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TomTom reports second quarter 2011 results

Jul 22, 2011
Supporting Materials:
TomTom reports second quarter 2011 results

Q2 2011 financial summary

  • Revenue of €314 million compared to €362 million in Q2 2010
  • Consumer revenue declined by 23% year on year to €209 million
  • Automotive revenue grew by 34% year on year to €60 million
  • Business Solutions grew by 12% year on year to €14 million
  • Non-cash impairment charge on goodwill and other intangible assets of €512 million
  • Operating result of €18 million and net result of €11 million excluding impairment2

Q2 2011 operational summary

  • Base of active users of LIVE Services tripled year over year to 1.1 million
  • GO LIVE 800 series launched
  • Over 1 million Carminat TomTom systems sold by Renault since launch
  • Blue&Me TomTom introduced in the US
  • Traffic portfolio available to businesses and governments in 14 countries

2011 outlook

  • Revenue of between €1,225 and €1,275 million and earnings per share of between €0.25 and €0.30 excluding impairment

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1Operating expenses include an impairment charge of €512 million and restructuring charges of €0.2 million in Q2 2011, €1.2 million in Q2 2010 and €0.6 million in Q1 2011
2Excluding impairment charge and related tax effects
3Earnings per share adjusted for impairment, acquisition-related amortisation and restructuring charges on a post tax basis

View the full TomTom second quarter 2011 results release in PDF format