Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 94

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 94
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 agencies and other interested parties to evaluate our competitors and to measure profitability.

We define Adjusted EBITDA (a
non-IFRS measure) as profit less finance income, plus finance costs, fair value changes to derivative assets, taxation, depreciation and
amortization, impairment of goodwill, and offering costs, less gain on disposal of subsidiaries.

However, non-IFRS financial information
is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation
or as a substitute for financial information presented in accordance with IFRS. Investors are encouraged to review the related IFRS financial
measure and the reconciliation of Adjusted EBITDA to profit, its most directly comparable IFRS financial measure, and not to rely on any
single financial measure to evaluate our business.

                                                                                                Year ended February 28/29                                                                               
                                                                                                2025                                                                                                    
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                (U. S.$                                                                                                 
  Profit for the year                                                                                                           50,379        937,110        754,156        608,806        24       24  
  Less: Finance income                                                                                                          (2,374        (44,167        (39,418        (23,255        12       70  
  Add: Finance costs                                                                                                             2,735         50,866         15,822         10,095       221       57  
  Add: Fair value changes to derivative assets                                                                                       —              —            388            971      (100      (60  
  Add: Taxation                                                                                                                 16,655        309,811        311,554        285,298        (1        9  
  Add: Depreciation of property, plant and equipment and amortization of intangible assets                                      35,619        662,559        648,142        544,931         2       19  
  Add: Impairment of goodwill                                                                                                    2,344         43,600              —              —       100        —  
  Add: Offering costs                                                                                                              812         15,113              —              —         —        —  
  Less: Gain on disposal of subsidiaries                                                                                           (77         (1,432              —              —         —        —  
  Adjusted EBITDA (