SLI Systems (SLIZ)

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.

Stock data

Market cap.NZ$31.8m
Last closeNZ$0.51
High / Low (52 weeks)NZ$1.2 / NZ$0.5
Stock market listingNZ
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(36.3)(37)(38.6)
Relative *(35.1)(40.8)(51)

* % Relative to local index

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Y/E Jun Revenue (NZ$m) EBITDA (NZ$m) PBT (NZ$m) EPS (c) P/E (x) P/CF (x)
2015A 28.6 (6.7) (7.0) (11.1) N/A N/A
2016A 35.7 1.1 0.7 1.1 46.4 42.1
2017E N/A N/A N/A N/A N/A N/A
2018E N/A N/A N/A N/A N/A N/A

Last updated on 25/08/2016

Investment summary

SLI Systems has announced a net loss after tax of NZ$0.55m for FY16, compared with a net loss of NZ$7.12m the year before. Revenues for the year increased 25% to NZ$35.7m, but on a constant currency basis declined 3% to NZ$31.2m. Gross margin for FY16 rose to 77.3% from 74.4% previously; the company’s highest ever result. SLI also produced its first positive EBITDA in four years, reporting NZ$1.14m versus an EBITDA loss of NZ$6.68m a year ago. SLI ended FY16 with NZ$6.77m cash on hand after net cash inflow of NZ$1.18m. We are reviewing our forecasts following the results.

Last updated on 01/09/2016

Industry outlook

Mobile search and business analytics are becoming key industry drivers for SLI Systems. e-Retailers are increasingly aware that effective search and merchandising can have a significant impact on revenue and profitability and therefore deserve specialised focus. Mobile search is particularly difficult and it is the appreciation of this fact by retailers that should lead to growth in the independent site search industry.

Last updated on 01/09/2016

Key management

Greg Cross, Chairman
Chris Brennan, CEO
Rod Garrett, CFO

Company address

78-106 Manchester Street
Christchurch 8011
New Zealand
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