TomTom Reports Second Quarter 2013 Results

AMSTERDAM — (BUSINESS WIRE) — July 24, 2013 — TomTom:

Financial summary

  • Group revenue decreased by 4% to €250 million
  • Consumer revenue decreased by 4% to €149 million
  • PND revenue was flat at €108 million
  • Automotive revenue decreased by 13% to €52 million
  • Licensing revenue was flat at €29 million
  • Business Solutions revenue increased by 13% to €20 million
  • Gross margin of 51% (Q2 2012: 52%)
  • Adjusted EPS¹ of €0.07 (Q2 2012: €0.09)
  • Cash flow from operating activities of €45 million (Q2 2012: €10 million)
  • Net cash position of €6 million

Operational summary

  • New range of PNDs powered by NavKit well received
  • New GPS watches started shipping in July
  • TomTom Traffic powers Maps App in BlackBerry 10
  • Our Traffic covering 32 countries, now available in Russia
  • Business Solutions installed base grew to 269,000 subscribers; 29% year on year growth

2013 outlook

Full year outlook maintained of revenue of between €900 and €950 million, and adjusted EPS1 of around €0.20.

Key figures

 
(in € millions)       Q2 '13       Q2 '12      

y.o.y.
change

      H1 '13       H1 '12      

y.o.y.
change

                                                 
Revenue       250       262       -4%       452       495       -9%
                                                 
Gross profit       128       136       -6%       240       250       -4%
Gross margin       51%       52%               53%       51%        
                                                 
EBITDA 40 41 -3% 69 69 -1%
EBITDA margin       16%       16%               15%       14%        
                                                 
EBIT result 8 14 -45% 8 14 -44%
EBIT margin       3%       5%               2%       3%        
                                                 
Net result       8       9       -14%       5       7       -26%
                                                 
EPS, € diluted 0.03 0.04 -18% 0.02 0.03 -31%

Adjusted EPS, € diluted 1

     

0.07

      0.09       -21%       0.10       0.13       -18%

Change percentages are based on non-rounded figures


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