Haulage technology company Fleetmatics annual revenues rise 23%

The specialist technology company for the haulage industry, Fleetmatics, has reported annual revenues of $284.8m (€256m) for 2015; 23% up on the previous year.

The good performance was significantly boosted by a strong end to the year, when fourth-quarter revenues rose 21%, on an annualised basis, to $77.2m.

In the 12 years since its establishment in Tallaght in 2004, Fleetmatics has grown to become a global industry leader listing on the New York Stock Exchange in 2012 and closing 2015 with its modern tracking technology used in nearly 710,000 vehicles.

“We remain very well positioned to leverage several major trends reshaping the technology landscape including the proliferation of the internet of things, the widespread adoption of mobility, the migration to software as a service-based solutions and the growth of big data,” said chairman and chief executive Jim Travers.

“In 2016, we will remain relentlessly focused on extending our leadership in our key markets to take full advantage of these trends for the benefit of our customers and our shareholders.”

Last year’s record revenues saw best-ever net profits of $38.8m and free cash flow of $45.2m. Management has guided for revenues of $342m to $346m this year and adjusted earnings of up to $117m.

“We believe we are well positioned to deliver top-line growth of approximately 20% in 2016 while driving expanded full-year adjusted earnings before interest, tax, depreciation and amortisation margin of 34% to 35%,” said chief financial officer Steve Lifshatz.