MiX Telematics

Hi all,

 

Last week, we announced our financial results for the second quarter of the fiscal year 2017.

 

Herewith a summary of the information shared online and during our earnings call: 

  • Subscribers increased by 8% year over year, bringing the total to 585,000 subscribers at September 30, 2016.
  • Second quarter subscription revenue of R301 million, up 6% year over year.
  • Second quarter operating profit of R26 million, representing a 7% margin.
  • Second quarter Adjusted EBITDA of R66 million, representing an 18% Adjusted EBITDA margin.
  • First half subscription revenue of R608 million, up 9% year over year.
  • First half operating profit of R49 million, representing a 7% margin.
  • First half Adjusted EBITDA of R127 million, representing a 17% Adjusted EBITDA margin.

It’s worth noting that improved activity by our Energy sector customers has contributed to the positive trend in our results, especially in the latter part of the half. We resumed the rollout of two large-scale projects in the US and secured two contracts in the Emergency Services sector in the UK – both of which are for fleets of over 1,000 vehicles each.

 

Our dealer base in Brazil continues to grow, and we recently secured four contracts totaling 780 buses there. In North Africa, we secured an order to provide services for 1,200 vehicles.

 

These results represent the first half of our financial year, and we are optimistic about continued growth, despite challenging regional factors. 

 

Lastly, as we’re close to wrapping up 2016, I’d like to thank all of you for the hard work you have put in this year. MiX owes its continued success to the committed employees who deliver on our values every day. Keep it up!

 

 

Kind regards, 

Charles Tasker

 

 

 

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