TomTom Reports Second Quarter 2016 Results

The effects of non-recurring items, such as goodwill impairments (if any) are excluded from management’s measurement basis. Interest income and expenses, and tax are not allocated to segments. A reconciliation of the segments’ performance measure (EBIT) to the group’s result before tax is presented below.

(in € millions)  

H1 '16

Unaudited

 

H1 '15

Unaudited

 
           
Total segment EBIT   12.0   -0.7  
Unallocated expenses   -3.6   -3.8  
Interest result   -0.7   -0.4  
Other finance result   0.5   -2.3  
Result associates   0.5   0.2  
Result before tax   8.7   -7.0  
           

Measures of (non-current) assets and/or liabilities are not provided internally to the chief operating decision maker and hence, no measure of segment assets and/or liabilities is reported.

4. Earnings per share

The calculation of basic and diluted earnings per share is based on the following data:

   

H1 '16

Unaudited

 

H1 '15

Unaudited

 
           
Earnings (in € thousands)          
Earnings (net result attributable to equity holders)   16,858   -4,514  
           
Number of shares (in thousands)          
Weighted average number of ordinary shares for basic EPS   230,902   225,843  
           
Effect of dilutive potential ordinary shares (in thousands)          
Share options and restricted stocks   3,785   4,564  
Weighted average number of ordinary shares for diluted EPS   234,687   230,407  
           

5. Goodwill

Goodwill is allocated to operating segments identified according to the core business activities as monitored by management. Within TomTom we have identified four operating segments being Consumer, Automotive, Licensing and Telematics. The recoverable amount of an operating segment is based on the higher of “value in use” or “fair value less cost of disposal” calculations. The “fair value less cost to disposal” resulted in a higher recoverable amount.

In H1 '16 no impairment charge has been recorded (H1 '15: nil). We recorded a €2.5 million adjustment on goodwill in H1 ’16 as the result of an adjustment to the preliminary purchase price allocation related to the Finder acquisition we did in December 2015.

6. Shareholders’ equity

    30 June 2016  

30 June 2016

(in € thousands)

Unaudited

  31 Dec 2015  

31 Dec 2015

(in € thousands)

Audited

 
                   
Ordinary shares   600,000,000   120,000   600,000,000   120,000  
Preferred shares   300,000,000   60,000   300,000,000   60,000  
Total authorised   900,000,000   180,000   900,000,000   180,000  
                   

Issued and fully paid
ordinary shares

  232,271,086   46,454   230,495,981   46,099  
                   

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