TomTom Reports third quarter 2007 Results
• Revenue of €427 million, up 12% sequentially and up 21% year on year
• Portable Navigation Device (PND) volume of 2.2 million, up 20% sequentially and up 83% year on year
• Gross margin of 49%, up 4 points sequentially and up 5 points year on year
• Operating margin of 31%, up 7 points sequentially and up 3 points year on year
• Net profit of €99 million, up 44% sequentially and up 36% year on year
• Fully diluted EPS of €0.83, up 42% sequentially and up 33% year on year
• Net cash inflow of €153 million
Third quarter 2007 operational highlights
• Continued strong market demand for PNDs
• New TomTom GO family and ONE 3rd Edition well received
by the market
• Map ShareTM technology introduced, strong initial
response
• Announcement of first embedded navigation solution for
Toyota
Outlook 2007
• European market for PNDs expected to almost double to
15-16 million units and US market to triple to 8-9 million
units
• TomTom expects to sell between 9 and 10 million units
worldwide
• Revenue expected to be between €1.7 and €1.8
billion
• Gross margin expected to be more than 40% and operating
margin well in excess of 20%
Update on Tele Atlas acquisition
• TomTom was advised that the waiting period required by
the US HSR Antitrust Improvements Act for TomTom's proposed
acquisition of Tele Atlas had been terminated early without a
request for additional information
• TomTom has notified the transaction with the European
Commission in accordance with the planned timetable
Key figures*
|
(unaudited) (in € millions) |
Q3'07 |
Q2'07 |
|
Q3'06 |
|
|
YTD '07 |
YTD '06 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
427 |
380 |
12% |
353 |
21% |
|
1,103 |
886 |
24% |
|
Gross profit |
208 |
169 |
23% |
154 |
35% |
|
496 |
360 |
38% |
|
Gross margin |
48.8% |
44.6% |
|
43.5% |
|
|
45.0% |
40.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit |
133 |
93 |
43% |
101 |
33% |
|
283 |
215 |
32% |
|
Operating margin |
31.3% |
24.5% |
|
28.5% |
|
|
25.7% |
24.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit |
99 |
68 |
44% |
73 |
36% |
|
211 |
142 |
49% |
|
|
|
|
|
|
|
|
|
|
|
|
EPS (fully diluted in €) |
0.83 |
0.58 |
42% |
0.62 |
33% |
|
1.78 |
1.21 |
47% |
* percentages are based on non-rounded figures
View the full Third quarter results release 2007 in PDF format