{"id":59709,"date":"2014-06-05T10:13:45","date_gmt":"2014-06-05T08:13:45","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=59709"},"modified":"2014-06-05T11:23:13","modified_gmt":"2014-06-05T09:23:13","slug":"mix-reports-25-subscriber-growth","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/software\/59709\/mix-reports-25-subscriber-growth\/","title":{"rendered":"MiX reports 25% subscriber growth"},"content":{"rendered":"

MiX Telematics <\/a>has announced a 25.3% increase in vehicles under subscription in the full fiscal year 2014, taking its total beyond 450,000 subscribers at March 31, 2014.<\/p>\n

The JSE and NYSE-listed vehicle tracking solutions provider said that for the three months ended March 2014, total revenue grew 12.9% to R348.4 million, from the fourth quarter of fiscal year 2013.<\/p>\n

Subscription revenue was 24.9% up from the prior quarter, to R232.6 million.<\/p>\n

MiX said that growth in subscription revenue was driven primarily by an increase of over 90,800 vehicles under subscription.<\/p>\n

The group said that in the fourth quarter of fiscal 2014, subscription revenue contributed 66.8% of total revenue compared to 60.4% in the fourth quarter of fiscal 2013.<\/p>\n

“We are pleased to report strong fourth quarter and year end results, which were highlighted by 25% year over year growth in subscribers and better than expected subscription revenue,”\u00a0said MiX Telematics CEO, Stefan Joselowitz.<\/p>\n

“We continued to see a shift to fully-bundled deals as enterprise customers increasingly opt for the pure subscription structure rather than pay for the hardware up front.”<\/p>\n

Total revenue for the full fiscal year 2014 was R1.3 billion, an increase of 8.6%
\ncompared to R1.17 billion in 2013.<\/p>\n

Operating profit declined to R171.5 million, from R185.9 million, but total profit improved to R151.6 million, from R128.5 million.<\/p>\n

Subscription revenue increased to R853.7 million, up 24.3% from R686.7 million before.<\/p>\n

Hardware and other revenue however, declined to R417.9 million, compared to R484.8 million for fiscal year 2013.<\/p>\n

“The decrease in hardware and other revenue is primarily attributable to a combination of factors which include a significant increase in the number of fully-bundled subscriptions in fiscal 2014 compared to fiscal 2013 as well as the ongoing decline in hardware prices,” MiX said.<\/p>\n

Looking ahead, MiX said that it expects revenue to grow between 8.9% and 10.9% to R1.4 billion and R1.4 billion in 2015<\/p>\n

It forecast subscription revenue\u00a0 to grow to R1 billion, which would represent subscription revenue growth of approximately 20% compared to fiscal year 2014.<\/p>\n

More on MiX<\/h3>\n

MiX Telematics eyes 500,000 susbcribers<\/strong><\/a><\/p>\n

MiX subscribers up 28%<\/strong><\/a><\/p>\n

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

MiX Telematics riding a growth wave<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MiX Telematics has announced a 25.3% increase in vehicles under subscription in the full fiscal year 2014, taking its total beyond 450,000 subscribers at March 31, 2014.<\/p>\n","protected":false},"author":10,"featured_media":52781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[25,2809],"class_list":["post-59709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-software","tag-active","tag-mix-telematics"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/59709","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=59709"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/59709\/revisions"}],"predecessor-version":[{"id":59723,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/59709\/revisions\/59723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/52781"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=59709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=59709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=59709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}