Ituran Location And Control ( (ITRN) ) has released its Q4 earnings. Here is a breakdown of the information Ituran Location And Control presented to its investors.
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Ituran Location and Control Ltd., a leader in mobility technology, offers location-based services and telematics solutions for vehicles and personal security, with a strong presence in Latin America and Israel. The company reported robust financial results for 2024, with a significant increase in subscribers and revenue. Ituran’s revenue reached $336.3 million, a 5% increase from the previous year, while net income rose by 11% to $53.7 million. The company also declared $34 million in dividends for the year. In the fourth quarter alone, Ituran added 40,000 net subscribers, achieving a revenue of $82.9 million, up 7% year-over-year, and a net income of $13.8 million, marking a 15% increase. The company has increased its dividend policy by 25% to $10 million per quarter, reflecting its strong financial position. Looking ahead, Ituran anticipates further growth in 2025, with expectations to significantly increase net subscriber additions to between 180,000 and 200,000, driven by investments in new products and services.