Location Technology delivers 15% year-on-year revenue growth

TOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN

"We had a positive start to the year, showing solid progress in product development and attracting new customers.

The release of TomTom Navigation for Automotive, our cloud-native hybrid solution, further strengthens our leading position as a Location Technology specialist. It is the most comprehensive navigation system available to automakers today.

In Enterprise we expanded our customer base in the fleet and logistics and on-demand markets."

OPERATIONAL SUMMARY

The launch of TomTom Navigation for Automotive
Our TomTom ADAS map is powering the new Mitsubishi Outlander
Our database now covers almost 450,000 charging POIs for the fast-growing EV market
2.2 million shares repurchased through share buyback program
FINANCIAL SUMMARY FIRST QUARTER 2021

Group revenue of €131 million (Q1 '20: €131 million)
Location Technology revenue increased by 15% to €105 million (Q1 '20: €91 million)
Automotive operational revenue decreased by 8% to €74 million (Q1 '20: €81 million)
Free cash flow is an outflow of €4 million (Q1 '20: inflow of €14 million)
Net cash is €352 million (Q4 '20: €372 million)
KEY FIGURES

(€ in millions, unless stated otherwise)
Q1 '21 Q1 '20 y.o.y. change

Location Technology 104.8 91.3 15 %
Consumer 26.4 39.9 -34 %
Revenu 131.2 131.2 0 %
Gross result 106.5 102.6 4 %
Gross margin 81 % 78 %
EBITDA 7.3 -5.4
EBITDA margin 6 % -4 %
Operating result (EBIT) -14.2 -77.7
Operating margin -11 % -59 %
Net result -11.5 -62.8
Free cash flow (FCF) -3.9 13.7
FCF as a % of revenue -3 % 10 %

FINANCIAL AND BUSINESS REVIEW

TOMTOM’S CHIEF FINANCIAL OFFICER, TACO TITULAER

"Growth in both Automotive and Enterprise contributed to a year-on-year increase of 15% in Location Technology revenue.

Our operating result improved compared with last year as a result of higher gross margin and lower operating expenses. The latter is mainly explained by lower acquisition-related amortization and cautious cost management.

During the quarter, we resumed our share buyback, purchasing over 2 million shares for €17 million.

We are reiterating our full-year guidance with the expectation that revenue will be more weighted to the second half of the year given the supply chain constraints within the automotive industry."

Attachment

TomTom Q1 2021 results press release
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tijd 09.20
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