TomTom reports first quarter 2016 results

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Overig advies 19/04/2016 07:34
Financial summary Q1 '16

Group revenue of €217 million (Q1 '15: €205 million)
Gross margin of 57% (Q1 '15: 54%)
EBITDA of €26 million (Q1 '15: €21 million)
Adjusted EPS1 of €0.03 (Q1 '15: €0.01)
Net cash position of €50 million (Q1 '15: €77 million)
Operational summary Q1 '16

Consumer launched TomTom RIDER 410 for motorcyclists and the GO Mobile app for iPhone
PSA Group launched its new global infotainment platform, built on the full suite of TomTom products
Partnership with Fiat extended to deliver maps, traffic and navigation on the all new Uconnect™ 7" HD Nav and Uconnect™ 7" HD Nav LIVE systems
HD Maps and RoadDNA coverage launched for all interstates and highways in California and Nevada
Telematics increased its installed base by 30% and recurring subscription revenue by 28% year on year
Outlook 2016

Full year outlook re-iterated; Revenue expected of around €1,050 million and adjusted EPS1 expected of around €0.23.

TomTom's Chief Executive Officer, Harold Goddijn

"TomTom started the year with good revenue growth in Sport and B2B activities.

Consumer Sport saw the sell-out nearly doubling year on year and the new sport watches are winning numerous awards, which is another proof point of success.

Automotive delivered a strong performance and announced many customer deals during the quarter. We extended HD map and RoadDNA coverage in the quarter, enabling self-driving car testing in key regions of the US. Autonomous Driving continues to push boundaries; at TomTom we're excited to be playing a role in enabling the automotive industry to bring this closer to reality.

We are also developing new products for the Connected Car services industry, which take advantage of the capabilities of our Telematics technology. This allows us to target new business and consumer markets, including OEMs, dealerships, importers, servicing and leasing companies and the usage-based insurance (UBI) sector."

Key figures
(€ in millions, unless stated otherwise)1 Q1 '16 Q1 '15 y.o.y. change
Consumer 116.6 121.6 –4%
Automotive 29.7 23.6 26%
Licensing 33.7 29.0 16%
Telematics 37.1 31.1 19%
REVENUE 217.2 205.3 6%
GROSS RESULT 123.3 109.9 12%
Gross margin 57% 54%
EBITDA 25.6 21.4 19%
EBITDA margin 12% 10%
OPERATING RESULT (EBIT) –4.3 –5.1
EBIT margin –2% –2%
NET RESULT2 4.8 –6.9
ADJUSTED NET RESULT 7.9 2.4
DATA PER SHARE (in €)
EPS - fully diluted 0.02 –0.03
Adjusted EPS - fully diluted3 0.03 0.01
1 Change percentages and totals are based on non-rounded figures
2 Net result in Q1 '16 includes a gain from a remeasurement of certain deferred tax assets and liabilities
3 Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis

tijd 09.28
TomTom EUR 8,96 +33ct vol. 921.000



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