Slide 1: TomTom Q4 2011 results
TomTom Q4 2011 results Harold Goddijn – CEO Marina Wyatt – CFO 28 February 2012
Slide 2: Summary full year and Q4 2011
Summary full year and Q4 2011 › Revenue of €1,273 million and normalised EPS of €0.31 at top end of guidance › Decline in PND market reduced Consumer revenue; growth in LIVE Services, map subscriptions and mobile › Automotive revenue grew strongly; growth lower in Q4 as automotive partners managed s
Slide 3: Q4 operational highlights
Q4 operational highlights › Consumer › GO LIVE 1005 WORLD introduced; TomTom HD Traffic available in 23 countries › PND ranges launched in China › Automotive › Aftermarket deal with Opel / Vauxhall and Ford › New Iveco Daily with TomTom semi integrated navigation system › Licensing › Historical and
Slide 4: Priorities
Priorities › Consumer • Manage performance in declining PND category • Broaden non-PND product offering › Automotive • Win new contracts • Create a fully componentised toolset to support our content and services only offering • Expand into more models, countries and increase take rates › Licensing •
Slide 5: New organisation focused around products
New organisation focused around products › 11 separate product units created › Product unit structure enables faster time to the market of innovations and better leverages our key map, traffic and navigation assets › Our goal is to reduce costs and increase the return on our R&D investments 5
Slide 6: Outlook 2012
Outlook 2012 › Revenue of around €1.1 billion › Operating expenses of approximately €500 million › Capital expenditure of approximately €65 million › Adjusted EPS of around €0.35 * *EPS adjusted for impairment, acquisition-related amortisation and restructuring charges on a post-tax basis and assume
Slide 7: Revenue analysis for the quarter
Revenue analysis for the quarter Q4 2010: €516 million Q4 2011: €357 million by business unit by business unit Business Business Solutions Solutions 5% Consumer 3% Consumer 68% Licensing 79% Licensing 7% 11% Automotive 11% Automotive 16% by segment by segment Hardware Hardware 70% 81% C&S C&S 19% 30
Slide 8: Revenue analysis for the year
Revenue analysis for the year FY 2010: €1,521 million FY 2011: €1,273 million by business unit by business unit Consumer Business 66% Business Solutions Solutions 5% Consumer 3% 76% Licensing Licensing 9% 11% Automotive Automotive 12% 18% by segment by segment Hardware Hardware 77% 68% C&S C&S 23% 3
Slide 9: Earnings overview for the quarter
Earnings overview for the quarter* in € millions Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Gross result 178 237 141 160 173 166 Gross margin 48% 46% 53% 51% 51% 46% Operating expenses 124 171 122 142 132 142 Operating result 54 66 19 18 41 24 Operating margin 15% 13% 7% 6% 12% 7% Interest result (10
Slide 10: Cash flow for the quarter
Cash flow for the quarter* in € millions Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Operating result 54 66 19 18 41 24 Restructuring charges 0 (1) (1) (0) (0) (14) Depreciation and amortisation 26 31 26 28 28 37 Financial gains / (losses) (1) (4) (3) 2 (2) 8 Other (0) 4 (0) 2 1 (6) Changes in working
Slide 11: Balance sheet
Balance sheet 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep 31 Dec in € millions '10 '10 '11 '11 '11 '11 Goodwill 855 855 855 382 382 382 Other intangible assets 958 946 938 902 896 872 Other non-current assets 67 69 64 61 57 47 Inventories 80 94 99 102 73 66 Receivables, prepayments & financial instruments 29
Slide 12: Debt and redemption development
Debt and redemption development › Current facility until YE ‘12; bi- 600 annually tested covenants of a € millions Gross debt leverage ratio of 2 and debt cover Net debt of 5 Redemption amount 400 › Forward start facility as from YE ‘12; bi-annually tested covenants of a leverage ratio of 3 and debt
Slide 13: Thank you Any questions?
Thank you Any questions?
Slide 14: Operating expenses
Operating expenses* 60 180 171 44 42 41 44 41 36 40 R&D 150 142 142 20 132 0 124 122 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 120 60 48 90 40 30 Marketing 17 17 19 20 10 60 0 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 30 60 53 50 54 47 49 49 40 0 SG&A Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 20 0 T
Slide 15: Earnings overview for the year
Earnings overview for the year* in € millions 2009 2010 2011 Gross result 731 744 640 Gross margin 49% 49% 50% Operating expenses 500 554 538 Operating result 231 190 102 Operating margin 16% 12% 8% Interest result (71) (35) (22) Other finance result (41) (16) 6 Result associates 3 (1) (0) Result be
Slide 16: Cash flow for the year
Cash flow for the year* in € millions 2009 2010 2011 Operating result 231 190 102 Restructuring charges (10) (3) (15) Depreciation and amortisation 106 109 119 Financial gains / (losses) (20) (12) 5 Other 6 8 (2) Changes in working capital 116 (26) (13) Cash generated from operations 430 265 195 Int
Slide 17: Impact of FX rate changes for the quarter
Impact of FX rate changes for the quarter Q4 '11 results based on current exchange rates and those of previous quarters compared Q4 '11 Q4 '10 Q3 '11 in € millions rates rates rates Revenue 357 357 351 Cost of sales 191 192 183 Gross margin 46% 46% 48% Gross profit 166 165 169 P&L rates in € US doll
Slide 18: Impact of FX rate changes for the year
Impact of FX rate changes for the year 2011 results based on current exchange rates and of previous year compared 2011 2010 in € millions rates rates Revenue 1,273 1,283 Cost of sales 634 659 Gross margin 50% 49% Gross profit 640 624 P&L rates in € US dollar 1.40 1.33 GB pound 0.87 0.86 AUS dollar 1
Slide 19: Outstanding shares
Outstanding shares Common shares outstanding end of Q3 ‘11 221,895,012 Common shares outstanding end of Q4 ‘11 221,895,012 Average shares outstanding in Q4 ‘11 221,895,012 In the money share options as of Q3 ‘11 0 In the money share options as of Q4 ‘11 0 Average potential dilutive share options out
Slide 20: 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