TomTom Reports Fourth Quarter and Full Year 2017 Results

AMSTERDAM — (BUSINESS WIRE) — February 5, 2018 — TomTom (AEX:TOM2):

Financial summary Q4 '17

  • Revenue of €220 million (Q4 '16: €266 million)
  • Gross margin of 59% (Q4 '16: 58%)
  • EBITDA of €37 million (Q4 '16: €39 million)
  • Cash flow from operating activities of €98 million (Q4 '16: €76 million)

Financial summary FY '17

  • Revenue of €903 million (FY '16: €987 million)
  • Gross margin of 62% (FY '16: 57%)
  • EBITDA of €141 million (FY '16: €141 million)
  • Non-cash impairment charge on the entire goodwill of the Consumer segment of €169 million
  • Adjusted EPS1 of €0.26 (FY '16: €0.23)
  • Cash flow from operating activities of €173 million (FY '16: €144 million)
  • Deferred revenue position of €244 million (Q4 '16: €204 million)

Operational summary

  • Automotive order intake exceeded €400 million in 2017
  • Strategic mapping and traffic services cooperation with ZENRIN in Japan
  • HD Map & AutoStream to power Baidu's open autonomous driving platform, Apollo
  • Online APIs integrated in Microsoft Azure's newly launched location-based services
  • Telematics installed base increased by 16% in the year, reaching more than 800,000 subscriptions
 

Key figures

(€ in millions, unless stated otherwise)     Q4 '17   Q4 '16  

y.o.y.

change

    FY '17   FY '16  

y.o.y.

change

                             
Automotive & Enterprise 2     86.6   71.7   21%     328.8   269.0   22%
Telematics 42.0 41.6 1% 162.1 155.1 4%
Consumer     91.0   152.3   -40%     412.5   563.2   -27%
REVENUE     219.6   265.6   -17%     903.4   987.3   -9%
                             
GROSS RESULT 130.6 153.0 -15%

564.0

566.2
Gross margin     59%   58%         62%   57%    
                             
EBITDA 36.8 38.6 -5% 141.2 140.9
EBITDA margin     17%   15%         16%   14%    
                             
OPERATING RESULT (EBIT) -29.5 -0.5 -199.8 8.9
EBIT margin     -13%   0%         -22%   1%    
                             
NET RESULT -34.5 -5.6 -204.4 12.0
ADJUSTED NET RESULT     14.3   11.3   28%     61.3   54.1   13%
                             
EPS, € fully diluted -0.15 -0.02 -0.87 0.05
Adjusted EPS 1 , € fully diluted     0.06   0.05   28%     0.26   0.23   12%  

Change percentages and totals calculated before rounding.

_________________

1 Earnings per fully diluted share count adjusted for acquisition-related expenses & gains, impairments and material restructuring and disposal costs on a post-tax basis.
2 As of the start of 2018, we have changed the name of our Licensing segment to Enterprise as it better reflects the nature of activities, customers and target markets.
 

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