TomTom Reports First Quarter 2015 Results

Change percentages are based on non-rounded figures

Total Consumer revenue for the quarter was €122 million, a decline of 3% compared to the same quarter last year (Q1 '14: €125 million). The year on year decline was mainly driven by lower PND and related content & services revenue, partly offset by strong growth in sport revenue. Automotive hardware revenue was €21 million in the quarter (Q1 '14: €20 million). The slight year on year increase was driven by changes in the product mix.

In the quarter we saw a unit decline of 8% in the European PND market, whilst the North American market declined by 17%. Our market share in Europe remained broadly flat whilst we continued to strengthen our ASP. We saw market share improvements towards the end of the quarter in both regions.

Within our drive business, we launched our new TomTom RIDER specifically developed for motorcyclists. We continued to see strong growth in our sport business. We added Nike+ to the list of platforms available to TomTom GPS sport watch users, enabling them to track their progress, and share their performance with the Nike+ community. We also continued to expand the number of retail doors across the world.

Automotive

Our Automotive business generated revenue of €24 million in the quarter, compared to €29 million in Q1 '14. This decline is mainly due to the phasing out of certain contracts.

In the quarter, we announced an agreement to deliver maps to Volkswagen in North America. Volkswagen will launch in-dash navigation systems with TomTom maps in its new multimedia system, which will be introduced across multiple car lines, including the Jetta, Passat and Beetle. We also continued to expand our position as a premium connected traffic service provider in the automotive market. In the quarter, we announced that we will deliver our real-time traffic service to Volkswagen, Hyundai, and Kia in Europe.

We extended our global partnership with Fiat to deliver maps and navigation in the Uconnect™ infotainment systems in Latin America. We also announced a new deal with South Korea's SsangYong Motor Company. Our maps and navigation software will be included in the all-new Tivoli model throughout Europe beginning in May 2015.

Licensing

Our Licensing revenue was €29 million in Q1 '15, 12% higher compared to the same quarter last year (Q1 '14: €26 million). The year on year increase was mainly caused by higher traffic revenue and to a lesser extent by FX.

Telematics

                   
(€ in millions, unless stated otherwise)     Q1 '15     Q1 '14     y.o.y. change
                   
Hardware and other services revenue 1     8.5     8.0     6%
Subscription revenue     22.6     17.1     32%
Total Telematics revenue     31.1     25.1     24%
                   
Monthly subscription ARPU (€) 15.8 16.7 -5%
Subscriber installed base (‘000s)     482     348     39%

Change percentages are based on non-rounded figures


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