TomTom reports third quarter 2016 results

AMSTERDAM — (BUSINESS WIRE) — October 20, 2016Financial summary Q3 '16

  • Revenue of €239 million (Q3 '15: €254 million)
  • Gross margin of 60% (Q3 '15: 53%)
  • EBITDA of €33 million (Q3 '15: €33 million)
  • Adjusted EPS1 of €0.05 (Q3 '15: €0.05)
  • Net cash position of €81 million (Q3 '15: €94 million)

Operational summary Q3 '16

  • PND market weaker than expected; Consumer continued to diversify into a multi-product business with the launch of several new products, including its first fitness activity tracker, the new GPS Outdoor Watch and the world’s first PND for scooters
  • Subaru's new infotainment platform powered by TomTom maps and navigation software
  • Volvo Trucks selected TomTom Maps, Traffic and Navigation software for its new infotainment system
  • Traffic service launched in India and Bulgaria; now available in 52 countries
  • NVIDIA Partnership announced to develop a cloud-to-car mapping system for self-driving cars
  • Telematics recognised by Berg Insight as Europe's leading and most innovative provider of fleet management solutions (for second year running)

Outlook 2016 updated

As previously announced on 13 October 2016, we are updating our guidance.

We now expect full year group revenue of around €980 million, down from previous guidance of around €1,050 million. Outlook for adjusted EPS1 of around €0.23 is unchanged.

Key figures

                         
(€ in millions, unless stated otherwise)   Q3 '16   Q3 '15   y.o.y. change   YTD '16   YTD '15   y.o.y. change
                         
Consumer   137.1   161.2   -15%   410.9   447.7   -8%
Automotive 31.3 26.0 21% 95.9 75.6 27%
Licensing 34.4 35.2 -2% 101.3 102.8 -1%
Telematics   36.5   31.8   15%   113.6   98.0   16%
REVENUE   239.3   254.2   -6%   721.7   724.1   0%
                         
GROSS RESULT 144.6 135.1 7% 413.2 379.6 9%
Gross margin   60%   53%       57%   52%    
                         
EBITDA 33.1 32.7 1% 102.3 82.0 25%
EBITDA margin   14%   13%       14%   11%    
                         
OPERATING RESULT (EBIT) 1.0 4.9 -80% 9.4 0.4
EBIT margin   0%   2%       1%   0%    
                         
NET RESULT 0.6 1.7 -67% 17.5 -2.6
ADJUSTED NET RESULT   11.7   11.6   1%   42.8   26.5   61%
                         
EPS, € fully diluted 0.00 0.01 -67% 0.07 -0.01
Adjusted EPS 1 , € fully diluted   0.05   0.05   1%   0.18   0.11   59%

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