TomTom reports fourth quarter and full year 2014 results

Change percentages are based on non-rounded figures.

Our Licensing revenue in Q4 '14 was €32 million, 1% higher compared to the same quarter last year (Q4 '13: €31 million). On a full year basis, Licensing reported total revenue of €112 million, a 4% decline compared to €116 million in 2013. This decline mainly resulted from the phasing out of a major contract in the first half of 2013.

In the fourth quarter, we announced a multi-year deal with Acer to bring TomTom turn-by-turn navigation technology to new Acer smartphones with the launch of a new navigation application called “AcerNAV”. The app enables users to navigate anywhere in the world, without extra roaming charges, with the ability to download any TomTom map for free. We also announced a partnership with Intel and Opening Ceremony to power the MICA, “My Intelligent Communication Accessory” bracelets with location-based services and real-time location information. The real-time location feature provides real-time location information such as estimated time of arrivals to precise locations.

6 Sold in Europe beginning in 2015.

Telematics

                         
(€ in millions, unless stated otherwise)   Q4 '14   Q4 '13   y.o.y. change   FY '14   FY '13   y.o.y. change
                         
Hardware revenue   9.7   8.4   15%   34.6   28.3   22%
Subscription revenue   21.4   15.7   36%   75.6   56.3   34%
Total Telematics revenue   31.1   24.1   29%   110.2   84.6   30%
                         
Telematics segment EBITDA               39.1   28.3   38%
EBITDA margin (%)               35%   33%    
Telematics segment EBIT               33.8   26.0   30%
EBIT margin (%)               31%   31%    
                         
Monthly WEBFLEET ARPU (€)   16.3   16.2   1%   16.2   16.7   -3%
WEBFLEET subscriber installed base (#)               464,000   330,000   41%

Change percentages are based on non-rounded figures.

Our fleet management business saw another quarter of strong growth, and reported revenue of €31 million in Q4 '14, a 29% increase compared to €24 million in Q4 '13. This increase was driven by the strong growth in the WEBFLEET subscriber base and by higher hardware revenue, driven by the launch of our new PRO range driver terminals earlier this year. The recurring SaaS revenue amounted €21 million for the quarter, 36% higher compared to the same quarter last year. Revenue for 2014 was €110 million, which represents a 30% growth year on year (FY '13: €85 million).

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