{"id":43665,"date":"2013-08-05T14:50:35","date_gmt":"2013-08-05T12:50:35","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=43665"},"modified":"2013-08-05T14:53:25","modified_gmt":"2013-08-05T12:53:25","slug":"mix-telematics-subscriber-base-soars","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/43665\/mix-telematics-subscriber-base-soars\/","title":{"rendered":"MiX Telematics subscriber base soars"},"content":{"rendered":"

MiX Telematics<\/a>, a JSE-listed vehicle tracking solutions provider, has seen continued growth in its subscriber base\u00a0over the three months\u00a0ended June 2013.<\/p>\n

Overt the quarter, the company estimates subscription revenue to be between R192\u00a0million – R196\u00a0million ($19.3 million – $19.7 million), representing an estimated increase of 20.5% to 23.0% over the three months\u00a0ended 30 June 2012.<\/p>\n

The estimated increase in subscription revenue was attributable\u00a0to the revenue contribution of a comparatively larger subscriber base, the group said.<\/p>\n

The company started the quarter with a\u00a0subscriber base of 359,643 vehicles under subscription, an increase of 31.8% from the comparative quarter’s\u00a0opening subscriber base.<\/p>\n

The rate of growth in vehicles under subscription exceeded the rate of estimated\u00a0subscription revenue growth due primarily to an increase in sales of the company\u00b4s Beam-e solution, which\u00a0carries a lower subscription price per vehicle, MiX said.<\/p>\n

The company estimates the net increase in vehicles under\u00a0subscription during the quarter was 17,000 – 18,000 subscribers.<\/p>\n

For the three months ended 30 June 2013, the company estimates revenue to be R295 million – R301 million ($29.6 million -$30.2 million), representing an estimated increase of 5.2% to 7.4% over the comparative period.<\/p>\n

The estimated\u00a0growth in net revenues was driven by increased subscription revenue, offset by a decrease in hardware and other\u00a0revenue.<\/p>\n

MiX estimates a decrease in hardware and other revenue of R16million\u00a0 – R18 million ($1.6 million – $1.8 million), representing an estimated decrease of 13.2% to 14.9% compared to 2012.<\/p>\n

The\u00a0majority of the reduction in hardware and other revenue was due to cellular connection and upgrade incentive\u00a0revenue not being received during the three months ended June 2013 as a result of the renegotiation of the company’s cellular data package, MiX said.<\/p>\n

The company estimates gross profit to be R196\u00a0million – R200 million ($19.7\u00a0million -$20.1 million), representing an estimated increase of 16.7% to 19.1% over the comparative period.<\/p>\n

“The\u00a0estimated increase in gross profit was driven by significant growth in the company’s subscription revenue,\u00a0resulting in fixed costs supporting an increased number of subscribers as well as savings in communication costs\u00a0as a result of the renegotiation of the cellular data package,” MiX said.<\/p>\n

For the three months ended June 2013, MiX estimates adjusted earnings before\u00a0interest, taxes, depreciation and amortization\u00a0to be R64 million – R68 million, representing an estimated increase of 5.7% to 12.3% over the comparative period.<\/p>\n

MiX has an operational presence in seven countries, 135 channel partners on six continents and customers in 112 countries. In May, it\u00a0opened up a new office in Sao Paulo, Brazil to\u00a0grow its market share in Brazil and the greater Latin America region.<\/p>\n

More on Mix Telematics<\/strong><\/p>\n

MiX Telematics sees 30% subscriber growth<\/strong><\/a><\/p>\n

MiX Telematics stealing a march on Altech?<\/strong><\/a><\/h3>\n

Mix Telematics hits R1bn sales barrier<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MiX Telematics has seen continued growth in its subscriber base over the three months ended June 2013.<\/p>\n","protected":false},"author":10,"featured_media":12449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[26,2809],"class_list":["post-43665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-headline","tag-mix-telematics"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/43665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=43665"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/43665\/revisions"}],"predecessor-version":[{"id":43688,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/43665\/revisions\/43688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/12449"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=43665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=43665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=43665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}