TomTom Reports First Quarter 2010 Results

Revenue growth and increased profitability supported by all business units

AMSTERDAM — (BUSINESS WIRE) — April 25, 2010 — TomTom (AEX:TOM2):

Financial highlights Q1 2010

  • Revenue increase of 26% to €268 million (Q1 2009: €213 million)
  • Strong performances of Consumer (+16%), Automotive (+216%) and WORK (+33%)
  • Profitability increased by 4 ppts for gross margin and 13 ppts for EBIT margin
  • Maintain full year guidance of broadly flat revenue and earnings per share in 20101

Operational highlights Q1 2010

  • Geographic expansion with maps for India and Ukraine, and PNDs for Mexico and Morocco
  • 41% growth in number of WEBFLEET subscriptions
  • Expansion of automotive relationships with Alfa Romeo and Ford
  • Location and navigation content enriched with gradient, road curvature and ADAS-quality geometry

TomTom’s Chief Executive Officer, Harold Goddijn

“We performed well this first quarter, reporting significant year on year revenue growth due to the strong performance of all our business units. In addition, both our gross and operating margins increased by several percentage points. On the product front we remain on track with our product development to bring exciting new innovations to the market this year.’’

Key figures2

(in € millions)   Q1'10   Q1'09   y.o.y. change   Q4'09   q.o.q. change
                     
Revenue   268   213   26%   533   -50%
                     
Gross result   144   107   34%   245   -41%
Gross margin   54%   50%       46%    
                     
EBITDA 44 10 350% 136 -68%
EBITDA margin   16%   5%       26%    
                     
EBIT 17 -16 111
EBIT margin   6%   -7%       21%    
                     
Net result   3   -37       73    
                     
EPS, € diluted 0.01 -0.25 0.33

Adjusted EPS 3 , € diluted

  0.07   -0.13       0.39    

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