TomTom reports second quarter 2016 results
Financial summary Q2 '16
- Group revenue of €265 million (Q2 '15: €265 million)
- Gross margin of 55% (Q2 '15: 51%)
- EBITDA of €44 million (Q2 '15: €28 million)
- Net result of €12 million (Q2 '15: €3 million)
- Adjusted EPS1 of €0.10 (Q2 '15: €0.05)
- Net cash position of €58 million (Q1 '16: €50 million)
Operational summary Q2 '16
- Consumer reached over 1 million users on the MySports platform
- Volvo Cars selected TomTom maps, traffic and software for its new infotainment platform
- HD Map and RoadDNA coverage launched in 17 states across the United States
- Collaboration with PSA Group announced making the TomTom WEBFLEET fleet management solution available for all connected Peugeot, Citroën and DS fleet vehicles
Full year outlook reiterated; Revenue expected of around €1,050 million and adjusted EPS1 expected of around €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
"Overall, we reported a solid set of results in the second quarter. Our gross margin continued to strengthen, as we are reducing our dependency on hardware products by growing recurring content and services business.
Our Automotive order intake is on track, and we are especially pleased that Volvo Cars selected us as global provider of maps, navigation and traffic.
In this quarter, Telematics added a record number of 27,000 vehicles to its installed base and signed an important agreement with PSA Group to offer value-added fleet management services."
View the full TomTom reports second quarter 2016 results release in PDF format.