Strong growth for MiX Telematics

Stefan Joselowitz, CEO, says the premium fleet portfolio was the dominant contributor.

MiX Telematics, a leading global provider of fleet and mobile asset management solutions, has announced their results for the full fiscal year ending March 2018. The company recorded total revenue of R1.7 billion. During the year, the company made significant progress towards achieving its long-term adjusted EBITDA margin target of 30 percent plus.

Stefan Joselowitz, CEO and founder of MiX Telematics, said:

“This performance was due to ongoing strength across the portfolio globally, although our premium fleet portfolio was the dominant contributor. We are well positioned to maintain our momentum in fiscal 2019 and beyond, as MiX continues to leverage its global reputation and proven track record.”

He adds that the company is particularly proud to have been recognised as the best-performing tech stock on the JSE in 2017. With annual revenues of over R1.7 billion, MiX Telematics is currently the largest of the publicly traded telematics businesses that originated in South Africa.

Joselowitz continued:

“Thanks to a strong international footprint, broad product portfolio and committed team, we have once again delivered a strong set of numbers. We remain one of the few, truly global telematics companies and have further entrenched our leadership position. We continue to win large multinational customers, deliver innovative, premium solutions and great service to drive adoption across multiple industries, verticals and geographies.”