TomTom Reports first quarter 2008 Results
• Revenue of €264 million compared to €296 million last year
• US revenue increased 133% year on year to €85 million
• Other revenue increased 45% year on year to €25 million
• Portable navigation device (PND) volume of 2.0 million; up 50% year on year
• Gross margin of 35% compared to 40% last year
• Net profit of €7.3 million; fully diluted EPS of €0.06
First quarter operational highlights
• Continued strong PND market growth of over 40% in
Europe and over 100% in North America
• HD Traffic™ service announced in Germany, France
and Switzerland
• TomTom community grew to over 5 million registered
users
• IQ Routes™ technology launched
• New TomTom GO range shipping in April
Outlook 2008
• Continued strong
growth of the European and North American PND markets; combined
markets expected to grow by more than 50% to 38 million units in
2008
• Revenue expectation for 2008 of between €1.8
billion and €2.0 billion
• PND unit forecast for 2008 of between 14 million and 15
million
• Targets for gross margin and operating margin for 2008
of close to 40% and 20% of revenue respectively
Key figures*
(in € millions)
(unaudited)
Q1'08
Q4'07
Change Q1'07 Change
Revenue 264
634
-58% 296
-11%
Gross
profit
92
268
-66%
118
-22%
Gross
margin
35%
42% 40%
Operating
profit
9
144
-94% 57 -85%
Operating
margin
3%
23% 19%
Net
profit 7
107 -93%
44 -83%
EPS - fully diluted (in €)
0.06
0.87
-93%
0.37
-85%
* percentages are based on non-rounded figures
View the full First quarter results release 2008 in PDF format