Slide 1: TomTom Q3 2012 results
TomTom Q3 2012 results Harold Goddijn – CEO Marina Wyatt – CFO 30 October 2012
Slide 2: Q3 financial summary
Q3 financial summary › Group revenue of €274 million (Q3 ‘11: €336 million) › Consumer revenue in line with expectations › Weak European economy impacting Automotive › Business Solutions double digit growth in revenue › Gross margin of 55% (Q3 ‘11: 51%) › OPEX reduction of 10%, ahead of schedule › A
Slide 3: Operational highlights
Operational highlights › Consumer › Android navigation app launched › Hands Free Car Kits for smartphones introduced › TomTom GO LIVE PND for BMW models › Automotive › Global content, software and services agreement with PSA signed › Mazda and Fiat relationships extended with Mazda6 and Abarth model
Slide 4: Outlook 2012
Outlook 2012 › Revenue of around €1.05 billion › Operating expenses of approximately €485 million › Adjusted EPS of around €0.35 › Capital expenditure of approximately €60 million 4
Slide 5: Revenue analysis
Revenue analysis Q3 2011: €336 million Q3 2012: €274 million Revenue by business unit Revenue by business unit Business Business Solutions Solutions 5% Consumer Consumer 67% 7% 63% Licensing 11% Licensing 12% Automotive Automotive 17% 18% Revenue by segment Revenue by segment Hardware Hardware 68% 6
Slide 6: Earnings overview
Earnings overview in € millions Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Gross result 160 173 166 114 136 150 Gross margin 51% 51% 46% 49% 52% 55% Operating expenses 142 132 156 114 122 118 Operating result 18 41 10 (0) 14 32 Operating margin 6% 12% 3% 0% 5% 12% Interest result (6) (6) (4) (3) (3)
Slide 7: Cash flow
Cash flow in € millions Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Operating result 18 41 10 (0) 14 32 Depreciation and amortisation 28 28 37 28 27 27 Financial (losses)/gains 2 (2) 8 3 1 (0) Other 2 1 (6) (4) 5 (5) Changes in working capital (74) 8 88 (11) (28) 0 Cash generated from operations (23)
Slide 8: Balance sheet
Balance sheet in € millions 30 Jun '11 30 Sep '11 31 Dec '11 31 Mar '12 30 Jun '12 30 Sep '12 Goodwill 382 382 382 382 382 382 Other intangible assets 902 896 872 861 847 836 Other non-current assets 61 57 47 46 44 41 Inventories 102 73 66 55 64 59 Receivables, prepayments & derivatives 251 273 239
Slide 9: Thank you Any questions?
Thank you Any questions?
Slide 10: Operating expenses development
Operating expenses development 60 156 44 47 160 41 43 40 38 40 142 R&D 132 20 122 118 120 114 0 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 60 80 40 30 Marketing 17 21 16 20 13 15 0 40 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 61 60 50 49 40 41 42 0 40 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 SG&A 20
Slide 11: Redemption profile and cash position
Redemption profile and cash position 250 Cash and cash equivalents Net redemption amount 200 137 (in € millions) 150 100 75 75 100 40 50 0 › €50 million repaid ahead of schedule; leverage ratio 0.8 and interest cover 21 › Forward start facility as from YE ‘12; bi-annually tested covenants of a lever
Slide 12: Impact of FX rate changes
Impact of FX rate changes Q3 '12 results based on current exchange rates and that of previous quarters compared Q3 '12 Q3 '11 Q2 '12 in € millions rates rates rates Revenue 274 260 270 Cost of sales 123 111 120 Gross margin 55% 57% 55% Gross profit 150 149 150 P&L rates in € US dollar 1.25 1.44 1.30
Slide 13: Outstanding shares
Outstanding shares Common shares outstanding end of Q2 ‘12 221,895,012 Common shares outstanding end of Q3 ‘12 221,895,012 Average shares outstanding end of Q3 ‘12 221,895,012 In the money share options as of Q2 ‘12 0 In the money share options as of Q3 ’12* 745,000 Average potential dilutive share
Slide 14: Disclaimer
Disclaimer This Presentation has been produced by TomTom N.V. (the “Company”) and is furnished to you solely for your information. This document contains certain forward-looking statements relating to the business, financial performance and results of the Company and the industry in which it operate