TomTom reports first quarter 2015 results
Financial summary Q1 '15
- Group revenue of €205 million (Q1 '14: €205 million)
- Gross margin of 54% (Q1 '14: 57%)
- EBITDA of €21 million (Q1 '14: €30 million)
- Adjusted EPS1 of €0.01 (Q1 '14: €0.08, of which €0.04 related to a one-off tax gain)
- Net cash position of €77 million (Q1 '14: €44 million)
Operational summary Q1 '15
- Consumer launched the new TomTom RIDER for motorcyclists
- Volkswagen selects TomTom Maps in North America and TomTom Traffic in Europe
- TomTom to deliver LIVE Services to Hyundai and Kia in Europe
- Global partnership with Fiat extended to deliver maps and navigation in the Uconnect™ infotainment system in Latin America
- Telematics increased its installed base by 39% and recurring subscription revenue by 32% year on year
- Full year outlook re-iterated; Revenue expected of around €1 billion and adjusted EPS1 expected of around €0.20.
1 Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis.
TomTom's Chief Executive Officer, Harold Goddijn
"We have started the year in line with our expectations. Our Consumer activities held up well in the first quarter, through a combination of a resilient PND market and growth in sports products. Our Automotive business contracted as anticipated and newly booked business continued at levels which will support a growing business. We saw continued strong growth in our Telematics recurring subscription revenue and Licensing delivered double-digit revenue growth in the quarter."
View the full TomTom reports first quarter 2015 results release in PDF format