Mix Telematics (MIX) FY23 – Results Snapshot

Diluted HEPS decreased by 41.7% y-y to 14cps.
Revenue growth +15.7% y-y, aided by strong net subscriber growth of 22.9% y-y.
GPM decreased by 110bps to 62.0%.
OPM declined from 10.7% to 8.8%.
Expenses increased by 17.9% y-y, with expense to sales rising by 100bps to 53.6%.
Dividend of 16cps (LY: 16 cps).
Net cash declined by 35.5% y-y to R263m.
The FSM business acquired contributed c. R94m to the Americas subscription revenue and increased the segment’s subscriber base by 88%.