Karooooo Ltd. (NASDAQ:KARO) Q3 2023 Earnings Conference Call January 20, 2023 8:00 AM ET
Company Participants
Richard Schubert - Chief Operating Officer
Carmen Calisto - Chief Strategy and Marketing Officer
Zak Calisto - Chief Executive Officer and Founder
Conference Call Participants
Richard Schubert
Welcome to the Karooooo 2023 results webinar. I am Richard, the group’s COO and we are pleased to present the Q3 results to our shareholders and investors. We are excited to share our performance, growth, and future plans. Our team led by our CEO and Founder, Zak, is committed to delivering on our strategic goals and creating long-term value for all of our stakeholders. With Hoeshin, our Chief Financial Officer and the rest of the team, we are confident in our abilities to continue driving growth and innovation in the future. All shareholders and investors are advised to read this disclaimer.
Today, we will review the three entities within Karooooo, mainly Carzuka, Cartrack, and Karooooo Logistics. At Karooooo, we understand that mobility is core to all underground operations. We are not only thinking about connected vehicles and equipment, but also on how to improve the overall mobility ecosystems. We are constantly exploring new ways to use data to optimize operations and make them more efficient.
We are establishing the leading connected cloud platform, enabling customers to develop effective controls and workflows, while digitizing their daily operations in one enterprise grade platform. Our cloud platforms seamlessly embeds into the day to day activities of our customers and offers unprecedented visibility of varying aspects of their operations covering driver, vehicle, cargo, worksite and more.
Our platform contextualize these data points to offer actionable insights for their challenges. This helps customers understand and ultimately streamline their operations, enabling them to deliver on their service offering to a higher level and remain competitive within their industries. We are committed to providing our customers with the best possible service and support, and we are constantly looking for new ways to improve our platform and our service offering.
Karooooo's cloud platform is well-positioned to successfully service customers across diverse industries. We support over 100,000 small to large businesses in optimizing their underground operations, including global multinationals like Coca Cola and Cargill. This is a 15% increase, compared to the previous quarter. Our success across our diverse customer base continues, ensuring our low customer and industry concentration risk.
[Highlights of the] Karooooo Investment. Innovating through an entrepreneurial approach that prioritize customer needs, utilizes hands on experience and skills, and being adaptable in both planning and execution, offering a strong value proposition, proven track record of delivering value enhanced solutions and passing on cost savings to customers through successful execution while maintaining prudent capital allocation.