Strong growth has been achieved in fleet management services with sales of fleet management products accounting for 64% of total global sales (2014: 52%). Fleet management now accounts for more than 50% of their subscriber composition due to the huge demand by owners of vehicles to optimise the costs, safety and security of their assets and workforce.
Globally the demand for fleet and workforce optimisation is strong and growing rapidly. During the year the company opened new offices in Indonesia, Malaysia, Hong Kong, Thailand, United Arab Emirates and the Philippines, in addition to driving sales in existing geographies. Calisto said there were many highlights this year: “Apart from our successful listing in December 2014, our Singapore office being awarded the prisoner tracking tender was particularly pleasing, given the high reputation standards of the Singaporean government. We see this being a great reference and giving significant credibility to our presence in the region. Additionally, this award reflects the flexibility and scalability of the company’s technology platform and the innovative capabilities of its in-house agile engineers. In South Africa, the high stolen vehicle recovery rate was maintained at 93%, with a record number of vehicles recovered, valued at over R450 million.” On the technology front, Cartrack released an upgraded and miniaturised Fleet Management unit with ancillary Stolen Vehicle Recovery features. Several additional features were added for existing fleet management clients through the release of software updates. The product range was supplemented further through an in-vehicle camera system, thereby complementing the existing telematics services and enhancing driver behaviour and safety monitoring capabilities. A miniature wireless and self-powered tracking device was released for multiple applications, including vehicle recovery and other forms of asset tracking and monitoring. “Looking ahead, we anticipate subscriber and revenue growth to be consistent with that achieved in the past few years, with further boosts from our global expansion over time. Robust profit growth and commensurate dividend growth is expected for 2016, supported by the new technological and service offerings we expect to bring to market in 2016,” Calisto concludes. Revenue growth and international expansion featured strongly in 2015- Revenue growth of 32%, with annuity revenue representing 84% of total revenue
- Revenue from non-South African operations increased from 17% to 26% in 2015
- Subscriber growth of 24% to over 430 000
- Profit before tax growth of 17% to R302.5 million
- Headline earnings growth of 14% to R195.2 million
- A final dividend declared in respect of FY15 of R90 million: 30 cents per share
- Strong cash flow generation with net cash from operating activities of R266 million, up 24%