TomTom Reports Second Quarter 2010 Results

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Beleggingsadvies 21/07/2010 09:18
Continued growth of Automotive, WORK, and Content & Services revenue
Financial highlights Q2 2010
- Group revenue of €362 million (Q2 2009: €368 million)
- Strong growth of Automotive and WORK revenue by 82% and 42% respectively
- Gross margin of 51% with healthy contribution of Content & Services revenue
- Net result increased 69% to €34 million
- Net cash flow from operating activities of €67 million
- Operational highlights Q2 2010

Premium PND range announced based on new software architecture
Connected navigation is being rolled out across Europe
PND market share growth in both Europe and North America
Take up rate of in-dash solutions continues to be strong
Outlook 2010

Full year guidance maintained of broadly flat revenue and earnings per share in 20101
TomTom's Chief Executive Officer, Harold Goddijn
"We made some important steps this quarter with the development of our new software architecture, which will allow us to bring innovations to the market faster. We will bring this new platform to our customers in 33 countries, firstly on our recently announced GO 1000 LIVE. Our new premium range PND will offer our customers a unique suite of services and features including HD Traffic and accelerated routing technology, providing our customers with the best guidance available with no hidden cost or additional charges when travelling abroad."




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