Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 107

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 4A
Chunk 107
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  Africa-Other                                                           90,974         81,765        6,994        130,105        128,182        7,731  
  Europe                                                                200,774        166,845       20,847        387,777        337,121       21,461  
  Asia-Pacific, Middle East & USA                                       273,946        230,141       34,272        637,494        525,204       35,460  
  Total                                                               2,302,236      1,971,532      218,018      4,055,394      3,522,815      222,949  

  (1)      For convenience purposes only, amounts in South African rand                                                                                 

South Africa

We leveraged our strong market
position and well-established national distribution network to deliver strong subscriber growth during the financial year, contributing
to Karooooo’s robust financial performance. Revenue for South Africa increased ZAR 364.5 million, or 14%, for the financial year
ended February 28, 2025 driven by a 15% increase in subscription revenue of ZAR 367.7 million as a result of strong net subscriber growth
of 16% or 243,761 subscribers.

Africa-Other

This region remains a positive
cash generator and is strategic to our South African operations. The number of subscribers increased by 11% to 90,974 as at financial
year ended February 28, 2025 (2024: 81,765), translating to growth in subscription revenue by ZAR 1.9 million or 2%.

Europe

European revenue increased ZAR
51.6 million, or 15%, for the financial year ended February 28, 2025 compared to financial year ended February 29, 2024, primarily driven
by subscriber growth of 20% to 200,774 subscribers. We accelerated our organic subscriber growth by expanding our customer base and increasing
subscription sales to existing customers in the region.

Asia-Pacific, Middle East and USA

Revenue for Asia-Pacific, Middle
East and USA increased ZAR 117.6 million, or 22%, for the financial year ended February 28, 2025 compared to financial year ended February
29, 2024. Subscription revenue growth was driven by the number of subscribers in this region increasing 19% to 273,946 subscribers as
at February