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Outlook 2017 updated
Hardware revenues were lower than planned because of disappointing Sports sales. The wearables market has fallen short of expectations. Because of this and because we want to focus on our Automotive, Licensing and Telematics businesses, we are reviewing strategic options for Sports.
As a result, we are updating our revenue outlook. We now expect to deliver full year revenue around the lower end of our guidance of between €925 million and €950 million. Adjusted EPS1 of around €0.25 remains unchanged.
We expect the combined revenue of the Automotive, Licensing and Telematics businesses to grow around 15% year on year in 2017.
We expect the level of investments (both CAPEX and OPEX) to show a modest increase compared with 20162, excluding acquisitions.
19 July 2017
1Earnings per fully diluted share count adjusted for acquisition-related expenses & gains and material restructuring costs on a post-tax basis.
2In 2016, CAPEX was €118 million and OPEX was €557 million. Year to date in 2017 we spent €24.5 million on acquisition related CAPEX.