Strong Subscription Revenue Growth
Cartrack subscription revenue increased 20% to ZAR 1,180 million, with notable growth in South Africa (18%) and Europe (27%).
Impressive ARR and Customer Retention
Annual Recurring Revenue (ARR) increased 20% to ZAR 4,806 million, with a commercial customer retention rate of 95%.
Karooooo Logistics Growth
Karooooo Logistics Delivery-as-a-Service revenue increased 38% to ZAR 139 million, driven by growth in e-commerce orders.
Healthy Operating Profit and Cash Flow
Operating profit increased 18% to ZAR 356 million, and adjusted free cash flow increased 44% to ZAR 358 million.
Global Expansion and Market Penetration
Subscriber growth in Southeast Asia and the Middle East increased 26%, and European subscription revenue grew by 27%.