TomTom Reports third quarter 2006 Results
TomTom Reports third quarter 2006 Results
Oct 26, 2006
Supporting Materials:
2006-10-26.pdf 213.4 KB
Full Year Guidance Increased
Third quarter financial highlights
Compared with Q3 2005
- Revenue increased by 41% to €353 million
- 1.2 million portable navigation devices (PND’s) shipped, up 119%
- Gross margin increased by 1 percentage point to 44%
- Net profit increased by 24% to €73 million
- Fully diluted EPS improved by 24% to €0.62
- Revenue increased by 27%
- PND’s shipped increased by 42%
- Gross margin increased by 1 percentage point
- Operating margin increased by 6 percentage points to 29%
- Net profit increased by 92%
- Fully diluted EPS improved by 94%
- PND market continues to grow strongly
- Successful introduction and rapid ramp-up to full volumes of new ONE; GO range performs well with production volumes now at planned levels
- European market share of more than 50% in September; North American retail outlets increased by 5,000 to 16,000
- Order book is strong ahead of the holiday season
- Cash generated from operations of €117 million
Outlook 2006
Full year 2006 guidance increased: revenues now expected to be in the range of €1.3 billion to €1.4 billion (previously €1.1 billion to €1.3 billion), PND units in the range of 4.4 million to 4.7 million (previously 3.6 million to 3.9 million). We expect a gross margin of at least 40% and an operating margin of well in excess of our target of 20% for the full year.
Key figures
(unaudited) (in € millions) | Q3 ‘06 | Q2 ‘06 | Q3 ‘05 | YTD ‘06 | YTD ‘05 | change |
|
||||||
Revenue | 353 | 277 | 250 | 886 | 431 | 106% |
Gross profit | 154 | 118 | 108 | 360 | 187 | 93% |
Gross margin | 44% | 43% | 43% | 41% | 43% | |
|
||||||
Operating profit | 101 | 64 | 82 | 215 | 128 | 68% |
Operating margin | 29% | 23% | 33% | 24% | 30% | |
|
||||||
Net profit | 73 | 38 | 59 | 142 | 95 | 49% |
|
||||||
EPS – fully diluted (€ per share) | 0.62 | 0.32 | 0.50 | 1.21 | 0.84 | 44% |
* percentages are based on rounded figures
View the full Third quarter results release 2006 in PDF format (156KB)