TomTom reports third quarter 2017 results
Amsterdam, the Netherlands, 20 October 2017 7:30 AM CEST
Financial summary Q3 '17
- Revenue of €218 million (Q3 '16: €239 million)
- Gross margin of 65% (Q3 '16: 60%)
- EBITDA of €31 million (Q3 '16: €33 million)
- Adjusted EPS1 of €0.08 (Q3 '16: €0.05)
- Net cash position of €102 million (Q3 '16: €81 million)
- Deferred revenue position of €240 million (Q3 '16: €206 million)
Operational summary Q3 '17
- Traffic service expanded to 68 countries
- Launch of TomTom EV Service providing real-time availability for charging points for drivers of electric vehicles
- Telematics recognised by Berg Insight as Europe's leading and most innovative provider of fleet management solutions (for the third year running)
- Strategic review of Consumer Sports in progress
Full year revenue outlook updated. Due to recent reorganisation of Consumer Sports, revenue is now expected of around €900 million2. Outlook for adjusted EPS1 of around €0.25 is unchanged.
Change percentages and totals calculated before rounding.
This report includes the following non-GAAP measures: gross margin, EBIT (margin), EBITDA (margin), adjusted net result, adjusted EPS and net cash, which are further explained on page 11 of this report.
1 Earnings per fully diluted share count adjusted for acquisition-related expenses & gains, impairments and material restructuring costs on a post-tax basis.
2 Previous full year revenue guidance was around €925 million.
TomTom's Chief Executive Officer, Harold Goddijn
“Our strategy is to build on our leading position in providing navigation technologies to business customers. We are setting our priorities for the future, strengthening support for our growing B2B products. In the quarter, combined revenue of Automotive, Licensing and Telematics grew by 18% year on year and the gross margin that we generate as a Group improved from 60% to 65%. Our Consumer segment will represent less than half of total revenue in the running year. Consumer Drive will continue to provide a valuable platform for consumer insight and collecting location data.”
View the full TomTom reports third quarter 2017 results release on our quarterly results website.