Latest news with #Calisto
IOL News
5 days ago
- Business
- IOL News
Karooooo's Cartrack subscription revenue surges as interim dividend rises
Karooooo CEO Zak Calisto Image: Simphiwe Mbokazi/ANA Karooooo reported another set of strong results for the first quarter to May 31 with the number of Cartrack subscribers increasing by 17% while the interim dividend was up by more than 15%. On the JSE Wednesday morning, Karooooo's share price shot up by 5.73% to R920, following the announcement of the results. The share price is up by over 57% over 12 months. The interim dividend of $1.25 per ordinary share was declared versus $1.08 at the same time last year, which was paid due to the strong cash position and good earnings growth, CEO Zak Calisto said in an interview. 'We are pleased to report a strong start to the 2026 financial year highlighted by accelerating Cartrack subscription revenue growth across all regions,' he said. In June, Calisto sold 8% of his shares, but he remains in control with a 58% shareholding and has no intention to change control, he said. 'Every investor presentation I attend, they ask me about liquidity of the shares,' he said. 'We are realizing the benefits of our extensive footprint, and we believe that we remain well positioned to build our customer base,' he added. He said they remained optimistic about further healthy organic growth in all geographies. Southeast Asia presented the largest growth opportunity over the medium-to-long term and was their fastest growing region. Cartrack subscription revenue growth in Southeast Asia accelerated to 30% in the first quarter. Their second fastest growing region was Europe and third fastest South Africa. In South Africa, 'things have picked up, there is good momentum,' and the new head office in Johannesburg was enabling the group to attract good staff. Calisto added the consumer environment had improved and he was optimistic about economic prospects in the country. Karooooo's operating expenses increased 16% to R523m. Cartrack accounted for R497m (Q1 2025: R428m) in operating expenses, including investments in infrastructure and headcount to support territorial expansion and distribution growth. Karooooo Logistics accounted for R26m (R22m) of total operating expenses as investment to scale Karooooo Logistics continued. 'In the 2026 financial year, we aim to accelerate Cartrack subscription revenue growth by further expanding our distribution footprint in existing markets, driving broader platform adoption, and capitalizing on growing demand for video solutions,' said Calisto. Net Cartrack subscriber additions increased 11% to 84 013. Karooooo's subscription revenue increased 18.4% to R1.14bn. Cartrack's subscription revenue increased 18.5% to R1.14bn. Cartrack's SaaS (software-as-a- service) annualized recurring revenue (ARR) increased 18.3% to R4.57bn. Karooooo Logistics's B2B delivery-as-a-service (DaaS) revenue increased 19.8% to R121m. Karooooo's operating profit increased 17% to R352m. Cartrack's operating profit increased 19% to R342m. Karooooo's adjusted earnings per share increased 19% to R8.55. Calisto said that their proven track record of disciplined execution, sustained growth at scale, and highly profitable business model is supported by a solid balance sheet and a healthy cash position. 'We believe our investments in AI, platform innovation and customer experience will drive durable growth and robust results,' he said. Their guidance for the 2026 financial year of earning per share between R32.50 and R35.50, and on other financial metrics, remained unchanged. Karooooo reported cash and its equivalents at R1.1bn at May 31, 2025, up from R838m at February 28, 2025. There were also overdraft facilities of R300m available. BUSINESS REPORT
Geek Dad
02-06-2025
- Entertainment
- Geek Dad
Stack Overflow: Here We Go Again
Today's stack is about time travel. Wait, didn't that just happen last week? Maybe you're stuck in a time loop. Costumes for Time Travelers by A. R. Capetta In this book, time traveling is an ability that some people just develop, usually when they enter adulthood, and they find they're able to walk through the mists of time—though it wreaks havoc on regular footwear. Fortunately, most first-timers end up in Pocket, a little village outside of time, the only place to get time boots with specially formulated soles that can survive these temporal trips. It's here in Pocket that we find Costumes for Time Travelers, a shop where you can get tailor-made outfits for any time period, whether you're visiting the Renaissance or the Industrial Collapse. Calisto is an assistant to the store's capable owner, and when Mena takes an unexpected leave of absence, she puts them in charge of the shop. But things get turned topsy-turvy when Fawkes arrives: he's known as the 'time savant,' and he travels through time like a leaf on the wind. He seems to know Calisto already even though it's the first time they've met, and there's something dangerous following him. Costumes for Time Travelers is a time travel romance: Calisto and Fawkes have a relationship that may be a little reminiscent of The Time Traveler's Wife , if only because Fawkes experiences moments in his life out of order, though that's the main similarity. Who are the people chasing Fawkes—and now Calisto—and what is their aim? The pair end up racing through different eras to escape, and I liked the way that different characters perceive and manipulate time in different ways. Although the story is told in the third person, each chapter usually has one character as a focus—I guess it's called third-person omniscient limited. I've always found that a little bit disorienting at first because I don't realize why I'm getting one character's inner feelings but not the others, but I don't always catch when it shifts to another character. The central conflict involves some pretty creepy villains and high stakes, though I don't want to give too much away there. The romance is sweet and the characters take their time getting to know each other, even though Fawkes has already experienced some moments of their relationship in the future. It's not a very long book, but I love the way it introduces you to Pocket, this little place tucked away outside of time. Time Loops & Meet Cutes by Jackie Lau This book is probably more of a traditional romance novel than most of what I usually read—I wouldn't necessarily call it a rom-com though there are certainly humorous scenes in it, and there are also some pretty steamy and explicit scenes later in the book. But before we get to that, let me tell you about the time loop. Noelle Tom has a fairly mundane life as a mechanical engineer in Toronto. She's reliable (which means she gets a lot of extra work dumped on her), deliberate, and ever since a break-up with a serious boyfriend several years ago, she's decided that romance isn't for her. It's too unpredictable and she's not interested in being hurt again. But then she eats some dumplings at a strange little booth at a night market, and she wakes up to find herself stuck in a loop—and soon she's ready to try anything to get out of it. As she goes about different iterations of her day, she eventually wonders if what she's supposed to do is kiss somebody—kisses are supposed to break magic spells, right? But who would she kiss? Maybe Cam, a handsome brewery owner that she keeps running into at different places. Her first few attempts at flirting with him are definitely rom-com material, but when she hits the no-permanent-consequences phase of her time loop, she's able to start taking some risks, and eventually they hit it off. Well, except that every time she wakes up, things have reset and Cam doesn't remember her at all… or does he? There are little signs that maybe some of their interactions are sticking with him, and Noelle wonders if he's somehow key to getting out of this loop once and for all. One of my favorite parts of this book is the way it plays with the question: what happens to everyone else who isn't stuck in a time loop? What version of the world exists once the time loop ends? In almost every time loop story I've seen or read before, when the time loop ends, the world continues the last iteration of the day that the protagonist experienced. This book manages to introduce an alternative that I found really fascinating. If you love time loop stories, this one is worth reading for that alone. I don't have as much of a read on how it ranks as a romance novel, but I did like Noelle's journey through this weird relationship with its ups and downs: getting to take risks without fearing the consequences, but also the feeling of loss every time she had to start over. (And then the opposite when the loop ends: how do you behave when you know your partner will actually remember the things you do and say?) Oh, and if you love Asian cuisine, this book is full of it. Noelle makes several trips back to the night market, figuring that her time troubles are somehow linked to the mysterious dumplings she ate, so over the course of the book we get a smorgasbord of different dishes that she tries. There's also a few different beers (since the brewery plays a significant role in the story), but not quite as many once she finds one that she likes. That's it for today. It's a short stack because I've got a kid graduating from high school this week and things have been really hectic! If only I had a time machine… Disclosure: I received review copies of these books. Affiliate links to help support my writing and independent booksellers. Liked it? Take a second to support GeekDad and GeekMom on Patreon!
Business Insider
23-05-2025
- Business
- Business Insider
Africa welcomes new dollar billionaire from the world of car tracking technology
Africa has welcomed a new addition to its exclusive circle of dollar billionaires, bringing the continent's total to 23. Zak Calisto, founder and CEO of Karooooo Ltd., has become Africa's 23rd dollar billionaire. Calisto owns about two-thirds of Karooooo Ltd., which recently reported strong subscription revenue growth. As of March 2025, Africa boasts a combined billionaire wealth exceeding $105 billion, a record high. Zak Calisto, founder and CEO of Karooooo Ltd, a vehicle tracking and fleet management services firm, has joined Africa's exclusive circle of dollar billionaires. Karooooo Ltd., which began as Cartrack, has experienced significant growth after expanding its offerings to include AI-powered driver monitoring and fleet management services. This strategic shift has propelled Zak Calisto into the ranks of dollar billionaires. According to Bloomberg, Zak Calisto, the Portugal-born founder of Karooooo Ltd. (formerly Cartrack), owns approximately two-thirds of the company. The company's stock surged after reporting double-digit subscription revenue growth and a 25% increase in earnings per share for the year through February 2025. Calisto's journey from a local entrepreneur to a global billionaire showcases Africa's growing influence in the digital economy. His company, which moved its headquarters to Singapore in 2020, sees Asia as crucial to its future expansion plans. With a customer base of 2.3 million, mostly in South Africa, Karooooo Ltd. plans to prioritize organic growth but remains open to strategic acquisitions. " There's significant potential for even faster growth," Calisto said in an interview. Africa's billionaire count As of March 2025, Africa had 22 billionaires on its Forbes list, with fortunes spanning sectors such as manufacturing, retail, petroleum, real estate, and fashion. For the first time ever, the combined wealth of these African billionaires surpassed $100 billion, reaching a record $105 billion, up from $82.4 billion in the previous year when the continent had 20 billionaires. South Africa has consistently maintained a strong hold on the list, contributing the highest number of billionaires. In the 2025 ranking, South Africa accounted for seven billionaires, followed by Nigeria and Egypt with four each. The list also includes three billionaires from Morocco, one from Algeria (Issad Rebrab), one from Tanzania (Mohammed Dewji), and one from Zimbabwe (Strive Masiyiwa).
IOL News
15-05-2025
- Automotive
- IOL News
Karooooo's CEO outlines ambitious plans for expansion and profitability
KAROOOOO CEO and founder Zak Calisto says the group is building momentum for growth after four years of challenging market conditions Image: supplied Karooooo, which owns the vehicle tracking and fleet management solutions company Cartrack, has four difficult years behind it and is looking to the new financial year to build growth momentum, said the founder and CEO Zak Calisto. Interviewed on Thursday at the release of the fourth quarter results to February 28, Calisto, who has expanded the group into Asia, Europe and South Africa, said they scaled up in the last two quarters by nearly 1 000 additional staff, and the company had moved into a new head office in Johannesburg, this after a period where operations were impacted by the Covid pandemic for two years, and by the work-from-home trend. Karooooo's operating profit increased by 30% to R385 million in the fourth quarter and earnings per share increased 19% to R8.11. The number of Cartrack subscribers increased 17% to 2.3 million from 1.97 million. The group is ungeared with some R900m in cash. Calisto said their biggest business remains in South Africa, and he believes the market still has 'huge opportunities for growth.' The group is aiming to double the size of its South African business in the next four years, he added. He said there were similar opportunities in their European and Asia markets, and over time, it was likely that Asia would become the group's biggest market. 'We operate in an expanding and largely underpenetrated market globally, fueled by robust and sustained customer demand. This demand is driven by a heightened focus on digitalization, the need to improve operational efficiency and reduce costs, and increasing attention to safety in physical operations,' he said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ A significant goodwill impairment of R43.9m was realised, whch related to the political uncertainty in Mozambique. Calisto said some of their clients had their entire fleets and properties burned through the political riots. He estimated hundreds of vehicles were burned in total, and there was no certainty at this stage how long the political situation would remain resolved. He said despite the challenges in the fourth quarter, their Mozambique operation continued to support their South African customers who have cross-border operations and has remained profitable with healthy cash generation. 'In the 2026 financial year, we aim to accelerate Cartrack subscription revenue growth by expanding our distribution footprint in existing markets, driving broader platform adoption and capitalising on growing demand for video solutions,' he said. He said while their targets might be hard to meet, they had a strong and proven track record of execution, sustained growth at scale, and a highly profitable business model supported by a solid balance sheet and a healthy cash position. 'As we expand our distribution footprint in existing markets, we expect lower earnings per share growth in the 2026 year, given our planned upfront investment in sales and marketing for the year,' the group said. Cartrack's subscription revenue was forecasted to grow between 16% and 21% compared to the 2025 financial year, while Karooooo's earnings per share was expected to be between R32.50 and R35.50. Karooooo's adjusted earnings per share increased 39% to R9.48. Operating expenses increased 15% to R485m. Of the total, Cartrack accounted for R459m (Q4 2024: R399m) in operating expenses including investments in infrastructure and headcount to support territorial expansion and distribution growth. Visit:
