audited annual financial results 2016 - cartrack ppt_presentation v5 _only.pdfcartrack audited...

CartraCk Condensed annual financial results 2016 c

FLEEt MaNaGEMENt StOLEN VEHICLE rECOVErY INSUraNCE tELEMatICS

Audited AnnuAl FinAnCiAl ReSultS

2016

Aud

ited

An

nu

Al

Fin

AnCi

Al R

eSu

ltS

20

16

CartraCk Audited annual financial results 2016 1

NO

tES

FY16

RES

ULT

S PR

ESEN

TATI

ON

NO

tES

2 CartraCk Audited annual financial results 2016

NO

tES

TABL

E O

F C

ON

TEN

TS

O

verv

iew

Fi

nanc

ial r

evie

w

St

rate

gic

revi

ew

O

utlo

ok

A

nnex

ures

2


NO

tES

HIGHLIGHTS

> R

1 bi

llion

in

reve

nue

A to

p gl

obal

te

lem

atic

s co

mpa

ny

> 50

0 00

0 su

bscr

iber

s

Ann

uity

bas

ed

busi

ness

Con

sist

ent

grow

th in

pr

ofita

bilit

y

3

Hig

hest

cas

h ge

nera

tor i

n its

cl

ass


NO

tES

CA

RTRA

CK’

S VA

LUE

PRO

POSI

TION

TO

CUS

TOM

ERS

Incr

ease

fleet

prod

uctiv

ityIn

crea

se w

orkf

orce

effic

ienc

yRe

duce

oper

atio

nal

cost

s

Incr

ease

cust

omer

serv

ice

Incr

ease

safe

tyan

dse

curit

yIn

crea

sere

venu

e

EVEN MORE BENEFICIAL IN CHALLENGING TIMES

4


NO

tES

cO

UR C

USTO

MER

S’ C

HALL

ENG

ES

High

Fue

l Cos

tsW

aste

ful

Vehi

cle

Idlin

gTim

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lsific

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nEx

cess

ive

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rtim

eEx

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ive

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nten

ance

Cos

ts

Exce

ssiv

e M

ileag

ePo

or D

river

Be

havi

our

Unpr

oduc

tive

Driv

ers

Unau

thor

ised

Vehi

cle

Use

Vehi

cle

Thef

t

5


NO

tES

CA

RTRA

CK

CO

RE S

OLU

TION

S PE

R PR

ODU

CT

c

6


NO

tES

Tota

l Exp

ecte

d Sa

ving

=

cC

ART

RAC

K –

SOUT

H A

FRIC

A R

OI C

USTO

MER

CA

LCUL

ATO

RFL

EET M

AN

AG

EMEN

T

600.

67

452.

6739

1.67

1056

.87

1024

.67%

Tota

l Cos

t =

191.

41

575.

42

Expe

cted

m

inim

umRO

I/m

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1,75

9.76

R280

R57

5

R19

1

R39

1

R1

056

R45

2

R60

0

R3

265

1066

%

7


NO

tES

KEY

SEC

URITY

SER

VIC

ES A

ND

FEA

TURE

S

Life

time

War

rant

y

8


NO

tES

Geo

-fenc

e Re

ports

Fuel

Effi

cien

cy

Repo

rtTr

ip R

epor

tsFu

el C

ard

Man

agem

ent

Driv

er S

core

card

cKE

Y C

ART

RAC

K FL

EET M

AN

AG

EMEN

T REP

ORT

S

Spee

din

g Re

port

Idlin

g Re

port

Toll r

oad

M

anag

emen

tO

per

atin

g Ho

urs

9


NO

tES

STRO

NG

MO

MEN

TUM

IN S

UBSC

RIBE

R G

ROW

TH

209

680

246

366

144

224

378

778

430

386

502

849

0

100

000

200

000

300

000

400

000

500

000

600

000

2011

2012

2013

2014

2015

2016

TOTA

L ACT

IVE

UNIT

S

10


NO

tES

PLA

TFO

RM F

OR

GRO

WTH

c

ASI

A&

ME

Reve

nue

+134

%Su

bscr

iber

s+1

51%

Ope

ratin

g lo

ss +

70%

SOUT

H A

FRIC

ARe

venu

e+1

9%Su

bscr

iber

s+1

6%O

pera

ting

prof

it +1

6%

EURO

PERe

venu

e+1

2%Su

bscr

iber

s+2

3%O

pera

ting

prof

it +5

3%

EURO

PE•

Slow

eco

nom

ic re

cove

ry•

Tele

met

ry c

omm

unic

atio

n co

sts

signi

fican

tly re

duc

ed•

Incr

ease

d e

ffici

enci

es h

ave

led

to

red

uced

ove

rhea

d e

xpen

ses

AFR

ICA

–O

THER

•C

omm

odity

cyc

le a

nd fo

rex

issue

s pro

vid

e sh

ort t

erm

ch

alle

nges

•Su

bsta

ntia

l gro

wth

opp

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nitie

s re

mai

n in

the

long

er te

rm•

Sign

ifica

nt c

hurn

in su

bscr

iber

s co

ntra

cted

to s

ervi

ces i

n lo

wer

en

d o

f the

pric

e sp

ectru

m•

We

belie

ve th

e m

arke

t rem

ains

un

pene

trate

d

SOUT

H A

FRIC

A•

Sign

ifica

nt in

vest

men

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dist

ribut

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g d

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belie

ve th

at g

row

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this

mar

ket r

emai

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rong

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A A

ND

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DLE

EAST

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e co

ntin

ue to

inve

st in

the

bran

d a

nd d

istrib

utio

n•

Star

ting

to s

ee so

me

tract

ion

AFR

ICA

Reve

nue

+22%

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crib

ers

+10%

Ope

ratin

g pr

ofit

+29%

11


NO

tES

+6

+16

%

A D

IVER

SIFI

ED S

UBSC

RIBE

R G

ROW

TH

12.1

K

8.5K

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Stol

en

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cle

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very

SA

Subs

crib

er

Base

+27%

Flee

t M

anag

emen

t

Subs

crib

er

Base

+17%

Inte

rnat

iona

l Su

bscr

iber

Ba

se

+21%

12


NO

tES

D

iver

sifie

d ba

se –

pres

ent i

n 21

cou

ntrie

s, fle

et m

anag

emen

t as w

ell a

s SV

R pr

oduc

t of

ferin

gs

Secu

re a

nnui

ty-b

ased

mod

el –

84%

of r

even

ue

Long

evity

and

pre

dic

tabi

lity

-ave

rage

cus

tom

er li

fecy

cle

appr

oxim

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y 62

mon

ths

Sc

ale

–fe

w c

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nies

glo

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e a

subs

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er b

ase

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ntra

cts

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ghes

t mar

gins

in it

s cla

ss

A H

IGHL

Y SU

STA

INA

BLE

AN

D PR

EDIC

TABL

E M

ODE

L

-

200

400

600

800

1 0

00

1 2

00

2012

2013

2014

2015

2016

R million

Reve

nue

grow

th

Annu

ity R

even

ueRe

venu

e

13

74%

84%

84%

47%

43%

46%

0%10%

20%

30%

40%

50%

60%

70%

80%

90%

2014

2015

2016

Cons

isten

t rat

ios

Annu

ity re

venu

e %

EBIT

DA %


NO

tES

Fina

ncia

l Rev

iew


NO

tES

STRO

NG

YEA

R-O

N-Y

EAR

GRO

WTH

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even

ue

+28%

EB

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A

+23%

Pro

fit b

efor

e ta

x

Pro

fit a

fter t

ax

+25%

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ratin

g P

rofit

+19%

15


NO

tES

254

290

345

254

294

362

296

362

463

633

835

1 005

-

200

400

600

800

1 0

00

1 2

00

2014

2015

2016

R million

Ope

ratin

g Pr

ofit

Prof

it be

fore

tax

EBITD

ARe

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e

STRO

NG

PRO

FITA

BILI

TY

16


NO

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FORE

IGN

EXC

HAN

GE

IMPA

CTS

ON

FIN

AN

CIA

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SULT

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,the

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ffect

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sov

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befo

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edR1

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em

ain

cont

ribut

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fact

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re: R

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ign

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cost

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th

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idat

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NO

tES

Fi

nal d

ivid

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of 3

5 ce

nts p

er sh

are

To

tal d

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for F

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over

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1.25

to 1

.55

times

HEPS

EARN

ING

S A

ND

DIVI

DEN

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+20%

+27%

HEPS

DPS

46

55

64

81

- 10

20

30

40

50

60

70

80

90

2015

2016

Cents per share

Earn

ings

and

div

iden

ds

DPS

HEP

S

1818


NO

tES

STRO

NG

BA

LAN

CE

SHEE

T PO

SITIO

NED

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No

gear

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Cle

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ook

–d

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rs d

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33d

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Ad

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te st

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leve

ls of

6 to

9 m

onth

s tra

din

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Cur

rent

ratio

1,4

Qui

ck ra

tio0,

9

19


NO

tES

A

nnui

ty b

usin

ess w

ith st

rong

reve

nue

visib

ility

into

FY1

7

W

e ha

ve, s

ince

ince

ptio

n, fi

nanc

ed

our o

wn

grow

th in

bot

h ex

istin

g an

d

new

mar

kets

St

rong

trac

k re

cord

of r

etur

ning

exc

ess

cash

to th

e sh

areh

old

ers

C

artra

ckse

nior

man

agem

ent

invo

lved

in a

ll exp

ansio

ns to

min

imise

ris

k

- 50

100

150

200

250

300

350

400

2012

2013

2014

2015

2016

R million

Cas

h co

nver

sion

Op

erat

ing

pro

fitN

et c

ash

from

op

era

ting

act

iviti

es

A H

IGH

CA

SH G

ENER

ATO

R

20


NO

tES

Shar

ehol

der V

alue

Stra

tegi

c Re

view


NO

tES

TELE

MAT

ICS

DEM

AN

D

DR

IVER

S

CO

MM

ERC

IAL

CRI

ME

INSU

RAN

CE

TELE

MA

TICS

REG

ULA

TORY

RE

QUI

REM

ENTS

ORI

GIN

AL

EQUI

PMEN

T M

AN

UFA

CTU

RERS

(O

EM)

CO

NSU

MER

22


NO

tES

Con

siste

nt w

ith p

rior y

ears

:

In

crea

sing

dem

and

for b

ig d

ata

usin

g So

ftwar

e-as

-a-S

ervi

ce (S

aaS)

to

optim

ise b

oth

fleet

s an

d w

orkf

orce

Be

rg In

sight

stat

es th

e gl

obal

mar

ket s

ize is

94

mill

ion

vehi

cles

with

on

ly a

14%

pen

etra

tion

as a

t end

of 2

015

G

loba

l com

mer

cial

tele

mat

ics m

arke

t is e

xpec

ted

to re

ach

$41

billio

n by

202

0 -c

ompo

unde

d gr

owth

rate

of 1

6% p

.a.f

or th

e ne

xt fi

ve y

ears

Incr

ease

in d

eman

d fo

r saf

ety

and

secu

rity

by g

over

nmen

ts, b

usin

ess

and

ind

ivid

uals

due

to th

e in

crea

se in

crim

e ra

tes,

the

need

to

impr

ove

road

safe

ty a

nd th

e ne

ed to

dec

reas

e po

llutio

n

Stro

ng in

crea

se in

veh

icle

pop

ulat

ions

La

rge

and

und

erpe

netra

ted

mar

kets

MA

RKET

DRI

VERS

INDI

CA

TE A

BUN

DAN

T GRO

WTH

PO

TEN

TIAL

23


NO

tES

Shar

ehol

der v

alue

Robu

st s

ubsc

riber

an

dre

venu

e gr

owth

Sust

aina

ble

prof

it m

argi

nsSt

rong

cas

hflo

w a

nd d

iscip

lined

ca

pita

l allo

catio

ns

Low

pen

etra

tion

in h

igh

grow

th m

arke

t

OUR

STR

ATE

GY

–DR

IVIN

G S

HARE

HOLD

ER V

ALU

E

24


NO

tES

Glo

bal b

rand

Dist

ribut

ion

Qua

lity

serv

ice

St

reng

then

bra

nd

awar

enes

s and

mar

ket

shar

e in

exi

stin

g m

arke

ts

Build

bra

nd a

nd tr

ust i

n ne

w m

arke

ts

Te

sted

expa

nsio

n m

odel

w

ith p

rud

ent o

rgan

ic

grow

th

Con

serv

ativ

e al

loca

tion

of fu

nds i

nto

new

ge

ogra

phie

s

Incr

ease

d sa

les

capa

bilit

ies i

n ex

istin

g an

d ne

w m

arke

ts

Imp

rove

d in

stal

latio

n m

anag

emen

t and

job

sche

dul

ing

St

ayin

g ah

ead

of

tech

nolo

gica

l tre

nds t

o en

hanc

e cu

stom

er

expe

rienc

e

Con

tinuo

us

impr

ovem

ents

of o

ur

inte

rnal

syst

ems a

nd

softw

are

to a

llow

our

st

aff t

o m

ake

quic

ker

and

mor

ein

form

ed

dec

ision

s

A W

ELL

DEFI

NED

AN

D A

LIG

NED

OPE

RATIO

NA

L ST

RATE

GY

25


NO

tES

St

art t

o cr

oss s

ell a

dd

ition

al fe

atur

es a

nd v

alue

ad

ded

serv

ices

to

our e

xist

ing

cust

omer

bas

e

Con

tinue

to o

rgan

ical

ly g

row

in th

e co

untri

es w

here

alre

ady

esta

blish

ed

Del

iver

mor

e so

ftwar

e an

d se

rvic

es to

our

cus

tom

ers a

s to

be th

e in

timat

e te

chno

logy

par

tner

–w

e w

ill fo

cus o

n in

crea

sing

adop

tion

and

usag

e of

the

Car

track

app

licat

ions

C

ontin

ue to

enh

ance

our

alre

ady

diff

eren

tiate

d m

odus

ope

rand

i 26

GRO

WTH

STR

ATE

GY

2016

STR

ATE

GIC

INITI

ATIV

ES

26


NO

tES

USA

OFF

ICE

OPE

NIN

G IM

MIN

ENT

Th

e US

A m

arke

t has

a 1

5% to

30%

pen

etra

tion

rate

of f

leet

s (fe

w

conf

lictin

g re

ports

)

With

the

man

dato

ry re

quire

men

t for

com

mer

cial

driv

ers t

o ke

ep a

Re

cord

of D

uty

Stat

us (R

OD

S) u

sing

Elec

troni

c D

river

Log

s by

Dec

embe

r 201

7, th

ere

are

still

over

3.1

mill

ion

vehi

cles

that

requ

ire

vehi

cle

tele

mat

ics (

Dris

coll

& A

ssoc

iate

s 201

6)

The

unit

mon

thly

sellin

g pr

ice

of e

xist

ing

prov

ider

s in

the

USA

re

flect

s a si

gnifi

cant

opp

ortu

nity

for C

artra

ckto

ent

er th

e m

arke

t an

d c

ompe

te a

ggre

ssiv

ely

C

artra

ck’s

softw

are

and

har

dw

are

has h

ighl

y co

mpe

titiv

e te

chno

logi

cal f

eatu

res,

cost

pric

ing

and

relia

bilit

y.

Car

track

’sst

rong

sale

s and

mod

us o

pera

ndit

rack

reco

rd, i

n hi

ghly

co

mpe

titiv

e an

d d

iver

se m

arke

ts, i

s wel

l sui

ted

for t

he U

SA m

arke

t.

Car

track

has

a p

rove

n ha

nds o

n tra

ck re

cord

in c

usto

mer

serv

ice

whi

ch is

a fu

ndam

enta

l pilla

r to

a su

cces

sful

USA

ope

ratio

n

27


NO

tES

Con

sider

able

focu

s and

effo

rt w

as p

lace

d on

tech

nolo

gy d

evel

opm

ent a

nd u

pgra

des

in 2

016

N

ext g

ener

atio

n te

lem

atic

s uni

ts a

t an

adva

nced

stag

e of

com

plet

ion

W

ill pr

ovid

e en

hanc

ed p

erfo

rman

ce a

nd a

dd

ition

al fe

atur

es

Su

bsta

ntia

llya

ligne

d th

e C

artra

ckte

chno

logy

to c

ount

ry sp

ecifi

c m

and

ator

y re

quire

men

ts

Will

cate

r for

con

nect

ivity

to n

etw

orks

glo

bally

Ad

diti

onal

pro

duc

ts w

ere

add

ed to

Car

track

’sra

nge

A

uni

t dev

elop

ed to

allo

w c

ontin

uous

and

cos

t effe

ctiv

e gl

obal

roam

ing

abilit

y fo

r tra

ckin

g as

sets

that

trav

el in

tern

atio

nally

N

ew m

obile

app

licat

ions

are

bei

ng d

evel

oped

for c

ontin

uous

con

nect

ivity

and

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TES


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fact

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1C

artra

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as d

evel

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tech

nolo

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cally

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he tr

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ndus

try in

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nesia

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ses

are

fitte

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tele

mat

ics u

nit t

hat r

elay

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l tim

e in

form

atio

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con

sum

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tech

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ope

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rs w

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rout

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cust

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tern

atio

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NTE

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an e

nd-to

-end

man

aged

Ele

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rvic

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MS)

solu

tion

at t

he IN

TERP

OL

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RLD

201

5 ex

hibi

tion

in S

inga

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in

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as o

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ole,

hom

e d

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tion

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y ca

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so b

e pr

ison

inm

ates

goi

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roug

h ha

lfway

ca

re a

nd

who

are

in th

e pr

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eint

egra

ting

into

soci

ety.

IN

TEG

RATE

is a

lread

y in

use

in

Sing

apor

e -o

ne o

f the

safe

st c

ities

in th

e w

orld

acc

ordi

ng to

The

Eco

nom

ist’s

Inte

lligen

ce

Unit

Repo

rt 20

15.

Fact

3C

artra

ck h

as re

cent

ly b

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app

oint

ed th

e pr

efer

red

tele

mat

ics a

nd st

olen

veh

icle

re

cove

ry (S

VR)

pro

vid

er fo

r MA

N Tr

uck

& B

us in

Sou

th A

frica

. C

artra

ck h

as a

long

as

soci

atio

n w

ith M

AN

, ini

tially

sele

cted

as a

n ex

clus

ive

supp

lier o

f SV

R pr

oduc

ts a

nd

serv

ices

to M

AN

by

virtu

e of

Car

track

’s se

rvic

e re

cord

and

con

siste

ntly

hig

h re

cove

ry ra

te.

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rela

tions

hip

has n

ow b

een

exte

nded

to in

corp

orat

e a

full f

leet

tele

mat

ics p

rod

uct

and

serv

ice

for u

se b

y M

AN

clie

nts.

The

agre

emen

t inc

lud

es th

e fit

men

t of a

Car

track

Fl

eet M

anag

emen

t pro

duc

t to

all M

AN

TG tr

ucks

ass

emb

led

dai

ly a

t the

Tru

ck &

Bus

C

hass

is Pl

ant i

n Pi

neto

wn,

Kw

aZul

u-N

atal

.

OUR

VA

LUE

TO C

USTO

MER

S


Notes

CoRpoRAte inFoRmAtion

Registered office Cartrack Holdings limited

11 Keyes Avenue

Rosebank

2196

(po Box 4709, Rivonia, 2128)

directors Independent Non-executive Directorsdavid Brown (independent Chairman)

thebe ikalafeng

Kim White

Executive Directorsisaias Jose Calisto (Global Chief executive officer)

John Richard edmeston (Global Chief Financial officer)

Company SecretaryAnname de Villiers

Cartrack Corner

11 Keyes Road

Rosebank

Johannesburg

2196

(po Box 4709, Rivonia, 2128)

Sponsorinvestec Bank limited

2nd Floor

100 Grayston drive

Sandown

Sandton

2196

(po Box 785700, Sandton, 2146)

transfer SecretaryComputershare investor Services proprietary limited

70 marshall Street

Johannesburg

2001

(po Box 61051, marshalltown, 2107)

www.cartrack.co.za

audited annual financial results 2016 - cartrack ppt_presentation v5 _only.pdfcartrack audited...

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