The diversified automotive group, which offers aftermarket, mobility solutions, new car sales and rentals, reports an increase in operating income of 22%.
Diversification and international exposure are at the heart of Motus Holdings Limited’s strong showing for the six months ended 31 December, as the automotive group posted healthy growth in its aftermarket, mobility solutions and car rental divisions.
Revenue is up 14% to R51.2-billion , with an increase in operational performance of 25%, from R2.96-billion over the same period in 2021 to R3.7-billion. Profit before tax increased 7% to R2-billion.Earnings per share grew by 17% to 916c. In context: the six-month results are a snapshot of an otherwise disparate year. Motus CEO Osman Arbee toldthat in December 2021, they had many cars available when there was a shortage, which is why Motus did particularly well. By December 2022, the situation started normalising.
The group’s passenger and commercial vehicle businesses worldwide sold 66,147 new units , and 43,422 pre-owned units during the period. Rolling blackouts are also having an effect. The group has already invested about R100-million on mitigating the effects of rolling blackouts and, over the next 18 months, it will be looking to spend another R250-million.
Another factor is the effect on call centres, where they sell insurance products through their mobility solutions: The centre might be functional during blackouts, but when their agents try to make sales calls, customers battle with cellular signal as the towers are down.
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