MiX Telematics records ninth consecutive quarter of margin growth
Global telematics leader continues to exceed expectations across all key operating metrics.
MiX Telematics (NYSE: MIXT, JSE:MIX), a global leader of fleet and mobile asset management solutions, today announced financial results for its second quarter and first half of fiscal 2019, which ended on 30 September 2018.
Central to the continued growth trend is the addition of over 22 000 net subscribers during the second quarter, taking the total global subscriber base to over 714 000.
Subscription revenue grew over 18% year over year, and adjusted EBITDA margin reached over 30% in the quarter. This was the ninth consecutive quarter of year-over-year adjusted EBITDA margin improvement, a key objective for the group.
"MiX reported a very strong quarter, highlighted by our ability to exceed expectations across all key operating metrics," said Stefan Joselowitz, Chief Executive Officer of MiX Telematics. "We remain well positioned to maintain this momentum for the second half of fiscal 2019 and beyond given the strong and growing pipeline of opportunities worldwide.
"I'd like to thank our teams that have delivered these great results. There's no doubt that our customers around the world are benefiting from our broad product portfolio and the great service we provide," concludes Joselowitz.
Founded in 1995, MiX Telematics is a global provider of driver safety, vehicle tracking and fleet management products and services to consumers and companies of all sizes in 111 countries across six continents. The company's commercial product range helps fleet owners ensure driver and passenger safety, reduce fleet running and fuel costs, comply with industry regulations, and track and protect vehicles and drivers. Commercial customers include Parmalat, Schlumberger, Chevron, Greyhound, Spar, De Lijn, Vectalia-Subus and Scania. MiX Telematics has offices in South Africa, Uganda, the United Kingdom, North America, Australia and the United Arab Emirates, and works via an extensive global distribution network.
For more information, please visit www.mixtelematics.com.
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