Quartix announces exceptional results in 2019

Quartix, a leading supplier of subscription-based vehicle tracking systems, software and services, is pleased to provide an update on trading for 2019. The company will publish its results, together with accompanying presentations, for the year ending 31 December 2019 on Monday 24 February 2020. In the meantime, the trading statement has been posted on Quartix’s website at quartix.com/investors. The Quartix Board is pleased to report that it expects revenue, profit and free cash flow to be ahead of current market forecasts.

“We are enormously pleased with these results,” says Managing Director Andy Walters. “Quartix completed some exciting technological developments during 2019 and we will continue to invest in enhancing our fleet tracking system. Considering the competitive market we are in and the challenges that brings, to have such brilliant growth speaks to the dedication of our staff and the strength of our customer relationships.”

Quartix made excellent progress in its core fleet business in the USA, France and the UK, and entered a range of new territories with encouraging results. Revenues in the fleet industry are expected to have grown by around 10%, accounting for approximately 80% of the company revenue.

Quartix has continued to invest in its software and telematics technology, having maintained progress in its web and mobile-based applications and launched further new variants of its telematics products. These enhancements also accommodated additional languages in the Quartix fleet tracking system and commercial websites. This multi-lingual support, together with the TCSV12 OBD and battery mounted self-install devices, provided a platform for expansion into Spain, Germany, Poland and Italy.

About Quartix

Quartix has delivered real-time vehicle tracking and telematics solutions to mobile fleets for over 18 years. Businesses choose Quartix because of its cost-efficient solutions that are easy-to-use from installation through to reporting. Over 13,000 companies use Quartix solutions to gain actionable insight into vehicle movements, driver timesheets, driver behavior and fuel consumption.