TomTom reports third quarter 2013 results
- Group revenue of €244 million (Q3 '12: €274 million)
- Gross margin of 56% (Q3 '12: 55%)
- EBIT margin of 6% (Q3 '12: 12%)
- Adjusted¹ EPS of €0.10 (Q3 '12: €0.14)
- Cash flow from operating activities of €71 million (Q3 '12: €50 million)
- Net cash position of €52 million (Q3 '12: net debt of €153 million)
- New generation of PNDs widely available in Europe
- Successful roll-out of our GPS sports watches, now available in 21 countries
- TomTom's real-time traffic in more Daimler models
- Renault R-Link ranked by independent study as the best in-dash infotainment system
- Business Solutions acquires Coordina, the Spanish market leader in Fleet Management Solutions
We expect to deliver full year revenue towards the upper end of our guidance of between €900 and €950 million and we expect adjusted¹ EPS of around €0.25 (previously around €0.20).
TomTom's Chief Executive Officer, Harold Goddijn
"Our new PND ranges became fully available in the European market and our first TomTom branded sports watches shipped in all of our major global markets. On the back of this we have started a communications campaign that will run well into the fourth quarter.
We continue to make inroads into the Automotive market although revenue is affected by ongoing low car sales.
We reported a solid set of results despite challenging market conditions and generated significant cash from operations."
¹ Earnings per share adjusted for acquisition-related amortisation & gain on a post-tax basis
View the full TomTom reports third quarter 2013 results release in PDF format