Cartrack Holdings - 500 Beiträge pro Seite

[R-BgO]

...ist ein Telematics Provider aus Südafrika, für den es leider noch keine WKN zu geben scheint;

gehandelt wird in Jo'burg: www.jse.co.za/current-companies/companies-and-financial-inst…

[R-BgO]

interessanterweise ist die Aktie bei finanznachrichten.de schon bekannt: http://www.finanznachrichten.de/suche/uebersicht.htm?suche=c…

[R-BgO]

HJ-Zahlen sind angekündigt für den 11.11.

[R-BgO]

http://www.financialmail.co.za/opinion/columnists/2015/06/04…

...

In the interim, however, I am closely monitoring recently listed vehicle tracking specialist Cartrack, which continues to impress me with an expansion strategy that seems to follow the safest route to bigger profits. I still back a convincing turnaround at tracking rival Digicore, but Cartrack is also sending out strong signals.

What I found arresting in commentary accompanying results to February is the forecast that annuity revenue will represent more than 90% of total revenue in the financial year ahead — and a high vehicle recovery rate in SA of 93%. Contrasting so many other cautious outlook statements, Cartrack directors are predicting strong profit growth and commensurate dividend growth for 2016. The way I see it is that Cartrack has a relatively mature business in SA, evidenced by an 18% increase in revenue to R627m and an 8,4% uplift in profit before tax (PBT) to R237m. The company’s African business, on the other hand, saw a 40% hike in revenue to R124m and a stunning 57% surge in PBT to R57m. The difference is that the steadily churning local business earns a fat 38% PBT margin compared with the sprightlier African segment, which managed a 24% PBT margin. Of course, one can speculate that once the African business is firmly established in each country the margins will be puffed out.

Overall, the split between local and foreign revenue has changed quite drastically during the financial year to 75%-25% (from 84%-16% previously). Importantly, this split has carried down to PBT level, thanks not only to African growth but also to evidence of operational traction in Europe. Cartrack’s fledgling European operations revved revenue from R13m to R80m, and then managed to produce almost R16m in PBT (previously just R1m). It’s early days in the selected European markets of Spain, Poland and Portugal, but the PBT margin of 23,5% is definitely worth noting.

Because net cash flows from the core local operations (and increasingly Africa and Europe) are strong — touching R266m or 89c/share — there are no real worries that Cartrack’s small Asian and Middle East operations will only reach break-even in the medium term. Directors also reassure that capital allocation discipline will be maintained in new geographies. So far this has paid off. Last week the news came that Cartrack had been awarded the prisoner tracking tender by the Singapore government, which not only highlights the company’s technology but hints that its tracking applications might be multifold.

For my many friends who dote on their dividend yield, the Cartrack story is compelling. A payout of 46c/share was made in the past financial year, covered 1,4 times by earnings. That represents a rather nifty yield of 3%. Directors have confirmed a dividend cover target of between 1,25 times and 1,55 times headline earnings for the 2016 financial year. Reasonable growth could see a yield of close to 5% at current prices, which is pretty good going, considering Cartrack’s growth attributes for the medium term also look fairly robust.

And, frankly, I would not be ruling out the chances of corporate action either ...

[R-BgO]

Zahlen per 28.2.2016 waren sehr ordentlich,

weswegen ich heute bei meinem Broker einen erneuten Versuch gestartet habe, die Aktie für mich handelbar zu machen. Vielleicht kann es ja jemand anderes auch mal versuchen.

ISIN ist: ZAE000198305



News:

Cartrack’s imminent entry into US part of its global expansionCOMPANIES / 01 Jun '16, 07:30am
Roy Cokayne


Johannesburg - An expansion into the US market by listed fleet management, stolen vehicle recovery and insurance telematics group Cartrack is imminent.

Cartrack global chief executive Zak Calisto confirmed this yesterday, adding the US could easily become the group’s biggest operation within the next eight years.


Cartrack plans US start-up operation

The imminent entry into the US market forms part of Cartrack’s international expansion drive that has resulted in the group opening operations in six countries in Asia and the Middle East last year.

Calisto said the group was merely getting its systems and regulatory approvals ready before entering the US market.

He said Cartrack would establish operations first in California, which he described as the biggest economy in the world, and use it as the springboard for the group’s expansion into the rest of the US.

Calisto said the rationale for entering the US was that Cartrack’s technology and pricing was good and the market was under-penetrated.

He said average market subscriptions in the US was about $40, which in rand terms amounted to about R629 a month per subscriber compared to the group average subscription of R150 a month per subscriber.

Cartrack last year established operations in Indonesia, Malaysia, Hong Kong, the Philippines, Thailand and the UAE (United Arab Emirates) using its well-established office in Singapore as the hub. Calisto confirmed the group had also entered the Australian and New Zealand markets through a licensee agreement, which included an option for the group to buy up to 51 percent of the equity in the operations within the first five years using a predetermined formula.

Cartrack in the year to February grew revenue by 20 percent to R1 billion from R834.8 million.

Revenue from international operations grew by 25 percent to R256.9m.

Calisto said all regions contributed to this growth, with revenue from international operations accounting for 26 percent of Cartrack’s total revenue and South Africa 74 percent.

He said there was still a lot of upside to Cartrack’s growth in South Africa but would over the next three to four years like to grow the contribution of international operations to group revenue to 50 percent.

Cartrack yesterday reported a 27 percent growth in headline earnings a share to 81c in the year to February from 64c in the previous year.

Operating profit improved by almost 19 percent to R344.8m from R290m. There was a net R13m positive impact on Cartrack’s total consolidated profit before tax during the year from currency fluctuations.

A final cash dividend a share of 35c was declared, increasing the dividend for the year to 55c, which is 20 percent higher than the previous year.

Cartrack’s global active subscriber base grew by 17 percent or about 72 000 units to 502 849 units in the year.

But Calisto said there was considerable churn in the group’s subscriber base, particularly in Africa for subscribers of services at the lower end of the price spectrum, because of economic conditions on the continent.

Calisto said the group would have added 94 000 subscribers during the year were it not for debt defaults and write-offs.

The subscriber base in Africa still increased by 10 percent despite this churn, revenue by 22 percent and operating profit by 29 percent to R56.5m.

Calisto said despite the global economic and foreign exchange uncertainties, Cartrack expected solid growth in the current financial year in keeping with the group’s track record.

The company’s share price was unchanged at R9.50 at the close on the JSE yesterday.

[R-BgO]

Fundamentale Bewertung:

KGV 12
KBV 7,5
EKR 140%
Divi 5,3%


=> extrem hohe Kapitalrendite erlaubt, fast alles auszuschütten und trotzdem schnell zu wachsen

[R-BgO]

Antwort auf Beitrag Nr.: 52.661.090 von R-BgO am 21.06.16 11:06:06

Fortschritt!

comdirect hat es geschafft, eine WKN zu generieren: A2AMHP


eben eine Order in JNX gelegt, mal sehen ob ich was kriege

[R-BgO]

Antwort auf Beitrag Nr.: 52.713.733 von R-BgO am 28.06.16 14:49:07

bedient worden zu 10 ZAR pro Stück,

scheint aber ziemlich dünner Handel zu sein und comdirect kennt keinen Kurs...

[R-BgO]

Antwort auf Beitrag Nr.: 52.720.114 von R-BgO am 29.06.16 10:52:54

heute nochmal nachgelegt

und zu 10,40 Rand verdreifacht

[R-BgO]

sehr ordentliche Zahlen, sowohl zum GJ als auch zum HJ;

zuletzt 666.000 subscriber

[R-BgO]

weiter sehr gute Zahlen

[skydiver78]

Antwort auf Beitrag Nr.: 57.651.978 von R-BgO am 28.04.18 12:23:57

Zitat von R-BgO: weiter sehr gute Zahlen

Hallo, hast Du die Papiere noch in Deinem Depot? Comdirect findet die WKN nicht.

[R-BgO]

Antwort auf Beitrag Nr.: 57.767.353 von skydiver78 am 15.05.18 21:40:55

habe sie sogar über Comdirect gekauft:

WKN ist A2AMHP;

der Informer ist purer Schrott, der findet gar nichts

[R-BgO]

Antwort auf Beitrag Nr.: 57.651.978 von R-BgO am 28.04.18 12:23:57

Halbjahr auch,

850k subs inzwischen

[R-BgO]

Antwort auf Beitrag Nr.: 59.158.017 von R-BgO am 07.11.18 13:34:34

Jahresergebnis sehr gut,

Börse goutiert's:

bisheriger Chartverlauf, seitdem ich gucke:

[R-BgO]

Antwort auf Beitrag Nr.: 60.749.208 von R-BgO am 06.06.19 14:07:18

nochmal nachgelegt

zu 18,90 ZAR verteuert

[R-BgO]

Antwort auf Beitrag Nr.: 60.749.562 von R-BgO am 06.06.19 14:38:29

bloß nicht:

[R-BgO]

Antwort auf Beitrag Nr.: 61.356.319 von R-BgO am 28.08.19 07:19:23

https://cartrack.hosted.inetbfa.com/news/story/9a3d4fe0-f929…

https://cartrack.hosted.inetbfa.com/news/story/946b833b-bbb1…

[R-BgO]

Antwort auf Beitrag Nr.: 61.356.319 von R-BgO am 28.08.19 07:19:23

aus dem Offering Circular: