Tele Atlas reports 4Q07 and FY2007 profit

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Overig advies 28/02/2008 07:55
Tele Atlas Reports Record Fourth Quarter and Full Year 2007
- 2007 Net Income €24.4 million, Revenue Increases 17%
's-Hertogenbosch, The Netherlands, February 28, 2008 - Tele Atlas NV (EUNV: TA, FSE: TA6), a leading global provider of digital maps and dynamic content for navigation and location based solutions, today reported results for the fourth quarter and full year of 2007.

Highlights of the full year and fourth quarter 2007:
- Full year revenues increased 17% to €308.0 million from €264.3 million in 2006
- Full year Adjusted EBITDA increased 45%, to €63.6 million in 2007
- Positive full year net income of €24.4 million
- Fourth quarter revenues increased 17% to €96.9 million
- Fourth Quarter Adjusted EBITDA increased 49% to €31.3 million
- Portable Navigation grew 35% and Internet and Wireless grew 66% over 2006
- TomTom transaction in phase two review by European Commission

Outlook 2008: Estimated revenues will grow to €375 - €385 million and Adjusted EBITDA will grow to €85 - €95 million

Cash Flow
The net cash flow from operating activities in 2007 declined to a cash inflow of €34.0 million in 2007 from €39.3 million in 2006. This resulted primarily from an increase in working capital and higher taxes, which were partially offset by a higher EBITDA. Working capital and other changes increased by €33.5 million as compared to an increase of €19.7 million in 2006.

Full Year 2008 Outlook
At the time of this writing, the proposed purchase of Tele Atlas by TomTom remains under review by the European Commission competition authorities. We are not able at this time to assess the effect of the proposed purchase on periods after the closing of the transaction. The following guidance has been developed on the basis of Tele Atlas as a standalone independent company.

With this assumption and based on the 2007 results and our current expectations for 2008, we estimate revenues will grow to between €375 and €385 million during 2008 and Adjusted EBITDA will grow to between €85 and €95 million.

This outlook includes the impact of the Taiwan, Thailand and South Africa transactions which were concluded in 2007. All together, these transactions are expected to increase 2008 revenues by €5 million and increase 2008 Adjusted EBITDA by €1 million

The Company's expenditures for property and equipment for 2008 are expected to be approximately €15 million and working capital requirements for accounts receivables are expected to increase in proportion to the expected increase in revenues.

This outlook excludes the impact of unforeseen circumstances as well as the impact of any acquisitions which may be completed in 2008.

Subsequent to 2008, our current expectation is that, barring unforeseen circumstances, we can grow revenues in excess of 20% on an annual basis for the next several years and that our Adjusted EBITDA for each year will increase by approximately 50% of incremental revenue.

For more information, please contact:
Jan Wirken
Investor Relations Manager, Tele Atlas NV
Phone: + 31 73 640 21 60
jan.wirken@teleatlas.com




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