Karooooo Ltd. Announces Third Quarter 2022 Unaudited Financial Results

Karooooo Ltd. Announces Third Quarter 2022 Unaudited Financial Results

Karooooo Ltd.
(a public company incorporated and registered in the Republic of Singapore)
(Unique Entity Number: 201817157Z)
JSE share code: KRO NASDAQ share code: KARO
ISIN: SGXZ19450089

Karooooo Ltd. Announces Third Quarter 2022 Unaudited Financial Results

Karooooo Ltd. (“Karooooo”), which owns 100% of Cartrack Holdings (“Cartrack”), yesterday reported results
for the third quarter of its 2022 financial year (“2022”), ended November 30, 2021. The press release is
included as an exhibit to its 6-K (the “Report on Form 6-K”) dated 18 January 2022 to be furnished to the
United States Securities and Exchange Commission (“SEC”). Investors are referred to the full press release
as published and available on the Karooooo website at

Third Quarter 2022 Highlights:
(Comparisons are relative to the Third Quarter 2021, unless otherwise stated)


Karooooo’s strong growth momentum in the number of subscribers continues. Despite ongoing disruption
from the global effects of the pandemic, our business model drove new customer additions, delivering growth
in the total number of subscribers (connected vehicles or other assets on our platform).

    -   1,470,385 subscribers in total as of November 30, 2021, up 18% (Q3 2021: 1,246,089)
    -   164,385 net subscriber additions for the nine months ended November 30, 2021, up 37%
        (Nine months ended November 30, 2020: 119,574)


    -   Total revenue increased 22% to ZAR720 million (Q3 2021: ZAR589 million)
    -   Total revenue increased 25% on a constant currency basis (a non-IFRS measure)
    -   Subscription revenue increased 17% to ZAR664 million (Q3 2021: ZAR567 million)
    -   Subscription revenue increased 19% on a constant currency basis (a non-IFRS measure)
    -   SaaS Annualized Recurring Revenue (“ARR”), (a non-IFRS measure), increased 16% to ZAR2,760
        million as at November 2021 (November 2020: ZAR2,373 million).
    -   Operating Profit increased 3% to ZAR205 million for the period (Q3 2021: ZAR198 million)
    -   Earnings per share increased 10% to ZAR4.72 (Q3 2021: ZAR4.30)

Conference Call Information

Karooooo management will host a conference call and audio webcast on Wednesday, January 19, 2022
at 08:00 a.m. Eastern Time (03:00 p.m. South African time; 09:00 p.m. Singaporean time).

About Karooooo

Karooooo, headquartered in Singapore, is a leading global provider of an on-the-ground operational IOT
SaaS cloud that maximizes the value of transportation, operations and workflow data by providing insightful
real-time data analytics to over 1,470,000 connected vehicles and equipment. Karooooo assists thousands
of enterprise customers in digitally transforming their on-the-ground operations. The Cartrack (wholly owned
by Karooooo) SaaS platform provides customers with differentiated insights and data analytics to optimize
their business operations and workforce, increase efficiency, decrease costs, improve safety, monitor
environmental impact, assist with regulatory compliance and manage risk. For more information, visit

Wednesday, 19 January 2022

Merrill Lynch South Africa Proprietary Limited
t/a BofA Securities

Date: 19-01-2022 07:05:00
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