SLI Systems (SLI)

Business description

SLI Systems' core products are e-commerce site search and navigation tools that learn from customer behaviours to improve the relevance of search results and therefore increase sales conversion.

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Stock data

Market cap.NZ$67.6m
Last closeNZ$1.11
High / Low (52 weeks)NZ$2.8 / NZ$1.1
Stock market listingNZ
Forecast net cash (NZ$m)6.7
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(0.9)(11.9)(32.7)
Relative *(0.5)(16.1)(40.2)

* % Relative to local index

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Y/E Jun Revenue (NZ$m) EBITDA (NZ$m) PBT (NZ$m) EPS (fd) (c) P/E (x) P/CF (x)
2013A 19.0 (1.4) (1.6) (2.9) N/A N/A
2014A 22.4 (5.4) (5.4) (8.6) N/A N/A
2015E 30.1 (4.0) (4.4) (7.3) N/A N/A
2016E 40.0 (1.5) (1.9) (3.1) N/A N/A

Last updated on 15/12/2014

Investment summary

SLI Systems recently launched Learning Search Connect for SAP's Hybris e-commerce platform. The platform has been ranked second in ForresterWave's analysis of B2B ecommerce platforms and claims to have grown at 83% CAGR since 2009 and to have over 500 customers. SLI's 'plug-in' to this platform makes it easier for Hybris users such as Toys 'R' Us, Nestle, Samsung and Ted Baker to adopt SLI's search and navigation technology. Effective sales and marketing are still required to sign up these customers, but the availability of a plug-in reduces one of the key technical barriers to adoption.

Last updated on 22/12/2014

Industry outlook

E-commerce site search is a growth market, thanks to the overall growth in e-commerce and the importance of effective search in converting website visits to sales. SLI Systems' cloud-based product minimises the initial set-up costs for its customers, resulting in a high ROI in a short time frame. Global e-commerce sales are expected to grow by 20.2% in FY14.

Last updated on 22/12/2014

Key management

Greg Cross, Chairman
Rod Garrett, CFO
Dr Shaun Ryan , CEO and Founder

Company address

78-106 Manchester Street
Christchurch 8011
New Zealand
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