TomTom reports first quarter 2016 results
Financial summary Q1 '16
- Group revenue of €217 million (Q1 '15: €205 million)
- Gross margin of 57% (Q1 '15: 54%)
- EBITDA of €26 million (Q1 '15: €21 million)
- Adjusted EPS1 of €0.03 (Q1 '15: €0.01)
- Net cash position of €50 million (Q1 '15: €77 million)
Operational summary Q1 '16
- Consumer launched TomTom RIDER 410 for motorcyclists and the GO Mobile app for iPhone
- PSA Group launched its new global infotainment platform, built on the full suite of TomTom products
- Partnership with Fiat extended to deliver maps, traffic and navigation on the all new Uconnect™ 7" HD Nav and Uconnect™ 7" HD Nav LIVE systems
- HD Maps and RoadDNA coverage launched for all interstates and highways in California and Nevada
- Telematics increased its installed base by 30% and recurring subscription revenue by 28% year on year
- Full year outlook re-iterated; Revenue expected of around €1,050 million and adjusted EPS1 expected of around €0.23.
1 Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis
2 Net result in Q1 '16 includes a gain from a remeasurement of certain deferred tax assets and liabilities
TomTom's Chief Executive Officer, Harold Goddijn
"TomTom started the year with good revenue growth in Sport and B2B activities.
Consumer Sport saw the sell-out nearly doubling year on year and the new sport watches are winning numerous awards, which is another proof point of success.
Automotive delivered a strong performance and announced many customer deals during the quarter. We extended HD map and RoadDNA coverage in the quarter, enabling self-driving car testing in key regions of the US. Autonomous Driving continues to push boundaries; at TomTom we're excited to be playing a role in enabling the automotive industry to bring this closer to reality.
We are also developing new products for the Connected Car services industry, which take advantage of the capabilities of our Telematics technology. This allows us to target new business and consumer markets, including OEMs, dealerships, importers, servicing and leasing companies and the usage-based insurance (UBI) sector."
View the full TomTom reports first quarter 2016 results release in PDF format.