TomTom Reports Fourth Quarter and Full Year 2017 Results

Adjusted EPS calculation

In 2018, TomTom changed the definition of adjusted EPS to better reflect the transition of its business model towards a software and services company. Adjusted net result is now calculated as net result attributed to equity holders adjusted for movement of deferred and unbilled revenue, deferred cost of sales, impairments and material restructuring and disposal costs on a post-tax basis. Below table shows the calculations of adjusted EPS, using the old and the new definitions and taking into account different accounting standards.

                 
(€ in millions, unless stated otherwise)     FY '17   Restated FY '17   Restated FY '17  
Definition     Old definition   Old definition   New definition
Accounting standards     As applicable in 2017   IFRS 15 and IFRS 16   IFRS 15 and IFRS 16  
                 
Net result     -204.4   -194.4   -194.4  
Net result attributed to equity holders -204.0 -194.0 -194.0
Impairment charge 168.7 168.7 168.7
Acquisition-related expenses 72.2 72.2 11.3
Restructuring charge and disposals 44.6 44.6 44.6
Remeasurement of deferred tax liability 4.6 4.6 4.6
Deferred/unbilled revenue movement 25.1
Deferred cost of sales movement -1.0
Tax effect of adjustments     -24.9   -24.9   -17.0  
Adjusted net result     61.3   71.2   42.3  
                 
Adjusted EPS, € fully diluted     0.26   0.30   0.18  
 
 

TOMTOM NV

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