Apr 25 2007
TomTom Reports First Quarter Results
Increased market share in both Europe and North America
First quarter financial
highlights
Compared with Q1
2006
• Revenue increased by 16% to €296
million
• Revenue in North America increased by 121%
• 1.3 million portable navigation devices (PNDs) shipped,
up 75%
• Gross margin increased by 5 percentage points to
40%
• Operating margin of 19.1% compared with 19.6%
• Net profit increased by 42% to €44 million
• Fully diluted EPS increased by 37% to €0.37
Compared with Q4 2006
• Revenue decreased by 38% in line with seasonality in
the PND market
• PNDs shipped decreased by 31%
• Gross margin decreased by 6 percentage points
• Operating margin decreased by 7 percentage points
First quarter operational
highlights
• European PND market continues
to grow strongly
• Accelerating growth in the North American PND
market
• Strengthening of European and North American market
shares to 52% and 25% respectively (compares to 50% and 20% at the
end of 2006)
• Continued strong cash generation from operations of
€98 million
• Milestone of 1 million registered TomTom HOME users
passed
Outlook 2007
We re-iterate our full year
guidance. We estimate that we will deliver revenues of
between €1.6 billion and €1.8 billion and we continue to
target a gross margin of around 40% of revenue and an operating
margin of around 20% of revenue.
Key figures
| (unaudited) (in € millions) | Q1 ‘07 | Q1 ‘06 | change | Q4 ‘06 | ||
| |
||||||
| Revenue | 296 | 256 | 16% | 478 | ||
| Gross profit | 118 | 89 | 33% | 218 | ||
| Gross margin | 40.0% | 34.7% | 45.7% | |||
| |
||||||
| Operating profit | 57 | 50 | 14% | 126 | ||
| Operating margin | 19.1% | 19.6% | 26.3% | |||
| |
||||||
| Net profit | 44 | 31 | 42% | 80 | ||
| |
||||||
| EPS – fully diluted (€ per share) | .37 | .27 | 37% | .68 |
* percentages are based on rounded figures
View the full First quarter results release 2007 in PDF format (137KB)
