The needs of EROAD customers continually evolve, opening more revenue streams within our current base, which we are capturing through new product innovation. This path has delivered a sophisticated suite of global products designed around market needs.

As we continue this journey, we want to ensure we’re bringing you with us. Past feedback suggests we need to improve frequency, content, and style of our communications. Starting with this shareholder newsletter, we commit to providing simplified and relevant updates on progress against stated goals, product innovations, customer insights, wins and company news.

Winning Awards, and Customers.
EROAD has been awarded the 2023 CompassIntel IoT Innovator Award in Trucking Fleet Management for CoreTemp. We have also announced today our success in securing the business of large, respected brands Boral and Woolworths. Boral has resigned and expanded with EROAD and Woolworths have selected us as preferred supplier after a competitive tender process. The partnerships span 4,345 units in 5-year deals. We are privileged and excited to help these iconic Australian companies deliver for their customers. These partnerships are particularly important for EROAD, as both Boral and Woolworths were originally Coretex customers, evidence that the Coretex integration into EROAD is progressing well and delivering value for customers.

Bringing our sustainability credentials front and centre
Today, most of EROAD’s products are designed to help customers do more work with fewer vehicles, consuming less energy, while keeping staff and the public safe. Put simply, we have been helping customers on their sustainability journey for over 10 years.

The payback for customers was always there; fuel savings, less capital tied up in vehicles, a safer work force, and less product wastage during transportation all have bottom line and reputational benefits. What’s changed globally is not just the financial upside of doing these things, but the increased demand from governments and investors on our customer base.

Fuelling our Growth
Our $50m capital raise has provided certainty to our stakeholders that we are resourced for the growth ahead. A strong balance sheet is required by enterprise customers where large fleet sizes and longer contract terms demand financial stability throughout the contract period. It also gives confidence to our institutional investors that we can withstand head winds.

Embedded Leadership
Relentless execution needs the right team, and we continue to build this at both board and leadership level to ensure we have the right mix of skills, energy and experience.

On 10 July after Chairing the Finance Risk and Audit Committee Susan stepped into the role of Board Chair. The board also welcomed David Green replacing long standing director Tony Gibson. A search is underway for another director to round out the board skills.

While in North America Karl Weber was recently appointed as EVP Sales to scale up and lead our enterprise sales teams in the region.

Thank you for your continued support and faith in EROAD. We understand that not all shareholders will be happy with every decision the board has made this year, but our focus remains on the longer-term potential of EROAD.

Please read on for insights into some customer wins, product innovations around data and AI, and a fantastic new carbon emissions measurement tool to help customers meet their Net Zero targets.

Susan Paterson, Chair & Mark Heine, CEO