DURBAN – MiX Telematics, a global provider of fleet and mobile asset management solutions, reported double-digit growth in earnings for the quarter to end September, boosted by an increase in subscriber numbers in the quarter.
MiX Telematics added more than 22 600 subscribers during the quarter, taking the total base to more than 789 000 subscribers.
Its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) rose by 12 percent to R172 million, with an adjusted Ebitda margin of 31.9 percent, up by 110 basis points during the quarter.
Subscription revenue increased by 12.2 percent to R471.2m, and up by 10.7 percent on a constant currency basis, benefiting from a net increase of more than 75 500 subscribers from October 2018 to September 2019.
The group said yesterday that this represented a subscriber base increase of 10.6 percent during the period.