Exhibit 99.1

ITURAN LOCATION AND CONTROL LTD. PRESENTS

RESULTS FOR THE THIRD QUARTER OF 2019

Revenue of $69 million & Adjusted EBITDA of $18.7 million;

 Growth of 20,000 net after-market subscribers in the quarter

AZOUR, Israel – November 25, 2019 – Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced its consolidated financial results for the third quarter ended September 30, 2019.

Highlights of the third quarter of 2019

• Revenue of $69.0 million, up 29% year-over-year;

• Adjusted EBITDA of $18.7 million (26.8% of revenues), up 10% year-over-year

• Generated $11.5 million in quarterly operating cash flow;

• Dividend of $5 million declared for the quarter;

• Ituran added 20,000, net after-market subscribers and no change to OEM subscribers;

Management Comment

Eyal Sheratzky, Co-CEO of Ituran said, “While Ituran’s aftermarket business in Brazil has been recovering and returning to its growth trend, the OEM segment remains weak as a result of the difficult environment that the car manufacturers in the region are facing. 2019 has been a transitional year for us and we are working on realizing the synergies from the recently acquired OEM business across all our geographies. We are focusing on cross selling our services into new geographies as well as combining the operating footprint which will result in cost saving that will offset any decline in OEM revenues.”

Continued Mr. Sheratzky, “In the aftermarket business, the subscriber quarterly growth rate has returned to its long-term target level of around 20,000 subscriber-adds per quarter, which we are very pleased with. We expect that the resumption of aftermarket subscriber growth will translate into improved operating results in the coming year.”

The results include the consolidated non-GAAP financial results of Ituran, which exclude revenues and costs related to the purchase price allocation. For further details with regard to the reconciliation between the non-GAAP and GAAP results please see the financial tables with the press release.

Third quarter 2019 Results

Revenues for the third quarter of 2019 were $69.0 million. Non-GAAP revenues for the quarter were $70.0 million representing an increase of 31% compared with revenues of $53.4 million in the third quarter of 2018.

The higher average level of the US dollar exchange rate versus the Brazilian real and the Argentinean peso, during the quarter versus the same period last year reduced the overall revenue level in US dollar terms and had a negative impact on the reported year-over-year revenue growth rate. In local currency terms, third quarter non-GAAP revenue grew 33% year over year.

73% of revenues were from location-based service subscription fees and 27% were from product revenues.

Non-GAAP revenues from subscription fees were $51.2 million, representing an increase of 31% over the same period last year. In local currency terms, subscription fees grew 32% over the same period last year. The subscriber base amounted to 1,781,000 as of September 30, 2019. Ituran added 20,000, net after-market subscribers during the quarter and there was no change to the number of OEM subscribers.

Non-GAAP product revenues were $18.7 million, representing an increase of 31% compared with the same period last year.

Gross profit for the quarter was $31.9 million (46.2% of revenues). Non-GAAP gross profit for the quarter was $32.9 million (47.0% of revenues). This represents an increase of 14% compared with gross profit of $28.9 million (54.1% of revenues) in the third quarter of 2018.

The non-GAAP gross margin in the quarter on subscription fees was 56.3% compared with 61.8% in the same period last year. The lower margin was due to the lower average gross margin on the recently acquired OEM subscribers as well as a decrease in the gross margin from Brazil and Argentina.

The non-GAAP gross margin in the quarter on products was 21.5% compared with 33.0% in the same period last year. The variance in the gross margin between quarters was due to the product mix sold.

Operating profit for the quarter was $11.9 million (17.2% of revenues). Non-GAAP operating profit for the quarter was $13.7 million (19.6% of revenues). This is compared with an operating profit of $14.0 million (26.3% of revenues) in the third quarter of 2018. In local currency terms, the non-GAAP operating profit was unchanged compared with that of last year.

Adjusted EBITDA for the quarter was $18.7 million (26.8% of revenues), an increase of 10% compared to $17.0 million (31.8% of revenues) in the third quarter of 2018. In local currency terms, the increase in adjusted EBITDA was 17% year-over-year.

Net income in the third quarter of 2019 was $6.4 million (9.3% of revenues) or fully diluted earnings per share of $0.30. Net income on a non-GAAP basis in the third quarter of 2019 was $7.8 million (11.0% of revenues) or fully diluted earnings per share of $0.37.

Net income in the third quarter of 2018 was $26.0 million (48.8% of revenues) or fully diluted earnings per share of $1.24 in the third quarter of 2018. This included a one-time other income of $13.8 million, related to an accounting gain from an acquisition following the gain of control of Ituran’s joint venture with Road Track Holdings in Brazil and Argentina, which under GAAP rules, is accounted for at market value and was therefore revalued. The total gain is net of transaction related expenses. The net income on a non-GAAP basis in the third quarter of 2018 was $12.5 million (23.4% of revenues) or fully diluted earnings per share of $0.60.

Cash flow from operations for the quarter was $11.5 million.

As of September 30, 2019, the Company had cash, including marketable securities, of $56.5 million and debt of $74.5 million, amounting to a net debt of $18.0 million or $0.86 per share. This is compared with cash, including marketable securities, of $53.3 million and debt of $73.2 million, amounting to a net debt of $19.9 million, or $0.93 per share, as of December 31, 2018.

Dividend

For the third quarter of 2019, a dividend of $5.0 million was declared in line with the Company’s stated current policy of issuing at least $5 million on a quarterly basis.

Share Buy Back

On May 21, 2019, the board of directors approved a share buyback program, which Ituran has commenced. Under the program, the Company is able to repurchase Ituran shares in an amount up to $25 million by December 31, 2020. As of September 30, 2019, Ituran repurchased a total of 121,000 shares amounting to approximately $3.5 million.

Conference Call Information

The Company will also be hosting a conference call later today, November 25, 2019 at 9am Eastern Time.

On the call, management will review and discuss the results, and will be available to answer investor questions.

To participate, please call one of the following teleconferencing numbers. Please begin placing your calls a few minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

US Dial-in Number: 1 888 407 2553

ISRAEL Dial-in Number: 03 918 0610

CANADA Dial-in Number: 1 866 485 2399

INTERNATIONAL Dial-in Number:  +972 3 918 0610

at:

9:00am Eastern Time, 6:00am Pacific Time, 4:00pm Israel Time

For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran’s website.

Certain statements in this press release are "forward-looking statements" within the meaning of the Securities Act of 1933, as amended.  These forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors.

About Ituran

Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.

Ituran's subscriber base has been growing significantly since the Company's inception to approaching 2 million subscribers using its location based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 3,000 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.

For more information, please visit Ituran’s website, at: www.ituran.com

Company Contact	International Investor Relations
Udi Mizrahi udi_m@ituran.com Deputy CEO & VP Finance, Ituran (Israel) +972 3 557 1348	Ehud Helft ituran@gkir.com GK  Investor & Public Relations (US) +1 646 201 9246

ITURAN LOCATION AND CONTROL LTD.

Condensed Consolidated Interim Financial Statements

as of September 30, 2019

ITURAN LOCATION AND CONTROL LTD.

Condensed Consolidated Interim Financial Statements

as of September 30, 2019

Table of Contents

	Page
Condensed Consolidated Interim Financial Statements:
Balance Sheets	2-3
Statements of Income	4
Reconciliation of NON-GAAP results	5-6
Statements of Cash Flows	7

ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

	US dollars
	September 30,		December 31,
(in thousands)	2019		2018
Current assets
Cash and cash equivalents		56,254		51,398
Investments in marketable securities		233		1,897
Accounts receivable (net of allowance for doubtful accounts)		48,667		54,261
Other current assets		48,200		52,983
Inventories		25,642		28,367
		178,996		188,906
Long-term investments and other assets
Investments in affiliated companies		2,086		4,872
Investments in other company		3,126		2,772
Other non-current assets		3,325		3,222
Deferred income taxes		10,410		12,127
Funds in respect of employee rights upon retirement		11,316		9,497
		30,263		32,490
Property and equipment, net		48,438		50,460
Operating lease right-of-use assets, net		6,331		-
Intangible assets, net		37,822		39,040
Goodwill		62,343		62,896
Total assets		364,193		373,792

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS (cont.)

	US dollars
	September 30,		December 31,
(in thousands)	2019		2018
Current liabilities
Credit from banking institutions		20,599		10,559
Accounts payable		19,733		23,987
Deferred revenues		30,183		37,671
Operating lease liabilities, current		2,313		-
Other current liabilities		29,883		32,475
		102,711		104,692
Long-term liabilities
Long term loan		53,924		62,622
Liability for employee rights upon retirement		17,084		14,801
Provision for contingencies		158		201
Deferred income taxes		4,875		6,458
Deferred revenues		8,816		8,221
Operating lease liabilities, non-current		4,018		-
Obligation to purchase non-controlling interests		15,916		16,272
Others non-current		129		325
		104,920		108,900
Stockholders’ equity		150,032		153,693
Non-controlling interests		6,530		6,507
Total equity		156,562		160,200
Total liabilities and equity		364,193		373,792

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
(in thousands except per share data)	2019			2018			2019			2018
Revenues:
Location-based services		155,086			126,315			50,261			39,126
Wireless communications products		58,755			47,855			18,734			14,250
		213,841			174,170			68,995			53,376
Cost of revenues:
Location-based services		67,497			45,994			22,403			14,938
Wireless communications products		46,318			38,899			14,714			9,545
		113,815			84,893			37,117			24,483
Gross profit		100,026			89,277			31,878			28,893
Research and development expenses		10,335			3,727			3,207			1,628
Selling and marketing expenses		9,593			8,423			3,290			2,941
General and administrative expenses		41,155			33,385			13,558			10,795
Other income, net		(72	)		(308	)		(77	)		(190	)
Operating income		39,015			44,050			11,900			13,719
Other income (expense), net		(37	)		13,833			11			13,833
Financing income (expense), net		(2,701	)		2,134			(847	)		1,566
Income before income tax		36,277			60,017			11,064			29,118
Income tax expenses		(10,869	)		(12,416	)		(3,680	)		(3,906	)
Share in gains (losses) of affiliated companies ,net		(2,781	)		3,868			(810	)		1,644
Net income for the period		22,627			51,469			6,574			26,856
Less: Net income attributable to non-controlling interest		(477	)		(2,124	)		(175	)		(805	)
Net income attributable to the Company		22,150			49,345			6,399			26,051
Basic and diluted earnings per share attributable to Company’s stockholders		1.05			2.35			0.30			1.24
Basic and diluted weighted average number of shares outstanding (in thousands)		21,112			20,982			21,041			21,010

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ITURAN LOCATION AND CONTROL LTD.

RECONCILIATION OF NON-GAAP RESULTS

	US dollars						US dollars
(in thousands	Nine months ended September 30,						Three months ended September 30,
except per share data)	2019			2018			2019			2018
GAAP Revenues:		213,841			174,170			68,995			53,376
Valuation adjustment on acquired deferred					-						-
revenue		2,989						985
Non –GAAP revenue		216,830			174,170			69,980			53,376
GAAP gross profit		100,026			89,277			31,878			28,893
Valuation adjustment on acquired deferred					-						-
revenue		3,209						985
Non –GAAP gross profit		103,235			89,277			32,863			28,893
GAAP operating income		39,015			44,050			11,900			13,719
Operation profit adjustments
Amortization of other intangible assets		6,354			310			1,803			310
Non-GAAP operating income		45,369			44,360			13,703			14,029
Depreciation and amortization		17,210			9,656			5,030			2,970
Adjusted EBITDA		60,179			54,016			18,733			16,999
GAAP net income attributable to the company's shareholders		22,150			49,345			6,399			26,051
Operation income adjustment		6,354			310			1,803			310
Other adjustments, net		(1,776	)		(13,833	)		(452	)		(13,833	)
Non-GAAP net income attributable to Iturans' shareholders		26,728			35,822			7,750			12,528

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ITURAN LOCATION AND CONTROL LTD.

Summary of NON –GAAP Financial Information

	US dollars				US dollars
(in thousands	Nine months ended September 30,				Three months ended September 30,
except per share data)	2019		2018		2019		2018
revenue		216,830		174,170		69,980		53,376
Gross profit		103,235		89,277		32,863		28,893
Operation income		45,369		44,360		13,703		14,029
Net income to shareholders		26,728		35,822		7,750		12,528
Adjusted EBITDA		60,179		54,016		18,733		16,999
Basic and diluted earnings per share		1.27		1.71		0.37		0.60

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ITURAN LOCATION AND CONTROL LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	US dollars						US dollars
	Nine month period ended September 30,						Three month period ended September 30,
(in thousands)	2019			2018			2019			2018
Cash flows from operating activities
Net income for the period		22,627			51,469			6,574			26,856
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		17,210			9,966			5,631			3,277
Interest and exchange rate differences on long term credit		23			-			(8	)		-
Operating lease right-of-use assets		2,255			-			219			-
Operating lease liabilities		(2,255	)		-			(219	)		-
Losses (gain) in respect of trading marketable securities		210			(321	)		208			20
Increase in liability for employee rights upon retirement		1,294			290			115			363
Share in losses (gains) of affiliated companies, net		2,781			(3,868	)		810			(1,644	)
Deferred income taxes		252			1,411			269			(408	)
Capital gains (losses) on sale of property and equipment, net		47			107			33			38
Capital gains on Acquisition of non-controlling interests		-			(14,677	)		-			(14,677	)
Decrease (increase) in accounts receivable		6,526			(2,131	)		1,968			3,623
Decrease in other current assets		1,115			(5,265	)		(1,199	)		(1,286	)
Decrease (increase) in inventories		3,618			(2,852	)		1,613			(2,867	)
Increase (decrease) in accounts payable		(3,559	)		191			(3,212	)		2,054
Increase (decrease) in deferred revenues		(7,090	)		(2,065	)		(947	)		(138	)
Increase (decrease) in other current liabilities		(3,341	)		2,465			(663	)		(389	)
Increase in obligation for purchase non-controlling interests		967			-			265			-
Net cash provided by operating activities		42,680			34,720			11,457			14,822
Cash flows from investment activities
Increase in funds in respect of employee rights upon retirement, net of withdrawals		(1,117	)		(372	)		(161	)		(525	)
Capital expenditures		(13,658	)		(15,311	)		(3,283	)		(5,329	)
Acquisitions of a subsidiary – Appendix A		-			(68,969	)		-			(68,969	)
Investments in affiliated companies		(55	)		(1,250	)		-			-
Investments in other companies		(129	)		(1,097	)		-			(200	)
Sale of (Invest in) marketable securities, net		1,454			1,428			-			(243	)
Deposit		(83	)		(175	)		69			30
Proceeds from loans to affiliated companies		-			7,317			-			4,055
Proceeds from sale of property and equipment		203			341			168			125
Net cash used in investment activities		(13,385	)		(78,088	)		(3,207	)		(71,056	)
Cash flows from financing activities
Short term credit from banking institutions, net		387			(34	)		998			(1	)
Receipt (repayment) of long-term credit from banking institutions		(4,436	)		81,695			(4,436	)		81,695
Dividend paid		(14,798	)		(15,097	)		(5,050	)		(5,030	)
Dividend paid to non-controlling interest		(1,557	)		(1,517	)		(748	)		(545	)
Acquisition of company shares purchased by a wholly owned subsidiary		(3,501	)		-			(3,501	)		-
Net cash provided by (used in) financing activities		(23,905	)		65,047			(12,737	)		76,119
Effect of exchange rate changes on cash and cash equivalents		(534	)		(2,842	)		(1,650	)		(248	)
Net increase (decrease) in cash and cash equivalents		4,856			18,837			(6,137	)		19,637
Balance of cash and cash equivalents at beginning of the period		51,398			36,906			62,391			36,106
Balance of cash and cash equivalents at end of the period		56,254			55,743			56,254			55,743

Supplementary information on financing and investing activities not involving cash flows:

In August 2019, the Company declared a dividend in an amount of US$ 5 million. The dividend was paid in October 2019.

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