Enterprise revenue in Q1 '18 was €30 million compared with €33 million in the same quarter last year. This decline was mainly caused by a weaker US dollar.
In the quarter, Automotive business announced that both Hyundai and Kia expanded their connected car services to include TomTom On-Street and Off-Street Parking, TomTom EV Service, and TomTom Fuel Price Service. It will be available on all new Hyundai cars produced for Europe, starting from November 2018. For Kia drivers, it will be available starting with the next generation of Kia Ceed, and gradually applied to the whole model range by 2019.
At the Mobile World Congress in Barcelona, we announced a collaboration with Elektrobit, focused on demonstrating electronic horizon-based ADAS and autonomous driving functions, including features such as curve-speed warnings, fuel-efficient driving and range determination. The joint project will combine TomTom AutoStream and Elektrobit’s EB robinos Predictor to establish an easy-to-use demonstrator, evaluation and development platform for the automotive market.
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2 Our previous expectation, and based on
IAS 18 accounting standards, was a CAGR of 15% between 2016 and 2020.
2016 revenue has not materially changed under new IFRS accounting
standards.
We expanded several of our connected car services during the quarter. TomTom EV Service was launched in North America. The live service designed to assist drivers in making informed decisions about when and where to charge their vehicles, now includes more than 45,000 global charging stations with real-time availability information.
TomTom On-Street Parking service was expanded to 100 European cities. The service provides drivers with the probability of finding a parking space on the street, as well as the average search-time. We also launched TomTom Audio Traffic, where personalised traffic reports relevant to the specific route are delivered over voice to drivers.
Telematics
| (€ in millions, unless stated otherwise) | Q1 '18 | Q1 '17 |
y.o.y.
|
||||
| Subscriptions | 33.2 | 30.7 | 8% | ||||
| Hardware and other services1 | 9.6 | 9.3 | 3% | ||||
| Total Telematics revenue | 42.8 | 39.9 | 7% | ||||
| Monthly revenue per subscription (€) | 13.4 | 14.3 | -6% | ||||
| Subscriber installed base (# in thousands) | 826 | 723 | 14% |
