Slide 1: Q2 2012 results
Q2 2012 results Harold Goddijn – CEO Marina Wyatt – CFO 24 July 2012
Slide 2: Q2 financial summary
Q2 financial summary › Group revenue of €262 million › Weak economy impacts Consumer and Automotive sales › Aftermath of GPS chip related product issue affected US PND performance › New contract wins in Licensing but slower to come on stream › Strong growth in Business Solutions › Gross margin of 52
Slide 3: Operational developments
Operational developments › Consumer › 6” and Speech & GO PND launched › New range of Nike+ SportWatches introduced › Automotive › PSA content, software and services deal › Lexus new system customer win › New Renault Clio with R-Link announced › Licensing › Global deal with Apple for maps and related
Slide 4: Progress in changing company profile
Progress in changing company profile › Modular product approach is starting to pay off in Automotive › Consumer developing opportunities in fitness products while keeping its PND market position › Licensing focused on stronger sales execution and on building presence in traffic products › Accelerate
Slide 5: Revenue analysis
Revenue analysis Q2 2011: €314 million Q2 2012: €262 million Revenue by business unit Revenue by business unit Business Business Solutions Solutions Consumer 4% Consumer 7% 59% 67% Licensing 10% Licensing 11% Automotive Automotive 19% 23% Revenue by segment Revenue by segment Hardware Hardware C&S 6
Slide 6: Earnings overview
Earnings overview in € millions Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Gross result 141 160 173 166 114 136 Gross margin 53% 51% 51% 46% 49% 52% Operating expenses 123 142 132 156 114 122 Operating result 18 18 41 10 0 14 Operating margin 7% 6% 12% 3% 0% 5% Interest result (6) (6) (6) (4) (3) (3)
Slide 7: Cash flow
Cash flow in € millions Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Operating result 18 18 41 10 (0) 14 Depreciation and amortisation 26 28 28 37 28 27 Financial gains / (losses) (3) 2 (2) 8 3 1 Other (0) 2 1 (6) (4) 5 Changes in working capital (36) (74) 8 88 (11) (28) Cash generated from operations
Slide 8: Balance sheet
Balance sheet in € millions 31 Mar '11 30 Jun '11 30 Sep '11 31 Dec '11 31 Mar '12 30 Jun '12 Goodwill 855 382 382 382 382 382 Other intangible assets 938 902 896 872 861 847 Other non-current assets 64 61 57 47 46 44 Inventories 99 102 73 66 55 64 Receivables, prepayments & derivatives 179 251 273
Slide 9: Redemption profile and cash position
Redemption profile and cash position 200 Cash and cash equivalents 149 Net redemption amount 150 (in € millions) 100 90 100 75 75 50 0 › €48 million repaid ahead of schedule in 2012; leverage ratio of 0.96 and interest cover of 19 › Forward start facility in place comprising of €250 million term loa
Slide 10: Thank you Any questions?
Thank you Any questions?
Slide 11: Operating expenses development
Operating expenses development 60 156 44 47 160 42 41 43 38 142 40 R&D 132 20 123 122 120 114 0 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 60 80 40 30 Marketing 21 17 13 16 20 10 40 0 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 61 60 49 50 49 40 41 0 40 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 SG&A 20
Slide 12: Impact of FX rate changes
Impact of FX rate changes Q1 '12 results based on current exchange rates and that of previous quarters compared Q2 '12 Q2 '11 Q1 '12 in € millions rates rates rates Revenue 262 255 261 Cost of sales 126 116 125 Gross margin 52% 54% 52% Gross profit 136 139 136 P&L rates in € US dollar 1.30 1.45 1.31
Slide 13: Outstanding shares
Outstanding shares Common shares outstanding end of Q1 ‘12 221,895,012 Common shares outstanding end of Q2 ‘12 221,895,012 Average shares outstanding end of Q2 ‘12 221,895,012 In the money share options as of Q1 ‘12 0 In the money share options as of Q2 ‘12 0 Average potential dilutive share options
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