TomTom Reports Second Quarter 2017 Results

AMSTERDAM — (BUSINESS WIRE) — July 18, 2017 — TomTom (AEX:TOM2)

Financial summary Q2 '17

  • Revenue of €253 million (Q2 '16: €265 million)
  • Gross margin of 63% (Q2 '16: 55%)
  • EBITDA of €45 million (Q2 '16: €44 million)
  • Non-cash impairment charge on the entire goodwill of the Consumer segment of €169 million
  • Net result of -€160 million (Q2 '16: €12 million)
  • Adjusted EPS1 of €0.09 (Q2 '16: €0.10)
  • Net cash position of €82 million (Q2 '16: €58 million)

Operational summary Q2 '17

  • TomTom High Definition (HD) map coverage expanded to all motorways in Western Europe
  • TomTom Traffic service expanded to 64 countries from 54 countries
  • TomTom and Baidu have joined forces to develop global HD maps
  • Collaboration with Bosch announced to create first radar localisation map layer
  • Telematics passes milestone of 750,000 subscribed vehicles

New share buy-back program

TomTom intends to repurchase ordinary TomTom shares for an amount up to €50 million, representing 2.5% of total issued share capital.2

Outlook 2017

Full year revenue outlook updated; we now expect to deliver full year revenue around the lower end of our guidance of between €925 million and €950 million.

Outlook for adjusted EPS1 of around €0.25 is unchanged.

Key figures

(€ in millions, unless stated
otherwise)

  Q2 '17   Q2 '16  

y.o.y.
change

  H1 '17   H1 '16  

y.o.y.
change

                         
Automotive & Licensing   87.0   68.1   28%   161.1   131.5   23%
Telematics 40.1 39.9 0% 80.7 77.0 5%
Consumer   126.3   157.2   -20%   224.3   273.9   -18%
REVENUE   253.4   265.2   -4%   466.2   482.4   -3%
                         
GROSS RESULT 160.6 145.3 11% 293.0 268.6 9%
Gross margin   63%   55%       63%   56%    
                         
EBITDA 45.2 43.7 4% 73.2 69.3 6%
EBITDA margin   18%   16%       16%   14%    
                         
OPERATING RESULT (EBIT) -159.5 12.8 -164.4 8.4
EBIT margin   -63%   5%       -35%   2%    
                         
NET RESULT -160.1 12.2 -164.6 17.0
ADJUSTED NET RESULT   21.0   23.2   -10%   28.0   30.7   -9%
                         
EPS, € fully diluted -0.68 0.05 -0.70 0.07

Adjusted EPS 1 , € fully diluted

  0.09   0.10   -11%   0.12   0.13   -10%

Change percentages and totals calculated before rounding.


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