TomTom reports fourth quarter and FY 2013 results
Financial summary Q4 '13
- Group revenue of €268 million (Q4 '12: €289 million)
- Gross margin of 54% (Q4 '12: 53%)
- EBIT margin of 2% (Q4 '12: 9%)
- Cash flow from operating activities of €51 million (Q4 '12: €91 million)
Financial summary FY '13
- Group revenue of €963 million (FY '12: €1,057 million)
- Gross margin of 54% (FY '12: 52%)
- EBIT margin of 3% (FY '12: 7%)
- Adjusted1 EPS of €0.26 (FY '12: €0.40)
- Cash flow from operating activities of €180 million2 (FY '12: €167 million)
- Net cash of €83 million (YE '12: net debt of €86 million)
Operational summary Q4 '13
- TomTom Traffic launched in Brazil
- TomTom Traffic enters into a partnership agreement with Total Traffic + Weather Network (Clear Channel) in North America
- Business Solutions grows its installed base by 38% year on year to 330,000 WEBFLEET subscriptions
- Revenue of around €900 million
- Adjusted1 EPS of around €0.20
TomTom's Chief Executive Officer, Harold Goddijn
"2013 was a solid year for us, both operationally and financially. We launched important new products, such as our new PND range and our first TomTom own branded GPS sports watches, and we increased the velocity and productivity of our development activities. We delivered a strong gross margin and generated significant cash from operations.
We achieved a net cash position mid-way through the year and built on this through to the end of the year. In the year ahead we plan to step up our investments in our new map making platform and navigation software, which will further strengthen TomTom's capabilities and its competitive position."
1 Earnings per share adjusted for acquisition-related amortisation & gain on a post-tax basis.
2 €180 million excludes a €80 million one-off tax gain received from the Dutch tax authorities.
View the full TomTom reports fourth quarter 2013 results release in PDF format