TomTom Reports Third Quarter 2014 Results

AMSTERDAM — (BUSINESS WIRE) — October 28, 2014

Financial summary Q3 '14

  • Revenue of €235 million (Q3 '13: €244 million)
  • Gross margin of 57% (Q3 '13: 56%)
  • EBIT of €8 million (Q3 '13: €14 million)
  • Adjusted1 EPS of €0.07 (Q3 '13: €0.10)
  • Net cash position of €104 million (Q3 '13: €52 million)

Operational summary Q3 '14

  • New entry-level START range of PNDs introduced
  • TomTom Golfer GPS watch launched
  • Partnership with Volkswagen Group Research for the development of Highly Automated Driving (HAD) systems
  • Partnership with Bosch SoftTec to deliver Advanced Driver Assistance Systems (ADAS)
  • Multinet-R map format launched, the first commercial product release from our new map-making platform
  • Location-based services product portfolio extended with online turn-by-turn navigation
  • Telematics installed base increased to 414,000

Outlook 2014

  • Full year outlook for revenue updated; revenue now expected of between €930 million and €950 million. Outlook for adjusted1 EPS of at least €0.25 is unchanged

Key figures2

(€ in millions)   Q3 '14   Q3 '13  

y.o.y.

change

  YTD '14   YTD '13  

y.o.y.

change

                         
Consumer   153   170   -10%   447   465   -4%
Automotive 26 26 1% 86 85 1%
Licensing 27 27 0% 80 85 -6%
Telematics   28   21   34%   79   60   31%
REVENUE   235   244   -4%   692   696   -1%
                         
GROSS RESULT 133 137 -3% 390 378 3%
Gross margin   57%   56%       56%   54%    
                         
EBITDA 41 41 0% 108 110 -2%
EBITDA margin   17%   17%       16%   16%    
                         
EBIT 8 14 -42% 20 21 -8%
EBIT margin   3%   6%       3%   3%    
                         
NET RESULT   6   11   -49%   22   17   32%
                         
EPS, € diluted 0.03 0.05 -49% 0.10 0.07 35%
Adjusted 1 EPS, € diluted   0.07   0.10   -32%   0.23   0.20   13%

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