TomTom Reports second quarter 2007 Results
• Revenue of €380 million, up 29% sequentially and up 37% year on year
• Portable navigation device (PND) volume of 1.8 million, up 36% sequentially and up 118% year on year
• Gross margin of 45%, up 5 points sequentially and up 2 points year on year
• Operating margin of 25%, up 6 points sequentially and up 2 points year on year
• Net profit of €68 million, up 56% sequentially and up 81% year on year
• Fully diluted EPS of €0.58, up 56% sequentially and up 81% year on year
• Net cash flow from operating activities of €72 million
Second quarter 2007 operational highlights
• New TomTom GO range launched
• MapShare™ proprietary map improvement technology announced
• Joint development announced with Vodafone UK to deliver unique new advanced travel time information system in the UK
Outlook 2007
• European and North American markets for PNDs together expected to grow to around 21 million units in 2007
• Revenue expectation for 2007 of between €1.6 billion to €1.8 billion maintained
• PND unit forecast for 2007 increased to between 8 and 9 million
• Gross margin of at least 40% of revenue and operating margin of at least 20% of revenue now expected for the full year
Tele Atlas N.V. acquisition
• Today we announce that TomTom N.V. intends to make a cash offer of € 21.25 per ordinary share for Tele Atlas N.V. We refer to a joint press release for detailed information.
Key figures*
(unaudited) (in € millions) | Q2 ‘07 | Q1 ‘07 | change | Q2 ‘06 | change | |
Revenue | 380 | 296 | 29% | 277 | 37% | |
Gross profit | 169 | 118 | 43% | 118 | 44% | |
Gross margin | 45% | 40% | 43% | |||
Operating profit | 93 | 57 | 65% | 64 | 47% | |
Operating margin | 25% | 19% | 23% | |||
Net profit | 68 | 44 | 56% | 38 | 81% | |
EPS – fully diluted (in € ) | 0.58 | 0.37 | 56% | 0.32 | 81% |
* percentages are based on rounded figures
View the full Second quarter results release 2007 in PDF format (164KB)