TomTom: Second quarter and first half 2018 results

TomTom: Second quarter and first half 2018 results

FINANCIAL AND OPERATIONAL HIGHLIGHTS

Financial summary Q2 ’18

  • Revenue of €231 million (Q2 ’17: €253 million)
  • Gross margin of 72% (Q2 ’17: 64%)
  • EBITDA of €63 million (Q2 ’17: €50 million)
  • Adjusted EPS€0.05 (Q2 ’17: €0.03)
  • Net cash position of €155 million (Q2 ’17: €82 million)
  • Deferred revenue position of €277 million (Q2 ’17: €240 million)

Operational summary Q2 ’18

  • TomTom EV Service wins TU-Automotive Award and the CLEPA Innovation Award
  • Microsoft’s Azure Maps, powered by TomTom, are now offered for general availability
  • Telematics recognised by Frost & Sullivan as Europe’s Fleet Telematics company of the year

Key figures

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TOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN

Our positive start to 2018 carried through in the second quarter of the year. Automotive continued to grow strongly and our gross margin further strengthened, resulting in year on year gross profit growth.

Our map production system has been reinforced through automated multi-source map fusion and machine learning, allowing for faster cycle times and lower operational costs. We are also happy to announce that Microsoft’s Azure Maps, powered by TomTom, are now offered for general availability.”

OUTLOOK 2018

We are increasing our guidance for the year.

Due to higher demand from our Automotive customers, we now expect to deliver full year revenue of around €825 million. Previous full year revenue guidance was around €800 million.

We expect our operational expenditure to show a modest decline compared to 2017, excluding impairment and restructuring.

The above effects will increase the adjusted EPS to at least €0.30.

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1 Earnings per fully diluted share count adjusted for movement of deferred revenue, unbilled revenue, deferred cost of sales, impairments and material restructuring and disposal costs on a post-tax basis.

 

View the full TomTom reports second quarter 2018 results release on our quarterly results website.

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