TomTom Reports Third Quarter 2011 Results

AMSTERDAM — (BUSINESS WIRE) — October 23, 2011Financial headlines Q3 2011

  • Group revenue decreased by 10% to €336 million
  • Content and Services revenue increased by 19% to €107 million
  • Consumer revenue decreased by 23% to €225 million
  • Automotive revenue increased by 43% to €59 million
  • Licensing revenue increased by 27% to €36 million
  • Business Solutions revenue increased by 33% to €17 million
  • Net result attributable to the group increased by 50% to €29 million
  • Net cash flow from operating activities increased by 62% to €70 million

Operational headlines Q3 2011

  • Restructuring programme initiated; savings of €50 million targeted
  • LIVE Services take rate increased to 28% from 21% last year
  • Expansion of automotive partnerships with Renault, Fiat and Mazda
  • Consumer product announcement for the Indian market

Outlook full year 2011

  • We expect to deliver full year results towards the upper end of our guidance for revenue of between €1,225 million and €1,275 million and EPS of between €0.25 and €0.30, excluding impairment and restructuring charges

Key figures1

(in € millions)     Q3’11     Q3’10     y.o.y.     Q2’11     q.o.q.
            change         change
                               
Revenue     336     375     -10%     314     7%
                               
Gross result 173 178 -3% 160 8%
Gross margin     51%     48%           51%      
                               
EBITDA 68 81 -16% 46 49%
EBITDA margin     20%     22%           15%      
                               
Operating result 41 55 -26% -494
Operating margin     12%     15%                  
                               
Net result attributable to the group     29     19     50%     -489      
                               
EPS, € diluted 0.13 0.09 50% -2.20

EPS, € diluted, excluding impairment

0.13 0.09 50% 0.05 162%

Adjusted EPS, € diluted

    0.18     0.14     35%     0.10     80%

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