You are here
Home > Headlines > MiX Telematics records ninth consecutive quarter of margin growth


MiX Telematics records ninth consecutive quarter of margin growth

MiX Telematics (NYSE: MIXT, JSE:MIX), a global leader of fleet and mobile asset management solutions, today announced financial results for its second quarter and first half of fiscal 2019, which ended on September 30, 2018.

Central to the continued growth trend is the addition of over 22,000 net subscribers during the second quarter, taking the total, global subscriber base to over 714,000.

Subscription revenue grew over 18% year over year and adjusted EBITDA margin reached over 30% in the quarter. This was the ninth consecutive quarter of year over year adjusted EBITDA margin improvement, a key objective for the group.

“MiX reported a very strong quarter, highlighted by our ability to exceed expectations across all key operating metrics.” said Stefan Joselowitz, Chief Executive Officer of MiX Telematics. “We remain well positioned to maintain this momentum for the second half of fiscal 2019 and beyond given the strong and growing pipeline of opportunities worldwide.”

“I’d like to thank our teams that have delivered these great results. There’s no doubt that our customers around the world are benefitting from our broad product portfolio and the great service we provide” concludes Joselowitz.

 

Related Post

Wesbank forecasts sales growth for 2017 16 March 2017: WesBank, South Africa’s leading vehicle and asset finance provider, has forecast that 2017 will see minor growth in the new vehicle sal...
New vehicle sales see four consecutive months of g... 2 OCTOBER 2017: The positive turnaround in South Africa’s new vehicle sales continued in September, according to the latest aggregate sales data from ...
New Vehicle Sales Continue To Show Growth New Vehicle Sales Continue To Show Growth South Africa’s new vehicle market grew by an aggregate of 4.6% in October, year-on-year, according to the l...
More Records Tumble for Ford PRETORIA, South Africa, 4 July 2016 - While the new vehicle market continues to feel the squeeze of the current economic downturn, Ford Motor Company ...
mm
Tristan Wiggill
Seasoned writer, journalist, photographer, and editor.
Top