6.7%)
Underlying EBITDA Margin 26% 32% (6%) (18.0%)
Hansen 12.6 21.1 (8.5) (40.3%)
powercloud 2.8 -
Capitalised Development Costs 15.5 21.1 (5.6) (26.5%)
Hansen 87.1 78.4 8.7 11.1%
powercloud (10.2) -
Underlying Cash EBITDA [1] 76.9 78.4 (1.5) (1.9%)
Hansen 26% 25% 1% 3.5%
Underlying Cash EBITDA Margin 22% 25% (3%) (13.4%)
Hansen 50.1 55.6 (5.5) (9.9%)
powercloud (10.4) -
Underlying NPATa [2] 39.7 55.6 (15.9) (28.6%)
Group EPSa [3] (cents) 19.5 27.5 (8.0) (29.1%)
Group DPS (cents) 10.0 10.0 - -
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Notes:

Amounts shown on a reported basis unless otherwise stated

1. Underlying Cash EBITDA = Underlying EBITDA less capitalised R&D costs

2. Underlying NPATA = net profit after tax excluding tax effected amortisation of acquired intangibles and non-recurring items of ($18.6m)

3. Underlying Basic EPSa, based on NPATA

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BOTH VERTICALS ARE WELL DIVERSIFIED ACROSS THE GLOBE

Energy & Utilities

Communications & Media

$183.2m FY24 Operating Revenue*

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Revenue by Billing
Country
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$148.9m FY24 Operating Revenue

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Revenue by Billing
Country
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We are engaging on a rich, dynamic & diverse range of projects, collaborating closely with several leading Energy & Utilities giants. Our focus is helping them bridge into new lines of business, establish marketplace solutions and full turnkey digital services.

Our suite of Energy & Utilities Products are largely supporting Tier 1 and 2 energy company’s and globally. Our strongest presence in North America and Northern Europe including the Nordics.

The Addressable Market for Customer Information Systems (CIS) is expected to grow at a CAGR of ~13% over FY24-29[(1)] .

Our purpose-built software suites empower clients by managing critical data essential for their commercial operations, aligning with our vision to enhance customer interactions.

Our Suite of Communications and Media Products servicing Tier 1 and 2 clients is truly global, and we have our largest presence in Western Europe, the LATAM, Africa and USA.

At the end of 2023 there were 16.1 billion active IoT devices, a figure which is expected to grow to 39.9 billion in 2033[(2)] .

• Excluding powercloud

(1) mordorintelligence.com

(2) transformainsights.com

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THE GERMAN TRANSMISSION SYSTEM IS THE MOST IMPORTANT HUB IN THE EUROPEAN MARKET AND ITS POWER SYSTEM IS INTERCONNECTED WITH 10 COUNTRIES

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Generation TSO DSO Suppliers Leading companies: Leading companies: Leading companies: Leading companies: • RWE • TenneT • RWE • RWE • EnBW • 50Hertz • EnBW • EnBW • E.ON • Amprion • E.ON • E.ON • Vattenfall • Transnet BW • Vattenfall • Vattenfall Market Share: Market Share: Market Share: Market Share: • ~55% installed capacity ~60 • 100% Combined • Big 4 own and operate a • ~50-60% of the market % of electricity significant portion of the distribution system, though the exact level is not clear Number of Providers: Number of Providers: Number of Providers: Number of Providers: • Over 1000 producers (not • 4 • ~ 900 DSOs, about 700 are • Over 1,200 retailers (including including individuals) municipally owned Stadtwerke Stadtwerke)

Germany is the 3rd largest economy in the world and the leading region in Europe The German electricity retail market is characterised by a relatively low level of market concentration and a high degree of competition and diversity among providers.

• Transmission system operators: • In Germany, the high-voltage transmission grid is managed by four main TSOs.

• • They are responsible for the transmission of electricity over long distances and for maintaining system stability across regions.

• Distribution System Operators: • The decentralised and diverse distribution system in Germany is the most complex in Europe, with around 900 DSO serving 20,000 municipalities.

Suppliers

• There are ~900 Stadtwerke, typically owned by local governments, play a unique role in the German energy market. The number can fluctuate as utilities merge, are created, or change operational scope.

• • Stadtwerke serve as DSOs, often act as Suppliers and as producers.

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