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Ann: Operations Update - TSI India-TSN.AX, page-9

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    OK, so what are the key stand outs for me:

    “Innovation allows expansion potential in e-payment, e-surveillance, power management business”.
    This is great to hear as the second point as it significantly diversifies TSI’s business from being seen as just an ATM operator to a true solutions provider.  This is also highlighted in the 4th paragraph of the OU which says “the increased network forms the base for an intended assertive approach to further increase revenues through the utilisation of TSI India’s managed services network in offering a suite of value added services already in the sales pipeline”.  I especially love the end of that sentence: “already in the sales pipeline”.  Looks like we should get ready for a steady flow of announcements of new contract wins over the next few months.

    “ATM managed Services platform capacity is 50,000 ATMS (currently 13,000 under management)”.
    It then goes on to say that “TSI India has advised that the transaction for the additional ATMs is expected to be EBITDA accretive from year 1 and the enhanced scale is expected to support material improvement in operating efficiencies and profitability across the complete portfolio of TSI India”.  This is a great result … we acquired 11,000 machines and they are EBITDA positive from day 1 … a fantastic deal without even considering the flow on benefits of the data centres etc.

    I also liked the end of Gary’s quote, “the new deal substantially increases our reach and positions us as one of the largest ATM outsourcing operators in India”.   We are in the big league now and in what will soon be one of the world’s largest markets for such services.  As it says in the OU, “US$2.5 – 3.5 billion potential market in ATM services in India – Indian Market Report 2015”.  This is just ATM Services - as I highlighted above, we have a lot more to offer.

    That takes me to the top of page 2 of 10 … phew, so much good stuff here!  I just need a break for a minute to take it all in!
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