TomTom reports second quarter 2011 results

AMSTERDAM — (BUSINESS WIRE) — July 21, 2011Q2 2011 financial summary

  • Revenue of €314 million compared to €362 million in Q2 2010
  • Consumer revenue declined by 23% year on year to €209 million
  • Automotive revenue grew by 34% year on year to €60 million
  • Business Solutions grew by 12% year on year to €14 million
  • Non-cash impairment charge on goodwill and other intangible assets of €512 million
  • Operating result of €18 million and net result of €11 million excluding impairment2

Q2 2011 operational summary

  • Base of active users of LIVE Services tripled year over year to 1.1 million
  • GO LIVE 800 series launched
  • Over 1 million Carminat TomTom systems sold by Renault since launch
  • Blue&Me TomTom introduced in the US
  • Traffic portfolio available to businesses and governments in 14 countries

2011 outlook

  • Revenue of between €1,225 and €1,275 million and earnings per share of between €0.25 and €0.30 excluding impairment

Key figures1

                     
(in € millions)   Q2 '11   Q2 '10   y.o.y. change   Q1 '11   q.o.q. change
                     
Revenue   314   362   -13%   265   19%
                     
Gross result   160   185   -13%   141   14%
Gross margin   51%   51%       53%    
                     
EBITDA 46 75 -39% 44 4%
EBITDA margin   15%   21%       17%    
                     
Operating result -494 50 18
Operating margin   -157%   14%       7%    
                     
Net result attributable to the group   -489   34       11    
                     
EPS, € diluted -2.20 0.15 0.05
EPS, € diluted, excluding impairment 2 0.05 0.15 0.05
Adjusted EPS, € diluted 3   0.10   0.21       0.10    

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