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News Release Details


TomTom reports fourth quarter and FY 2014 results

Feb 12, 2015
TomTom reports fourth quarter and FY 2014 results

Financial summary Q4 '14

  • Group revenue of €258 million (Q4 '13: €268 million)
  • Gross margin of 51% (Q4 '13: 54%)
  • EBIT margin of 1% (Q4 '13: 2%)
  • Cash flow from operating activities of €32 million (Q4 '13: €51 million)

Financial summary FY '14

  • Group revenue of €950 million (FY '13: €963 million)
  • Gross margin of 55% (FY '13: 54%)
  • EBIT margin of 2% (FY '13: 3%)
  • Adjusted EPS1 of €0.27 (FY '13: €0.26)
  • Cash flow from operating activities of €119 million (FY '13: €180 million2 )
  • Net cash position of €103 million (Q4 '13: €83 million)

Operational summary Q4 '14

  • Consumer shipped 500,000 GPS sport watches in the year
  • Partnership with Fiat extended to deliver LIVE services and connected navigation in the Uconnect™ infotainment systems in the new Fiat 500X
  • TomTom Traffic launched in South East Asia, the Middle East and Latin America
  • Acer smartphones equipped with TomTom turn-by-turn navigation technology
  • Telematics completed the acquisition of Fleetlogic, strengthening its leading position in Europe

Outlook 2015

  • Revenue grows to around €1 billion
  • Adjusted EPS1 of around €0.20

Key figures

1Earnings per fully diluted share count 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.
3Segment revenue breakdown reflects TomTom's new reporting structure as announced on 28 March 2014.
4Net result adjusted for acquisition-related amortisation & gain on a post-tax basis.

TomTom's Chief Executive Officer, Harold Goddijn

"2014 was a good year for TomTom. We made substantial progress in developing our core technologies across the group, achieving important milestones and positioning TomTom for growth.

With the introduction of our own branded GPS sport watches we made a successful step into the sport market. We will continue to bring innovative new Consumer products to the market. Our Automotive bookings exceeded €220 million this year, which together with orders secured earlier will deliver growth in our Automotive business from 2016 onwards. Our Telematics business continued to grow strongly, fuelled by a combination of organic growth and acquisitions.

The progress we made over the past two years gives us confidence for the future and we are committed to deliver top line growth in 2015.

We expect to have fully replaced our map-making system with a transaction-based platform that will enable near real-time maps, in the second half of 2015. With this technological innovation, TomTom is well positioned to address the need for accurate and up-to-date maps, for navigation applications and driver assistance applications, including Highly Automated Driving."

View the full TomTom reports fourth quarter and full year 2014 results release in PDF format