{"id":824186,"date":"2025-05-15T09:27:20","date_gmt":"2025-05-15T07:27:20","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=824186"},"modified":"2025-05-15T09:27:24","modified_gmt":"2025-05-15T07:27:24","slug":"major-south-african-company-pushing-hard-into-europe-and-asia","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/824186\/major-south-african-company-pushing-hard-into-europe-and-asia\/","title":{"rendered":"Major South African company pushing hard into Europe and Asia"},"content":{"rendered":"\n

Cartrack-owner Karooooo plans to push further into Europe and Asia, as the group sees a significant increase in earnings.<\/p>\n\n\n\n

\u201cFY 2025 was a year of strong execution, impactful innovation and significant progress,\u201d said Zak Calisto, Group CEO of Karooooo.<\/p>\n\n\n\n

\u201cWe accelerated customer acquisition, enhanced our platform with more advanced AI Video capabilities and other features, and successfully launched the Cartrack-Tag.”<\/p>\n\n\n\n

Calisto added that the company remains optimistic about continued healthy organic growth in South Africa, while its investments in Europe should accelerate subscriber growth.<\/p>\n\n\n\n

Cartrack subscribers in Europe increased 20% to just over 200,000, with subscription revenue growth of 15%.<\/p>\n\n\n\n

The group plans to accelerate organic growth, expand its customer base and increase subscription sales to existing regional customers.<\/p>\n\n\n\n

The group is partnering with OEMs to provide easy access to its platform, which it believes will seamlessly integrate vehicle data into its platform through application programming interfaces.<\/p>\n\n\n\n

Calisto also noted that Southeast Asia continues to represent Cartrack’s medium-to-long-term growth opportunity, and the group is excited about progress in the region.<\/p>\n\n\n\n

Cartrack subscribers in the Asia Pacific and Middle East region increased 19% to 273,946, with subscription revenue growth of 21%.<\/p>\n\n\n\n

In September 2024, the group started a drive to increase Sales and Marketing in Southeast Asia and believes this will begin to see results in FY 2026. It aims to increase its sales headcount by 70%<\/p>\n\n\n\n

Overall, the Singapore-based, South African-founded, and NASDAQ-listed company saw Cartrack’s subscribers increase 17% to over 2.3 million, with net Cartrack subscriber additions of 330,704.<\/p>\n\n\n\n

Karooooo\u2019s overall subscription revenue increased 15% to R4 billion, with Cartrack accounting for all but R13 million of it. Karooooo Logistics’s DaaS revenue jumped 33% to R420 million.<\/p>\n\n\n\n

Karooooo’s operating profit increased 26% to R1.3 billion, while its earnings per share also increased by 25% to R29.81 per share.<\/p>\n\n\n

\n
\"\"<\/a>
Karooooo’s results for FY25 <\/figcaption><\/figure><\/div>\n\n\n

Problems closer to home<\/strong><\/h2>\n\n\n\n

Despite the group’s overall strong results, Mozambique remains an area of concern.<\/p>\n\n\n\n

Subscription revenue in Africa was tempered by a temporary suspension of subscription billing to its existing customers in Mozambique following political riots and mass demonstrations.<\/p>\n\n\n\n

The country’s operating environment continues to be impacted by ongoing political and economic instability, which has led to uncertainty regarding the country’s near\u2014to medium\u2014term outlook.<\/p>\n\n\n\n

This uncertainty made the operating environment challenging, leading to a goodwill impairment of R43.6 million during the final quarter of the 2024 financial year.<\/p>\n\n\n\n



<\/p>\n","protected":false},"excerpt":{"rendered":"

Cartrack-owner Karooooo is looking to Europe and Asia to drive growth in the medium-to-long term. <\/p>\n","protected":false},"author":95,"featured_media":824188,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[9150,22558],"class_list":["post-824186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cartrack","tag-karooooo"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/824186","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\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=824186"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/824186\/revisions"}],"predecessor-version":[{"id":824208,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/824186\/revisions\/824208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/824188"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=824186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=824186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=824186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}