TomTom reports fourth quarter and full year 2015 results
Financial summary Q4 '15
- Group revenue of €282 million (Q4 '14: €258 million)
- Gross margin of 49% (Q4 '14: 51%)
- EBIT margin of 0% (Q4 '14: 1%)
- Cash flow from operating activities of €58 million (Q4 '14: €32 million)
Financial summary FY '15
- Group revenue of €1,007 million (FY '14: €950 million)
- Gross margin of 52% (FY '14: 55%)
- EBIT margin of 0% (FY '14: 2%)
- Adjusted EPS1 of €0.21 (FY '14: €0.27)
- Cash flow from operating activities of €119 million (FY '14: €119 million)
- Net cash position of €98 million (Q4 '14: €103 million)
- Consumer shipped over 600,000 GPS sport watches in the year
- Automotive bookings exceeded €300 million in 2015
- Multi-year agreement with Uber announced to provide worldwide maps and traffic data
- New map-making platform is live
- Telematics acquired Finder, leading fleet management service provider in Poland
- Revenue to grow to around €1,050 million
- Adjusted EPS1 to grow by around 10% to €0.23
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 delivered top-line growth in 2015, for the first time in five years. The weakening of the euro in combination with higher investments in our core technologies affected our profitability negatively in 2015. As a result, our EBIT for the year was at break-even. The net result for 2015 was €18 million, which translates to adjusted earnings per share of €0.21.
Consumer continued to make further inroads in establishing a multi-product consumer business with GPS sport watches and action cameras. Automotive broke the 2014 record of new bookings, Licensing delivered strong growth through existing and new customers and Telematics saw continued strong growth in installed base and recurring revenue.
We made substantial progress with our core technologies across the group. We completed the move to our new map-making platform this year. This platform is the first of its kind in the industry and a leap forward in map-making technologies. We have integrated the NDS map format into our navigation software on device-based and server-based navigation applications and we continued to increase our market share in traffic, increasing our global coverage and enhancing our traffic services.
Our skills and expertise in location data and technologies give us confidence that TomTom is well positioned to capture on growing opportunities in the area of Autonomous Driving, Connected Car, Fleet Management services and Consumer Wearables."
View the full TomTom reports fourth quarter and full year 2015 results release in PDF format.