2017 figures are restated under the new IFRS 15 and IFRS 16 accounting standards.
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1 Earnings per fully diluted share count
adjusted for movement of deferred revenue, unbilled revenue, deferred
cost of sales, impairments and material restructuring and disposal costs
on a post-tax basis.
TomTom's Chief Executive Officer, Harold Goddijn
“TomTom started the year with a solid set of results. Nearly 70% of our revenues is now derived from data, software & services, boosting our gross margin. Automotive operational revenue in the quarter amounted to €78 million, an increase of 42% compared with the same quarter last year.”
Outlook 2018
We are re-iterating our guidance for the year.
| Revenue | ~ €800 million | |
| Gross margin | close to 70% | |
| Adjusted EPS | ~ €0.25 | |
| OPEX & CAPEX (excl. acquisitions) | ~ €700 million | |
For the period between 2016 and 2020, we expect the combined reported revenue of the Automotive, Enterprise and Telematics businesses to grow at a CAGR of around 12.5%, taking into account new IFRS accounting standards and current exchange rates.2
Financial and business review
Revenue for the first quarter amounted to €192 million, 10% lower compared with the same quarter last year (Q1 '17: €213 million). Automotive, Enterprise and Telematics jointly grew by 4% year on year, which was offset by lower Consumer revenue. Gross margin for the quarter equalled 70% (Q1 '17: 63%). The net result adjusted for movement of deferred revenue, unbilled revenue and deferred cost of sales on a post-tax basis was a gain of €22.6 million, which translates to an adjusted EPS of €0.10 (Q1 '17: -€0.03).
Automotive & Enterprise
| (€ in millions, unless stated otherwise) | Q1 '18 | Q1 '17 |
y.o.y.
|
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| Automotive | 49.7 | 44.7 | 11% | ||||
| Enterprise | 30.1 | 32.8 | -8% | ||||
| Total Automotive & Enterprise revenue | 79.8 | 77.5 | 3% | ||||
|
Change percentages and totals calculated before rounding. |
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