TomTom Reports First Quarter 2014 Results

AMSTERDAM — (BUSINESS WIRE) — April 28, 2014

Financial summary Q1 '14

  • Revenue of €205 million (Q1 '13: €202 million)
  • Gross margin of 57% (Q1 '13: 56%)
  • EBIT of €2 million (Q1 '13: €0 million)
  • Adjusted1 EPS of €0.08, of which €0.04 relates to one-off tax gain (Q1 '13: €0.03)
  • Net cash of €44 million

Operational summary Q1 '14

  • TomTom Cardio GPS sports watch with integrated heart rate monitor launched
  • TomTom BRIDGE, a programmable driver terminal for B2B customers, announced
  • Latest generation of PNDs introduced in North America
  • TomTom maps and navigation software extended into the new Alfa Romeo MiTo MY 2014 range and the entire Fiat 500L family
  • TomTom Traffic made available in China, Taiwan and Singapore
  • The LINK200, an entry-level track and trace device launched

Outlook 2014

  • Full year outlook updated; revenue now expected of at least €900 million and adjusted1 EPS of around €0.25

Key figures2

(€ in millions)       Q1 '14       Q1 '13       y.o.y. change
                         
Consumer       125       124       1%
Automotive 29 29 1%
Licensing 26 30 -12%
Telematics       25       19       29%
REVENUE       205       202       2%
                         
GROSS RESULT 117 112 4%
Gross margin       57%       56%        
                         
EBITDA 30 29 3%
EBITDA margin       14%       14%        
                         
EBIT 2 0
EBIT margin       1%       0%        
                         
NET RESULT       8       -2        
                         
EPS, € diluted 0.03 -0.01
Adjusted 1 EPS, € diluted       0.08       0.03       118%

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