Financial headlines
Group revenue of €274 million, down 19% year on year
Gross margin of 55%, up 4 percentage points year on year
Total operating expenses of €118 million, down 10% year on year
EBIT margin 12%, flat year on year
Adjusted EPS of €0.14 compared to €0.18 in the prior year
Net cash flow from operating activities of €50 million; €70 million in the prior year
Net debt reduced to €153 million compared to €194 million at the start of the year
Operational headlines

Global content, software and services agreement with PSA Peugeot Citroën
Mazda and Fiat relationships expanded with Mazda6 and Abarth models
Navigation app for Android smartphones launched
Growth of WEBFLEET subscriber base to 223,000, up 39% year on year
Outlook full year 2012

Revised revenue guidance of around €1.05 billion reflecting the impact of the macro-economic conditions in Europe on the automotive industry; guidance for adjusted EPS of around €0.35 maintained

Key figures
(in € millions) Q3 '12 Q3 ‘112
y.o.y. change Q2 ‘12 q.o.q. change
Revenue 274 336 -19% 262 5%
Gross result 150 173 -13% 136 10%
Gross margin 55% 51% 52%
EBITDA 58 68 -15% 41 42%
EBITDA margin 21% 20% 16%
EBIT 32 41 -22% 14 128%
EBIT margin 12% 12% 5%
Net result attributable to the group 22 29 -23% 9 151%
EPS, € diluted 0.10 0.13 -23% 0.04 151%
Adjusted EPS, € diluted 0.14 0.18 -22% 0.09 65%
Change percentages are based on non-rounded figures

TomTom’s Chief Executive Officer, Harold Goddijn
“The PND market developments have become more predictable. The year over year decline of our core markets combined has been in line with previously communicated expectations and sales prices are stabilising. The European economic situation is having a significant impact on the automotive industry. We expect our Automotive revenue to remain under pressure in the coming quarters. As a result we lower our group revenue guidance for the year from around €1.10 billion to around €1.05 billion. We continue to deliver a strong gross margin and the reduction of our cost base is ahead of schedule. We therefore maintain our adjusted EPS guidance for the year of around €0.35.”

1 Earnings per share adjusted for impairment, acquisition-related amortisation and restructuring charges on a posttax
basis.
2 Operating expenses in Q3 2011 include restructuring charges of €0.4 million.