TomTom NV
TomTom reports second quarter 2017 results
Amsterdam, the Netherlands, 19 July 2017 7.15 AM
Financial summary Q2 '17
Revenue of €253 million (Q2 '16: €265 million)
Gross margin of 63% (Q2 '16: 55%)
EBITDA of €45 million (Q2 '16: €44 million)
Non-cash impairment charge on the entire goodwill of the Consumer segment of €169 million
Net result of -€160 million (Q2 '16: €12 million)
Adjusted EPS1 of €0.09 (Q2 '16: €0.10)
Net cash position of €82 million (Q2 '16: €58 million)
Operational summary Q2 '17
TomTom High Definition (HD) map coverage expanded to all motorways in Western Europe
TomTom Traffic service expanded to 64 countries from 54 countries
TomTom and Baidu have joined forces to develop global HD maps
Collaboration with Bosch announced to create first radar localisation map layer
Telematics passes milestone of 750,000 subscribed vehicles
New share buy-back program
TomTom intends to repurchase ordinary TomTom shares for an amount up to €50 million, representing 2.5% of total issued share capital.2
Outlook 2017
Full year revenue outlook updated; we now expect to deliver full year revenue around the lower end of our guidance of between €925 million and €950 million.
Outlook for adjusted EPS1 of around €0.25 is unchanged.
Key figures
Tomtom
Change percentages and totals calculated before rounding.
This report includes the following non-GAAP measures: gross margin, EBIT (margin), EBITDA (margin), adjusted net result, adjusted EPS and net cash, which are further explained on page 21 of this report.
1 Earnings per fully diluted share count adjusted for acquisition-related expenses & gains and material restructuring costs on a post-tax basis.
2 Based on the closing price of TomTom (TOM2) share on Euronext Amsterdam on 18 July 2017 of €8.72.
TomTom's Chief Executive Officer, Harold Goddijn
“Our strategy is to build on our navigation technologies to provide location-based content, software, and services to business customers, with high margins and recurring income. Combined Automotive, Licensing and Telematics revenue grew by 18% year on year in the quarter, ahead of expectations.”
View the full TomTom reports second quarter 2017 results release in the attached PDF.
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TomTom NV
De Ruyterkade 154 , 1011AC Amsterdam, Netherlands
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