TomTom reports fourth quarter and full year 2017 results
Amsterdam, the Netherlands, 6 February 2018 7:30 AM CET
Financial summary Q4 '17
- Revenue of €220 million (Q4 '16: €266 million)
- Gross margin of 59% (Q4 '16: 58%)
- EBITDA of €37 million (Q4 '16: €39 million)
- Cash flow from operating activities of €98 million (Q4 '16: €76 million)
Financial summary FY '17
- Revenue of €903 million (FY '16: €987 million)
- Gross margin of 62% (FY '16: 57%)
- EBITDA of €141 million (FY '16: €141 million)
- Non-cash impairment charge on the entire goodwill of the Consumer segment of €169 million
- Adjusted EPS1 of €0.26 (FY '16: €0.23)
- Cash flow from operating activities of €173 million (FY '16: €144 million)
- Deferred revenue position of €244 million (Q4 '16: €204 million)
- Automotive order intake exceeded €400 million in 2017
- Strategic mapping and traffic services cooperation with ZENRIN in Japan
- HD Map & AutoStream to power Baidu's open autonomous driving platform, Apollo
- Online APIs integrated in Microsoft Azure's newly launched location-based services
- Telematics installed base increased by 16% in the year, reaching more than 800,000 subscriptions
Change percentages and totals calculated before rounding.
This report includes the following non-GAAP measures: gross margin, EBIT (margin), EBITDA (margin), adjusted net result, adjusted EPS and net cash, which are further explained on page 14 of this report.
1 Earnings per fully diluted share count adjusted for acquisition-related expenses & gains, impairments and material restructuring and disposal costs on a post-tax basis.
2 As of the start of 2018, we have changed the name of our Licensing segment to Enterprise as it better reflects the nature of activities, customers and target markets.
TomTom's Chief Executive Officer, Harold Goddijn
“Our business continues to shift towards higher gross margins, better predictability due to longer term contracts and more upfront cash flows. Over 60% of our revenue is now coming from data, software and services. We are becoming a software technology company, with a leading position in connected car, fleet management and online location and navigation services.
As a result of significant wins in North America, Automotive order intake exceeded €400 million in 2017, a new record. We have over 800,000 cars connected to our fleet management platform. Our online location and navigation services will become part of Microsoft’s Azure platform in 2018.”
View the full TomTom reports fourth quarter and full year 2017 results release on our quarterly results website.