TomTom, second quarter and first half 2018 results

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Algemeen advies 17/07/2018 07:48
FINANCIAL AND OPERATIONAL HIGHLIGHTS
Financial summary Q2 '18

Revenue of €231 million (Q2 '17: €253 million)
Gross margin of 72% (Q2 '17: 64%)
EBITDA of €63 million (Q2 '17: €50 million)
Adjusted EPS1 €0.05 (Q2 '17: €0.03)
Net cash position of €155 million (Q2 '17: €82 million)
Deferred revenue position of €277 million (Q2 '17: €240 million)
Operational summary Q2 '18

TomTom EV Service wins TU-Automotive Award and the CLEPA Innovation Award
Microsoft’s Azure Maps, powered by TomTom, are now offered for general availability
Telematics recognised by Frost & Sullivan as Europe’s Fleet Telematics company of the year

Key figures
(€ in millions, unless stated otherwise)
Q2 '18 Q2 '17 y.o.y. change H1 '18 H1 '17 y.o.y. change
Automotive & Enterprise 92.6 87.5 6% 172.4 165.0 4%
Telematics 43.9 41.0 7% 86.7 80.9 7%
Consumer 94.9 124.6 -24% 164.1 220.2 -25%
REVENUE 231.4 253.0 -9% 423.2 466.0 -9%
GROSS RESULT 165.6 162.6 2% 299.1 296.1 1%
Gross margin 72% 64% 71% 64%
EBITDA 63.4 50.4 26% 107.6 84.4 28%
EBITDA margin 27% 20% 25% 18%
OPERATING RESULT (EBIT) 24.9 -154.5 31.8 -156.0
Operating margin 11% -61% 8% -33%
NET RESULT 19.8 -156.4 26.2 -158.5
ADJUSTED NET RESULT 11.7 7.0 67% 34.3 0.2
EPS, € fully diluted 0.09 -0.67 0.11 -0.68
Adjusted EPS1, € fully diluted 0.05 0.03 70% 0.15 0.00
Change percentages and totals calculated before rounding.
This report includes the following non-GAAP measures: Automotive operational revenue, gross margin, EBIT (margin), EBITDA (margin), adjusted net result, adjusted EPS and net cash, which are further explained on page 27 of this report. Comparative figures have been restated to reflect the adoption of new accounting standards. Refer to page 15 of this report.


1 Earnings per fully diluted share count adjusted for movement of deferred revenue, unbilled revenue, deferred cost of sales, impairments and material restructuring and disposal costs on a post-tax basis.



TOMTOM'S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN

“Our positive start to 2018 carried through in the second quarter of the year. Automotive continued to grow strongly and our gross margin further strengthened, resulting in year on year gross profit growth.

Our map production system has been reinforced through automated multi-source map fusion and machine learning, allowing for faster cycle times and lower operational costs. We are also happy to announce that Microsoft’s Azure Maps, powered by TomTom, are now offered for general availability.”

OUTLOOK 2018

We are increasing our guidance for the year.

Due to higher demand from our Automotive customers, we now expect to deliver full year revenue of around €825 million. Previous full year revenue guidance was around €800 million.

We expect our operational expenditure to show a modest decline compared to 2017, excluding impairment and restructuring.

The above effects will increase the adjusted EPS to at least €0.30.


OUTLOOK 2018
We are increasing our guidance for the year.
Due to higher demand from our Automotive customers, we now expect to deliver full year revenue of around €825 million. Previous full year revenue guidance was around €800 million.
We expect our operational expenditure to show a modest decline compared to 2017, excluding impairment and restructuring.
The above effects will increase the adjusted EPS to at least €0.30.
Outlook full year 2018
Updated
Previous
Revenue
~ €825 million
~ €800 million
Gross margin
At least 70%
Close to 70%
OPEX
~ €550 million
~ €550 million
Adjusted EPS
At least €0.30
~ €0.25
FINANCIAL AND BUSINESS REVIEW
Revenue for the second quarter amounted to €231 million, 9% lower compared with the same quarter last year (Q2 '17: €253 million). Automotive showed strong year on year revenue growth of 28% while Telematics grew by 7% year on year. Enterprise revenues declined, partly due to a one-off catch up recorded in the same quarter last year. Consumer revenues declined, yet the cash generation of Consumer was strong. Gross margin increased to 72% (Q2 '17: 64%). The net result adjusted for movement of deferred revenue, unbilled revenue and deferred cost of sales on a post-tax basis was a gain of €12 million, which translates to an adjusted EPS of €0.05 (Q2 '17: €0.03).

see and read more on
http://corporate.tomtom.com/releases.cfm

Derk Haank to succeed Peter Wakkie as Chairman of the Supervisory Board as of the 2019 Annual General Meeting
Amsterdam, the Netherlands, 17 July 2018 TomTom (TOM2) today announced that Derk Haank will be nominated for appointment to the Supervisory Board. The appointment will be proposed at an Extraordinary General Meeting, to be held in September 2018, and will end at the 2022 Annual General Meeting. Derk Haank will succeed Peter Wakkie as Chairman of the Supervisory Board, whose term will expire at the 2019 Annual General Meeting.

Derk Haank has thirty years’ experience in the academic publishing industry, almost half of which was with SpringerNature until his retirement in 2017. He joined Springer Science+Business Media in 2004 as its CEO and drove the migration of content from print to digital, re-inventing the academic book market in that process. Before his appointment at SpringerNature, Derk Haank was the CEO of Elsevier Science and Executive Board Member of Reed Elsevier PLC. He has been a member of the Supervisory Board of KPN since 2009 and Vice-Chairman since 2014.

“We are delighted that Derk has agreed to join us,” said Peter Wakkie, Chairman of the Supervisory Board of TomTom. “In Derk, we have found a highly qualified successor as Chairman and member of our Board. We particularly value his wealth of experience in driving transformations and new business models.”

Harold Goddijn, CEO of TomTom, said: “Derk is a proven leader in developing and implementing transformational business and growth strategies. We are excited to work with him and to benefit from his experience.”

Upon the adoption of the proposed appointment at the Extraordinary General Meeting, the Supervisory Board will consist of Peter Wakkie (Chairman), Jacqueline Tammenoms Bakker (Vice-Chairman), Jack de Kreij, Michael Rhodin, Bernd Leukert and Derk Haank.

tijd 09.13
De Midcap vlak op 778,00 +0,05 +0,01% TomTom EUR 7,99 +65,4ct vol. 1,4 milj.



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL