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TomTom Reports Second Quarter Results 2007

Jul 23 2007

TomTom Reports Second Quarter Results 2007

Strong revenue and profitablity

Second quarter 2007 financial highlights
• Revenue of €380 million, up 29% sequentially and up 37% year on year
• Portable navigation device (PND) volume of 1.8 million, up 36% sequentially and up 118% year on year
• Gross margin of 45%, up 5 points sequentially and up 2 points year on year
• Operating margin of 25%, up 6 points sequentially and up 2 points year on year
• Net profit of €68 million, up 56% sequentially and up 81% year on year
• Fully diluted EPS of €0.58, up 56% sequentially and up 81% year on year
• Net cash flow from operating activities of €72 million

Second quarter 2007 operational highlights
• New TomTom GO range launched
• MapShare™ proprietary map improvement technology announced
• Joint development announced with Vodafone UK to deliver unique new advanced travel time     information system in the UK

Outlook 2007
• European and North American markets for PNDs together expected to grow to around 21 million units in 2007
• Revenue expectation for 2007 of between €1.6 billion to €1.8 billion maintained
• PND unit forecast for 2007 increased to between 8 and 9 million
• Gross margin of at least 40% of revenue and operating margin of at least 20% of revenue now    expected for the full year


Tele Atlas N.V. acquisition
• Today we announce that TomTom N.V. intends to make a cash offer of € 21.25 per ordinary share for Tele Atlas N.V.  We refer to a joint press release for detailed information.

Key figures*

(unaudited) (in € millions) Q2 ‘07 Q1 ‘07 change Q2 ‘06 change
             
Revenue 380 296 29% 277 37%
Gross profit 169 118 43% 118 44%
Gross margin 45% 40% 43%
             
Operating profit 93 57 65% 64 47%
Operating margin 25% 19% 23%
             
Net profit 68 44 56% 38 81%
             
EPS – fully diluted (in € ) 0.58 0.37 56% 0.32 81%

* percentages are based on rounded figures

View the full Second quarter results release 2007 in PDF format (164KB)

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