Slide 1: TomTom Q1 2011 results
TomTom Q1 2011 results Harold Goddijn – CEO Marina Wyatt – CFO 27 April 2011
Slide 2: Q1 summary
Q1 summary › Revenue guidance reduced to between €1,425 and 1,475 million ; EPS guidance unchanged › Consumer revenue down €30 million; European market size in line, recent weakness in North America › Content and Services revenue grew by 20% to 96 million › A tomoti e revenue Automotive e en e grew
Slide 3: Operational developments
Operational developments › Consumer › LIVE Services announced, GO LIVE announced and VIA model launched in th US market the k t › Nike+ SportWatch GPS well received by the market › Automotive › First LIVE Services subscriptions sold by OEM customers › Blue&Me TomTom LIVE extended to the Lancia Ypsil
Slide 4: Outlook 2011
Outlook 2011 › Full year revenue expected of between €1,425 and €1,475 million o › Weakening trend in market size in North America › Decrease in PND revenues cannot be fully compensated for by Automotive and further growth of Content & Services revenue › Maintain guidance for broadly flat EPS compar
Slide 5: PND market size and share
PND market size and share › Market size › Europe 2.4 million units (Q1 '10: 2.7 million) › North America 2.1 million units (Q1 '10: 2.6 million) › Market share stable in Europe and 2% increase in North America Europe* North America* 50% 50% 40% 40% 30% 30% 20% 47% 47% 20% 10% 10% 22% 24% 0% 0% Q1 '1
Slide 6: Revenue analysis
Revenue analysis Revenue Q1 '11 11 of €265 million versus Q1 '10 10 of €268 million Q1 '11 by business unit Q1 '10 by business unit Business Business Solutions Solutions 5% Consumer 5% Consumer 69% Licensing 59 % 13 % Licensing 11% Automotive Automotive 23 % 15% Q1 '11 by segment Q1 '10 by segment H
Slide 7: Earnings overview
Earnings overview in € millions Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Gross result 144 185 178 237 141 Gross margin 54% 51% 48% 46% 53% Operating expenses 127 135 123 172 123 Operating result 17 50 55 65 18 Operating margin 6% 14% 15% 13% 7% Interest result (8) (9) (10) (8) (6) Other financial result (
Slide 8: Cash flow
Cash flow in € millions Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Operating result 17 50 55 65 18 Depreciation and d amortisation 27 26 26 31 26 Financial (losses) / gains (10) 4 (1) (4) (3) Other (3) 7 0 4 0 Changes in working capital (54) (5) (16) 48 (36) Cash generated from operations (23) 82 63 143 6 I
Slide 9: Balance sheet
Balance sheet 31 Mar 30 Jun 30 Sep 31 Dec 31 Mar in € millions '10 '10 '10 '10 '11 Goodwill 855 855 855 855 855 Other intangible assets 978 965 958 946 938 Other non‐current assets 74 70 67 69 64 Inventories 61 63 80 94 99 Receivables, prepayments & financial instruments 222 315 291 353 179 Cash and
Slide 10: Redemption profile and cash position
Redemption profile and cash position € millions 300 289 210 200 Cash and cash equivalents 138 Redemption amount 100 100 75 75 0 › New term loan and revolving credit facilities in place › Financial resources for ongoing strategic and operational requirements beyond term of existing facility 9
Slide 11: Thank you Any questions?
Thank you Any questions?
Slide 12: Operating expenses
Operating expenses 60 180 172 41 40 44 42 36 40 R&D 160 20 0 135 140 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 127 123 123 120 60 48 40 100 Marketing 15 24 17 20 10 80 0 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 60 60 51 54 49 48 47 40 40 SG&A Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 20 0 Total OPEX Q1 '10 Q2 '10 Q3 '1
Slide 13: Impact of FX rate changes
Impact of FX rate changes Q1 '11 11 results based on current exchange rates and that of previous quarters compared Q1 '11 Q1 '10 Q4 '10 in € millions rates rates rates Revenue 265 262 265 Cost of sales 124 122 125 Gross margin 53% 54% 53% Gross profit 141 140 140 P&L rates in € US dollar 1.36 1.40 1
Slide 14: Outstanding Shares
Outstanding Shares Common shares outstanding at the end of Q4 '10 221,808,085 Common shares outstanding at the end of Q1 '11 221,881,693 Average shares outstanding in Q1 '11 221,833,023 In the money share options at the end of Q4 '10 12,300,172 In the money share options at the end of Q1 '11 12,013,
Slide 15: 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