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MIX TELEMATICS LIMITED - Trading statement in terms of the JSE Listings Requirements: International Financial Reporting Standards results

Release Date: 24/05/2021 17:45
Code(s): MIX     PDF:  
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Trading statement in terms of the JSE Listings Requirements: International Financial Reporting Standards results

MiX TELEMATICS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1995/013858/06)
JSE share code: MIX ISIN: ZAE000125316
NYSE share code: MIXT
LEI Code: 529900S6HHR7CK7BU646
(“MiX Telematics” or “the Company”)


TRADING STATEMENT IN TERMS OF THE JSE LISTINGS REQUIREMENTS: INTERNATIONAL FINANCIAL REPORTING STANDARDS RESULTS


In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are
satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported upon next will
differ by at least 20% from the financial results from the previous corresponding period.

Accordingly, shareholders are advised that MiX Telematics expects basic earnings per share (“EPS”) and basic headline
earnings per share (“HEPS”) for the year ended March 31, 2021 to be between 41 cents per share and 47 cents per
share, being between 59% and 79% higher than the EPS of 26 cents per share and between 53% and 73% higher than
the HEPS of 27 cents per share for the year ended March 31, 2020 (“prior corresponding period”). The improved EPS
and HEPS performance is due to the deferred tax consequences of foreign exchange movements on intercompany loan
funding as a result of the strengthening of the Rand against the U.S Dollar during the year ended March 31, 2021. These
non-cash deferred tax movements and related foreign exchange gains are excluded from the Company’s calculation of
adjusted earnings per share. The Company does not expect a variance of more than 20% on this performance measure
for the year ended March 31, 2021.

Adjusted earnings per share is defined as profit attributable to owners of the parent, MiX Telematics Limited, excluding
net foreign exchange gains/(losses) net of tax and share based compensation costs related to performance share awards
in terms of the MiX Telematics Long-term Incentive Plan net of tax, divided by the weighted average number of
ordinary shares in issue during the period. Adjusted earnings per share provides a useful measure for period-to-period
comparisons of the core business by excluding net foreign exchange gains/(losses) net of tax from earnings, as well as
certain share based compensation costs.

MiX Telematics’ results for the year ended March 31, 2021 will be published on Thursday, May 27, 2021.

The financial information on which this trading statement is based has not been reviewed or audited by the Company’s
auditors.

May 24, 2021


JSE sponsor
Java Capital

Date: 24-05-2021 05:45:00
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