Karooooo Ltd. (KARO) Q1 2027 Earnings Call Transcript

Hello, and welcome to Karooooo's Q1 FY 2027 Financial Results Presentation. On behalf of Karooooo, we would like to thank you for joining us today. I'm Paul Bieber, VP of Investor Relations and Strategic Finance. We are joined today by Zak Calisto, Founder and Group CEO; Hoeshin Goy, Chief Financial Officer; and Carmen Calisto, Chief Strategy and Marketing Officer. I would like to remind everyone that some of the statements that we make today regarding our business, operations and financial performance may be considered forward-looking. Such statements are based on current expectations and assumptions. They are subject to several risks and uncertainties. Our actual results could differ materially. Please refer to the safe harbor statement in our Form 20-F, including the risk factors and the 6-K that we filed yesterday. We undertake no obligation to update any forward-looking statements. During this call, we will present both IFRS and non-IFRS financial measures. A reconciliation of non-IFRS to IFRS measures is included in the 6-K that we filed with the SEC yesterday. Our comments may refer to year-over-year comparisons unless we state otherwise. I will now pass the call over to Carmen. Thanks, Paul. Welcome to Karooooo's Q1 FY '27 Financial Results Presentation. FY '27 is off to a strong start, highlighted by Cartrack subscription revenue growth accelerating to 19% in Q1 despite foreign exchange headwinds associated with the strengthening ZAR. In constant currency, Cartrack subscription revenue growth accelerated to 21%. And despite the strengthening ZAR, ARR growth