-- Worldwide revenue up 58% for quarter
-- Adjusted EBITDA profit of EUR 7.2 million for the quarter
-- Expected revenues for 2005 approximately EUR 185 million due to continued growth in navigation sales
Tele Atlas, a worldwide leading provider of digital map data and location content, generated revenues of EUR 51.3 million in the second quarter of 2005 compared to EUR 32.4 million in the second quarter of 2004, an increase of 58%. Again the strong growth in the personal and in-car navigation segments were the main drivers behind the growth. European revenues for the quarter rose by 32% to EUR 37.0 million from EUR 28.0 million for the same period in 2004. North American revenues for the second quarter were EUR 14.3 million compared to EUR 4.4 million for the same period in 2004, primarily the result of the acquisition of Geographic Data Technologies Inc ("GDT") in July 2004.
Tele Atlas Group's overall operating result before capitalization, depreciation, amortization and employee stock option expense (Adjusted EBITDA(1) for the second quarter of 2005 improved to a profit of EUR 7.2 million, compared with a loss of EUR 1.3 million during the same period in 2004. EBITDA from European operations for the second quarter increased to EUR 8.9 million in 2005 from EUR 7.7 million in 2004 as a result of increased sales revenues. The Adjusted EBITDA loss in North America decreased to EUR 1.7 million in 2005 from a loss of EUR 9.0 million in 2004.
Net cash outflow from operating activities for the quarter was EUR 6.8 million compared to EUR 13.2 million in 2004. Items affecting cash flow were the improvement in Adjusted EBITDA and increased working capital for the second quarter of 2005.
The company expects the revenues for the second half of the year to be up at least 20% over the prior year. As a result Tele Atlas now expects revenue for 2005 to be approximately EUR 185 million versus its original expectation of EUR 160 million. The company also plans to increase its spending slightly from current levels during the second half of the year as a result of its retail program in North America and the aggressive roll out of mobile mapping in North America.
(1) In Tele Atlas' view, Adjusted EBITDA provides a better representation of the Company's results than operating income.
TELE ATLAS N.V. Reitscheweg 7F NL-5232 BX 's-Hertogenbosch Netherlands ISIN: NL0000233948 WKN: 927101 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Dusseldorf, Hamburg, Hannover, Munchen und Stuttgart
Tele Atlas N.V. Investor Relations: Jasper Vredegoor, +31 (73) 6402175 Email Contact