AMSTERDAM — (BUSINESS WIRE) — February 27, 2012 — Financial headlines FY 2011

• Revenue of €1,273 million and normalised EPS¹ of €0.31 at top end of guidance
• Broadened revenue with growth in all areas except for PNDs
• Net debt decreased from €294 million to €194 million; leverage ratio of 0.88

Financial headlines Q4 2011

• Group revenue of €357 million
  • Consumer revenue decreased by 40% year on year to €242 million
  • Automotive revenue increased by 2% year on year to €56 million
  • Licensing revenue increased by 3% year on year to €40 million
  • Business Solutions revenue increased by 19% year on year to €19 million
  • Content and Services revenue increased by 10% year on year to €107 million
• Net cash flow from operating activities of €134 million

Operational headlines Q4 2011

• Restructured organisation to reduce costs and increase effectiveness of R&D
• Signed aftermarket automotive deals with Ford and Opel
• Secured full control of map operations in India, Indonesia and Thailand
• Grew HD Traffic installed base to 1.5 million users; available in 23 countries
• Increased fleet management subscriber base to 180 thousand, up 34%
• Entered car lease market with telematics services

Outlook full year 2012

• We expect to deliver revenue of around €1.1 billion and adjusted EPS² of around €0.35

Key figures
(in € millions)				Q4 '11				Q4 '10				change				FY '11				FY '10				change
Revenue				357				516				-31%				1,273				1,521				-16%
Gross result				166				237				-30%				640				744				-14%
EBITDA				47				95								206				295
EBITDA (normalised)				61				96				-37%				221				299				-26%
Operating result				10				65								-425				186
Operating result (normalised)				24				66				-64%				102				190				-46%
Net result				12				52								-438				108
Net result (normalised)				17				50				-67%				68				107				-36%
EPS, € diluted				0.05				0.23								-1.97				0.49
EPS, € diluted (normalised)				0.07				0.22				-66%				0.31				0.48				-35%
Adjusted EPS, € diluted				0.16				0.29				-43%				0.55				0.70				-22%

1		Normalised results exclude restructuring and impairment charges to match the basis on which we provided our guidance for 2011. Normalised results exclude restructuring charges of €13.6 million in Q4 '11 (€1.3 million in Q4 '10), €14.8 million in FY '11 (€3.3 million in FY '10), a non-cash impairment charge of €512 million in FY '11 and the tax charge has been adjusted for impairment, restructuring and one-off gains (Q4 '11: €5.9 million, Q4 '10: €3.0 million, FY '11: €6.3 million, FY '10: €3.0 million)
2		Earnings per share adjusted for impairment, acquisition-related amortisation and restructuring charges on a post-tax basis

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