Tom-Tom reported a solid set of results in the third quarter and generated strong cash from operations

TomTom ©

Financial summary Q3 '14

• Revenue of €235 million (Q3 '13: €244 million)
• Gross margin of 57% (Q3 '13: 56%)
• EBIT of €8 million (Q3 '13: €14 million)
• Adjusted¹ EPS of €0.07 (Q3 '13: €0.10)
• Net cash position of €104 million (Q3 '13: €52 million)

Operational summary Q3 '14

• New entry-level START range of PNDs introduced
• TomTom Golfer GPS watch launched
• Partnership with Volkswagen Group Research for the development of Highly Automated Driving (HAD) systems
• Partnership with Bosch SoftTec to deliver Advanced Driver Assistance Systems (ADAS)
• Multinet-R map format launched, the first commercial product release from our new map-making platform
• Location-based services product portfolio extended with online turn-by-turn navigation
• Telematics installed base increased to 414,000

Outlook 2014

• Full year outlook for revenue updated; revenue now expected of between €930 million and €950 million. Outlook for adjusted¹ EPS of at least €0.25 is unchanged

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¹Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis.
²Segment revenue breakdown reflects TomTom's new reporting structure as announced on 28 March 2014.

TomTom's Chief Executive Officer, Harold Goddijn

"We reported a solid set of results in the third quarter and generated strong cash from operations.
We launched a number of new products across our businesses, such as our first sport watch for golfers, a line of fully customisable driver terminals and an online turn-by-turn navigation product.
We also achieved a very important milestone with the commercial release of the MultiNet-R map format in September. This map format is the first product fully built from our new map-making platform. With incremental updating at the core of its design, MultiNet-R will serve as a key component in delivering short cycle times between detecting changes in the real world and updating the map on the end-user's devices.

In Automotive, we continue to make good progress in delivering our connected navigation system components. Our bookings for this year so far are above €170 million, which together with orders secured earlier will support growth in our Automotive business from 2016 onwards." 

View the full TomTom reports third quarter 2014 results release in PDF format.

About Tom-tom:

TomTom empowers movement. Every day millions of people around the world depend on TomTom to make smarter decisions. We design and develop innovative products that make it easy for people to keep moving towards their goals. Best known for being a global leader in navigation and mapping products, TomTom also creates GPS sports watches, as well as state-of-the-art fleet management solutions and industry-leading location-based products. Our business consists of four customer-facing business units: Consumer, Automotive, Licensing and Telematics.

By Tom-Tom ©