Diluted HEPS increased by 30.8% y-y to R14.01 (1H24: R10.71).
Revenue increased by 7.4% y-y to R2 189m, driven by strong subscription revenue growth in South Africa (+15% y-y).
Strong revenue growth from Cartrack (+14.4% y-y) and Karooooo Logistics (Picup) (+50.8% y-y).
Total subscribers grew by 16.6% y-y to 2 136 610, with double-digit growth in all regions.
GPM increased from 63.2% to 69.7%.
OPM rose from 23.1% to 27.5%.
Expenses increased by 13.0% y-y, expense to sales increased by 210bps to 42.5%.
No dividend.
Cash from operating activities improved by 91.0% y-y to R1.23bn.
Gross debt increased from R54m to R291m. A R250m loan was granted to the owner of KRO’s South African office (under construction) and the funds were used to settle an inter company loan from Cartrack. The loan will mature on 21 December 2025.
