TomTom Launches its World-Class Traffic Service in Greece, Hungary and Slovakia.TomTom reports fourth quarter and FY 2014 results

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Algemeen advies 12/02/2015 07:58
- TomTom reports fourth quarter and FY 2014 results

Financial summary Q4 '14

Group revenue of €258 million (Q4 '13: €268 million)
Gross margin of 51% (Q4 '13: 54%)
EBIT margin of 1% (Q4 '13: 2%)
Cash flow from operating activities of €32 million (Q4 '13: €51 million)
Financial summary FY '14

Group revenue of €950 million (FY '13: €963 million)
Gross margin of 55% (FY '13: 54%)
EBIT margin of 2% (FY '13: 3%)
Adjusted EPS1 of €0.27 (FY '13: €0.26)
Cash flow from operating activities of €119 million (FY '13: €180 million2 )
Net cash position of €103 million (Q4 '13: €83 million)
Operational summary Q4 '14

Consumer shipped 500,000 GPS sport watches in the year
Partnership with Fiat extended to deliver LIVE services and connected navigation in the Uconnect™ infotainment systems in the new Fiat 500X
TomTom Traffic launched in South East Asia, the Middle East and Latin America
Acer smartphones equipped with TomTom turn-by-turn navigation technology
Telematics completed the acquisition of Fleetlogic, strengthening its leading position in Europe
Outlook 2015

Revenue grows to around €1 billion
Adjusted EPS1 of around €0.20
Key figures


1Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis.
2€180 million excludes a €80 million one-off tax gain received from the Dutch tax authorities.
3Segment revenue breakdown reflects TomTom's new reporting structure as announced on 28 March 2014.
4Net result adjusted for acquisition-related amortisation & gain on a post-tax basis.

TomTom's Chief Executive Officer, Harold Goddijn

"2014 was a good year for TomTom. We made substantial progress in developing our core technologies across the group, achieving important milestones and positioning TomTom for growth.

With the introduction of our own branded GPS sport watches we made a successful step into the sport market. We will continue to bring innovative new Consumer products to the market. Our Automotive bookings exceeded €220 million this year, which together with orders secured earlier will deliver growth in our Automotive business from 2016 onwards. Our Telematics business continued to grow strongly, fuelled by a combination of organic growth and acquisitions.

The progress we made over the past two years gives us confidence for the future and we are committed to deliver top line growth in 2015.

We expect to have fully replaced our map-making system with a transaction-based platform that will enable near real-time maps, in the second half of 2015. With this technological innovation, TomTom is well positioned to address the need for accurate and up-to-date maps, for navigation applications and driver assistance applications, including Highly Automated Driving."



Amsterdam, 12 February, 2015- TomTom (TOM2) today extends its reach in Central and Eastern Europe with the launch of TomTom Traffic in Greece, Hungary and Slovakia. Now, 46 countries around the world have access to world-class traffic information from TomTom.

"Traffic congestion is an issue for many countries around the world, including Greece, Hungary and Slovakia," said Ralf-Peter Schäfer, Head of Traffic at TomTom. "The launch of TomTom Traffic gives drivers, the automotive industry and governments a concrete way to tackle traffic congestion in their market. Our aim is to be the preferred provider of traffic services in every market we operate in."

Traffic congestion levels in Greece are among the highest in Europe. In the Greek capital of Athens, an average commute takes 30 minutes longer during rush hour, according to TomTom Traffic data. In Budapest, commuting by car adds a 26 minute delay during rush hour.

The car industry in Slovakia grew in 2014 with an estimated 970,000 cars manufactured.* Volkswagen, Kia and Peugeot manufacture cars in Slovakia, making it one of the world's leading markets for car production per capita.

Volkswagen Group Chooses TomTom Traffic
Amsterdam, 12 February 2015 – TomTom (TOM2) today announced a multi-year agreement with Volkswagen Group, one of the world’s leading automobile manufacturers and the largest car maker in Europe, to bring its traffic service to Volkswagen Group cars across Europe, beginning with Audi and Volkswagen.
TomTom is a global leader in traffic information, with one of the most extensive bases of real-time GPS probes in the world, detecting the actual traffic situation on all roads. Recent industry benchmarks and awards prove that TomTom Traffic covers more jams with fewer false alerts than its competitors, giving drivers a clearer picture of traffic conditions on every journey.

Volkswagen and Audi drivers will now benefit from the most accurate TomTom service available on the market with over 100 million kilometers of roads covered. Navigation systems can propose reliable alternative routes, saving drivers hours of travel time annually, while actively reducing fuel consumption.
"We’re delighted to announce this important partnership with Volkswagen Group, one of the world’s premier car manufacturers, strengthening our global market leadership as the trusted provider of navigation technology”, said Harold Goddijn, CEO of TomTom. “TomTom invented and developed traffic information and efficient routing as we know it today. Large scale adoption and on-going development will continue to contribute to reduced traffic congestion and CO2 emissions, as well as enhanced safety on the road in the future.”




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