TomTom reports first quarter 2017 results
Financial summary Q1 '17
- Revenue of €213 million (Q1 '16: €217 million)
- Gross margin of 62% (Q1 '16: 57%)
- EBITDA of €28 million (Q1 '16: €26 million)
- Adjusted EPS1 of €0.03 (Q1 '16: €0.03)
- Net cash position of €79 million (Q1 '16: €50 million)
Operational summary Q1 '17
- Acquisition of Autonomos, a Berlin-based Autonomous Driving start-up
- TomTom HD Map selected in the Volvo’s Drive Me research programme for Autonomous Driving
- Traffic service extended in South America and now covers 54 countries globally
- Frankfurt and Düsseldorf selected TomTom’s data to power their traffic management centres
- TomTom Touch Cardio, an activity tracker with a built-in heart rate monitor, launched
Full year outlook re-iterated; revenue expected in the range of €925 million to €950 million and adjusted EPS1 expected of around €0.25
1Earnings per fully diluted share count adjusted for acquisition-related expenses & gains on a post-tax basis.
TomTom's Chief Executive Officer, Harold Goddijn
“Combined Automotive, Licensing and Telematics revenue grew by 14% year on year, in line with our expectations. High margin recurring software revenue now accounts for 60% of group revenue and more than 75% of gross result in the quarter.
Automotive revenue came in strong because of overall growing car sales and new car models launched with our products. We are happy that the international motor press selected the PEUGEOT 3008 as the Car of the Year 2017 featuring our products.
We continued to make progress in Autonomous Driving during this quarter. Volvo selected our products for their Drive Me research programme and our HD Map and RoadDNA coverage was further extended.”
View the full TomTom reports first quarter 2017 results release on our quarterly results website.