MiX Telematics grow subscriber base by 31%

Monday, June 10, 2013 - 11:27
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GROWTH: MiX Telematics are a global giant

MiX Telematics enjoyed subscriber base growth of 31% in the last financial year, the South Africa-based company announced today.

The global provider of fleet and mobile asset management solutions increased their base to more than 359,000 in 2012/13, growing subscription revenue by 20% to £43.6million.

Total revenue went up by 15% to £1.1billion, while EBITDA grew 19% to £18.1million and headline earning increased 26% to £8.4million.

Stefan Joselowitz, CEO of MiX Telematics, said:  “Subscriber growth is the cornerstone of our business strategy, so we’re very happy to report this record breaking achievement.

“In addition, the company has a strong focus on cash generation and generated a remarkable R288million [£18.3million] in cash from operations.

“The building blocks are firmly in place to support our continuous efforts to leverage our cash generative business, thereby growing our subscription base and entrenching our position as a global leader.

“A notable step taken in this regard recently was the opening of a MiX Telematics office in Sao Paulo, Brazil, to service the specific requirements of customers in that market.”

MiX Telematics have an operation presence in seven countries – including the United Kingdom – 135 channel partners on six continents and customers in 112 countries.

They are a leading provider of fleet management, driver safety and vehicle tracking solutions, with commercial customers including Chevron and Scania.

Image courtesy of donaldtownsend, with thanks.

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