TomTom Reports Second Quarter 2016 Results

We have assessed the risks for the second half year of 2016 and believe that the risk categories and risk factors identified are in line with those presented in the 2015 Annual Report. Those are deemed incorporated and repeated in this report by reference.

Other risks not known to us, or currently regarded not to be material, could later turn out to have a negative material impact on our business, objectives, revenues, income, assets, liquidity or capital resources.

Responsibility statement

With reference to the statement within the meaning of article 5:25d (2c) of the Financial Supervision Act, the Management Board hereby declares that, to the best of their knowledge:

  • the interim financial statements prepared in accordance with IAS 34, “Interim Financial Reporting”, give a true and fair view of the assets, liabilities, financial position, profit or loss of the company and the undertakings included in the consolidation taken as a whole; and
  • the interim Management Board report gives a fair review of the information required pursuant to section 5:25d(8)/(9) of the Financial Supervision Act.

Amsterdam, 19 July 2016

The Management Board
Harold Goddijn / Chief Executive Officer
Taco Titulaer / Chief Financial Officer
Alain De Taeye / Member of the Management Board

Consolidated condensed statement of income

(€ in thousands)  

Q2 '16
Unaudited

 

Q2 '15
Unaudited

 

H1 '16
Unaudited

 

H1 '15
Unaudited

 
                   
Revenue   265,225   264,613   482,380   469,888  
Cost of sales   119,967   129,993   213,817   225,396  
Gross result   145,258   134,620   268,563   244,492  
                   
Research and development expenses   45,675   52,071   90,208   95,361  
Amortisation of technology and databases   21,107   18,644   41,733   37,166  
Marketing expenses   21,545   25,297   36,603   35,045  
Selling, general and administrative expenses   44,179   38,029   91,580   81,410  
Total operating expenses   132,506   134,041   260,124   248,982  
                   
Operating result   12,752   579   8,439   -4,490  
                   
Interest result   -377   -223   -682   -427  
Other financial result   -1,233   301   478   -2,273  
Result of associates   134   116   461   213  
Result before tax   11,276   773   8,696   -6,977  
                   
Income tax gain   911   1,762   8,257   2,607  
Net result   12,187   2,535   16,953   -4,370  
                   
Net result attributable to:                  
Equity holders of the parent   12,066   2,631   16,858   -4,514  
Non-controlling interests   121   -96   95   144  
Net result   12,187   2,535   16,953   -4,370  
                   
Basic number of shares (in thousands)   231,193   227,240   230,902   225,843  
Diluted number of shares (in thousands)   234,522   234,547   234,687   230,407  
                   
EPS, € basic   0.05   0.01   0.07   -0.02  
EPS, € diluted   0.05   0.01   0.07   -0.02  
                   

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