TomTom Reports First Quarter 2015 Results

AMSTERDAM — (BUSINESS WIRE) — April 20, 2015Financial summary Q1 '15

  • Group revenue of €205 million (Q1 '14: €205 million)
  • Gross margin of 54% (Q1 '14: 57%)
  • EBITDA of €21 million (Q1 '14: €30 million)
  • Adjusted EPS1 of €0.01 (Q1 '14: €0.08, of which €0.04 related to a one-off tax gain)
  • Net cash position of €77 million (Q1 '14: €44 million)

Operational summary Q1 '15

  • Consumer launched the new TomTom RIDER for motorcyclists
  • Volkswagen selects TomTom Maps in North America and TomTom Traffic in Europe
  • TomTom to deliver LIVE Services to Hyundai and Kia in Europe
  • Global partnership with Fiat extended to deliver maps and navigation in the Uconnect™ infotainment system in Latin America
  • Telematics increased its installed base by 39% and recurring subscription revenue by 32% year on year

Outlook 2015

  • Full year outlook re-iterated; Revenue expected of around €1 billion and adjusted EPS1 expected of around €0.20.

Key figures

                   
(€ in millions)     Q1 '15     Q1 '14     y.o.y. change
                   
Consumer     121.6     125.1     -3%
Automotive 23.6 29.2 -19%
Licensing 29.0 26.0 12%
Telematics     31.1     25.1     24%
REVENUE     205.3     205.4     0%
                   
GROSS RESULT 109.9 117.3 -6%
Gross margin     54%     57%      
                   
EBITDA 21.4 29.7 -28%
EBITDA margin     10%     14%      
                   
OPERATING RESULT (EBIT) -5.1 1.5
EBIT margin     -2%     1%      
                   
NET RESULT -6.9 7.6
ADJUSTED NET RESULT     2.4     17.4     -86%
                   
EPS, € fully diluted -0.03 0.03
Adjusted EPS 1 , € fully diluted     0.01     0.08     -87%

 

Change percentages are based on non-rounded figures


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