LONDON– 16 April 2025
MotorK PLC (AMS: MTRK) (“MotorK”, the “Group” or the “Company”), a leading SaaS provider to the automotive retail industry in the EMEA region, , today announced that its Board of Directors has approved the Annual Report and Accounts for the financial year ended 31 December 2024 (the “Annual Report”). The Annual Report, subject to shareholders’ approval next May 21st is now available on the Company’s website.
The Group has decided to change its reported alternative performance measure CARR (Committed Annual Recurring Revenue). In line with industry practice MotorK is now recognizing contracted subscription revenue for one year forward only. This decision is also in line with the increased volatility in the industry impacting automotive manufacturers and, potentially, long term contractual roadmaps. In addition, the Company has reclassified management fees charged on advertising services to clients as non-recurring. Both of these adjustments have been reflected in the Dec’24 reported CARR number as well as for the Dec’23 comparison period as follows:
FY 2024 AND FY23 CARR | ||
---|---|---|
In m€ | Restated | Previously Disclosed |
CARR FY 24 | 36.6 | 38.4 |
CARR FY 23 | 34.5 | 35.9 |
Additionally, MotorK announced that the Notice of the 2025 Annual General Meeting and the related Form of Proxy shall be published on the Group’s website by the end of next week.