TomTom Reports Fourth Quarter and Full Year 2015 Results
[ Back ]   [ More News ]   [ Home ]
TomTom Reports Fourth Quarter and Full Year 2015 Results

AMSTERDAM — (BUSINESS WIRE) — February 8, 2016Financial summary Q4 '15

Financial summary FY '15

Operational summary

Outlook 2016

Key figures

                                   

(€ in millions, unless stated
otherwise)

  Q4 '15     Q4 '14    

y.o.y.
change

    FY '15     FY '14    

y.o.y.
change

                                   
Consumer   175.9     172.1     2%     623.6     619.1     1%
Automotive 30.3 23.6 28% 105.9 109.4 -3%
Licensing 39.3 31.6 24% 142.1 111.6 27%
Telematics   37.0     31.1     19%     135.0     110.2     22%
REVENUE   282.5     258.4     9%     1,006.6     950.3     6%
                                   
GROSS RESULT 139.0 132.9 5% 518.5 523.3 -1%
Gross margin   49%     51%           52%     55%      
                                   
EBITDA 41.7 28.2 48% 123.7 135.8 -9%
EBITDA margin   15%     11%           12%     14%      
                                   
OPERATING RESULT (EBIT) 0.2 1.5 0.6 21.1
EBIT margin   0%     1%           0%     2%      
                                   
NET RESULT 20.9 0.5 18.3 22.7 -19%
ADJUSTED NET RESULT   23.1     9.7           49.6     60.3     -18%
                                   
EPS, € fully diluted 0.09 0.00 0.08 0.10 -22%
Adjusted EPS1, € fully diluted   0.10     0.04           0.21     0.27     -20%
 

Change percentages are based on non-rounded figures.

 

TomTom's Chief Executive Officer, Harold Goddijn

“We delivered top-line growth in 2015, for the first time in five years. The weakening of the euro in combination with higher investments in our core technologies affected our profitability negatively in 2015. As a result, our EBIT for the year was at break-even. The net result for 2015 was €18 million, which translates to adjusted earnings per share of €0.21.

Consumer continued to make further inroads in establishing a multi-product consumer business with GPS sport watches and action cameras. Automotive broke the 2014 record of new bookings, Licensing delivered strong growth through existing and new customers and Telematics saw continued strong growth in installed base and recurring revenue.

We made substantial progress with our core technologies across the group. We completed the move to our new map-making platform this year. This platform is the first of its kind in the industry and a leap forward in map-making technologies. We have integrated the NDS map format into our navigation software on device-based and server-based navigation applications and we continued to increase our market share in traffic, increasing our global coverage and enhancing our traffic services.

Our skills and expertise in location data and technologies give us confidence that TomTom is well positioned to capture on growing opportunities in the area of Autonomous Driving, Connected Car, Fleet Management services and Consumer Wearables.”

Outlook 2016

In 2016, we plan for revenue to grow to around €1,050 million. Adjusted EPS1 is expected to grow by around 10% to €0.23.

We expect the level of investment (both CAPEX and OPEX) in our core technologies to be higher than last year. In particular, we are investing in advanced content and software for the automotive industry (e.g. to enable Autonomous Driving) and in our new map-making platform.

Financial and business review

Group revenue

We generated revenue of €282 million in the fourth quarter, an increase of 9% compared with €258 million in Q4 '14. We saw growth coming through across all four business units in the quarter.

In 2015, we delivered revenue of over €1 billon, 6% higher compared with €950 million in 2014. Our Licensing, Telematics and Consumer Sports businesses grew strongly to offset the reduction in PND revenue, which remained the biggest revenue contributor for the group. Our Automotive business showed a modest decline year on year. This decline is mainly due to the phasing out of certain legacy contracts.

Consumer

                                     

(€ in millions, unless stated otherwise)

    Q4 '15     Q4 '14    

y.o.y.
change

    FY '15     FY '14    

y.o.y.
change

                                     
Consumer products     156.7     155.7     1%     551.2     548.4     1%
Automotive hardware     19.2     16.4     17%     72.4     70.7     2%
Total Consumer revenue     175.9     172.1     2%     623.6     619.1     1%
     

 

                             
Consumer segment EBITDA 14.1 55.3 -75%
EBITDA margin (%) 2% 9%
Consumer segment EBIT 2.6 36.2 -93%
EBIT margin (%)                       0%     6%      
                                     
Key PND market data

Europe2

Market size (# units sold in millions) 1.8 2.0 -10% 6.8 7.4 -8%
TomTom market share 54% 53% 52% 52%

North America

Market size (# units sold in millions) 0.9 1.3 -28% 3.2 4.0 -22%
TomTom market share     15%     13%           17%     15%      
 

Change percentages are based on non-rounded figures.

 

Total Consumer revenue for the quarter was €176 million, an increase of 2% compared with €172 million in Q4 '14. Total Consumer products revenue amounted to €157 million in the quarter, €1 million higher than in the same quarter last year (Q4 '14: €156 million). The Automotive hardware revenue increased by 17% year on year to €19 million in the quarter (Q4 '14: €16 million). This year on year increase was mainly due to changes in the product mix.

On a full year basis, Consumer products revenue increased by 1% and amounted to €551 million (FY '14: €548 million). The year on year growth was mainly driven by a strong growth in our Sports category, partially offset by modestly lower PND revenue.

Our PND business developed better than the market in 2015. We maintained our leading market position in Europe, improved our market share in North America and we strengthened our average selling price (ASP), which resulted in value share growth and a modest decline of our PND revenue in 2015. Sports revenue amounted to €69 million in 2015, an increase of 40% compared with last year (FY '14: €50 million). We shipped over 600,000 GPS sport watches in 2015.

Automotive

                                     
(€ in millions, unless stated otherwise)     Q4 '15     Q4 '14    

y.o.y.
change

    FY '15     FY '14    

y.o.y.
change

                                     
Automotive revenue     30.3     23.6     28%     105.9     109.4     -3%
                                     
Automotive segment EBITDA                 26.1     20.1     30%
EBITDA margin (%) 25% 18%
Automotive segment EBIT -33.9 -28.7 18%
EBIT margin (%)                       -32%     -26%      
 

Change percentages are based on non-rounded figures.

 

Automotive revenue for the quarter was €30 million, a 28% increase year on year mainly reflecting increase in maps and traffic revenue of recently announced contracts.

On a full year basis, Automotive revenue was €106 million compared with €109 million last year. The modest year on year decline was mainly the result of the phasing out of certain legacy contracts in combination with a higher share of deferred revenue compared with 2014. Deferred revenue in Automotive relates to map and traffic services from recent contract wins that will be delivered over time. As a result, the IFRS recognition of our Automotive revenue includes deferral elements as of 2014, which impacts the year on year comparison. A breakdown of deferred revenue is provided in the Balance sheet section.

We announced that BMW has chosen our traffic information in Russia, Australia and New Zealand. The service is available cross car-line as part of the ‘Connected Drive’ offer on BMW vehicles. In addition, Daimler chose our navigation services for its new ‘Mercedes me’ app. We also launched HD test map data for all interstate roads in California and all interstates and freeways in Michigan. By delivering TomTom’s HD Map and RoadDNA products for states that serve as testing grounds for driverless cars, we enable the automotive industry to bring autonomous driving closer to reality.

Licensing

                                     
(€ in millions, unless stated otherwise)     Q4 '15     Q4 '14    

y.o.y.
change

    FY '15     FY '14    

y.o.y.
change

                                     
Licensing revenue     39.3     31.6     24%     142.1     111.6     27%
                                     
Licensing segment EBITDA                 42.3     30.1     41%
EBITDA margin (%) 30% 27%
Licensing segment EBIT 0.0 -11.4 -100%
EBIT margin (%)                       0%     -10%      
 

Change percentages are based on non-rounded figures.

 

Our Licensing revenue in Q4 '15 was €39 million, 24% higher compared with the same quarter last year (Q4 '14: €32 million). On a full year basis, Licensing reported total revenue of €142 million, a 27% increase compared with €112 million in 2014. The increase in revenue was driven by the renewal and increased scope of existing contracts, addition of new customers as well as a good progress made in the Geospatial segment.

In the quarter, we announced a new global, multi-year agreement with Uber to provide our global maps and traffic products for their Uber driver application.

Telematics

                                     
(€ in millions, unless stated otherwise)     Q4 '15¹     Q4 '14    

y.o.y.
change

    FY '15¹     FY '14    

y.o.y.
change

                                     
Hardware and other services revenue2     11.0     9.7     14%     37.2     34.6     7%
Subscription revenue     26.0     21.4     22%     97.8     75.6     29%
Total Telematics revenue     37.0     31.1     19%     135.0     110.2     22%
                                     
Telematics segment EBITDA 49.0 39.1 25%
EBITDA margin (%) 36% 35%
Telematics segment EBIT 39.7 33.8 17%
EBIT margin (%)                       29%     31%      
                                     
Monthly subscription ARPU (€) 15.8 16.3 -3% 15.9 16.2 -2%
Subscriber installed base (# in thousands)                       605     464     30%
 
Change percentages are based on non-rounded figures.

1 Q4 ’15 and FY ‘15 financial metrics and YoY change percentages exclude Finder; the acquisition is effective as of the end of December 2015.

2 Other services revenue comprises installation services and separately purchased traffic service and/or map content.

 

Telematics revenue for the quarter was €37 million, a 19% increase compared with €31 million in Q4 '14. The recurring SaaS revenue amounted to €26 million for the quarter, 22% higher compared with the same quarter last year. This increase was driven by the strong growth in the subscriber installed base. On a full year basis, Telematics generated revenue of €135 million, which represents a 22% growth year on year (FY '14: €110 million).

At the end of December 2015, Telematics completed the acquisition of Finder, a leading fleet management solutions provider in Poland, which added over 60,000 vehicles to our installed base. This acquisition strengthens our market position in one of the fastest growing telematics markets in Europe. At the end of the year, Telematics reported over 40,000 customers, the largest fleet management systems customer base in the world, and an installed base of 605,000 active subscribers, a 30% increase from 464,000 at the start of 2015.

Hardware and Content & Services revenue split

                                     
(€ in millions, unless stated otherwise)     Q4 '15     Q4 '14    

y.o.y.
change

    FY '15     FY '14    

y.o.y.
change

                                     
Hardware revenue     163.0     156.5     4%     557.8     542.8     3%
Content & Services revenue     119.5     101.9     17%     448.8     407.5     10%
Total revenue     282.5     258.4     9%     1,006.6     950.3     6%
 

Change percentages are based on non-rounded figures.

 

Hardware revenue for the quarter was €163 million compared with €156 million in Q4 '14. Content & Services revenue in the quarter was €120 million, 17% higher compared with €102 million in Q4 '14, mainly due to growing Telematics subscription revenue as well as higher revenue in both Automotive and Licensing. As a percentage of revenue, Content & Services revenue increased to 42% from 39% in Q4 '14.

On a full year basis, revenue from Content & Services was €449 million (FY '14: €407 million) and accounted for 45% of total revenue (FY '14: 43%).

Geographical revenue split

                   
(€ in millions, unless stated otherwise)     FY '15     FY '14     y.o.y. change
                   
Europe2     771.5     718.8     7%
North America 186.1 163.5 14%
Rest of the world     49.0     68.1     -28%
Total revenue     1,006.6     950.3     6%
 

Change percentages are based on non-rounded figures

 

From a regional perspective, 77% of 2015 revenue was generated in Europe2 (FY '14: 76%), 18% in North America (FY '14: 17%) and the remaining 5% in the rest of the world (FY '14: 7%).

Gross margin

The gross margin for the quarter was 49% compared with 51% in the same quarter last year. In the quarter, we recorded an impairment charge of €11 million related to certain Automotive customer specific technology as part of cost of sales.

On a full year basis, gross margin was 52% compared with 55% last year. Gross margin in 2015 was negatively impacted by the above-mentioned impairment charge as well as the weakening of the euro against the US dollar, partly offset by relatively higher share of Content & Services revenue. At constant currency rates for the US dollar and GB pound, our gross margin for Q4 ’15 and FY ’15 would have been 53% and 56% respectively.

Operating expenses

Total operating expenses for the quarter were €139 million, which is €7.4 million higher compared with the same quarter last year (Q4 '14: €131 million). The higher operating expenses were mainly driven by an increase in marketing expenses and to a lesser extent R&D.

On a full year basis, total operating expenses amounted to €518 million compared with €502 million in 2014. The increase in operating expenses was mainly driven by higher personnel expenses and marketing expenses, partly offset by a decrease in depreciation and amortisation as well as a one-off gain from a settlement of a litigation case.

As a result of the above-mentioned increase in operating expenses and the decrease in gross margin, our EBIT for the year was at break-even compared with €21 million last year.

FX sensitivity

Actual key Q4 '15 / FY '15 financials recalculated
based on last year (Q4 '14 / FY '14) FX rates
(€ in millions, unless stated otherwise)

    Q4 '15

actual
reported
    Q4 '15
recalculated at
Q4 '14

FX rates1

    FY '15

actual
reported
    FY '15
recalculated at
FY '14

FX rates1

                         
Revenue     282.5     274.6     1,006.6     970.1
 
Gross result 139.0 145.1 518.5 543.9
Gross margin 49% 53% 52% 56%
 
EBIT 0.2 9.6 0.6 40.5
EBIT margin 0% 3% 0% 4%
 
P&L RATES IN € Q4 '15 Q4 '14 FY '15 FY '14
US dollar 1.09 1.25 1.11 1.33
GB pound     0.72     0.79     0.73     0.81
 

1The Q4 '15 / FY '15 income and expense in US dollar and GB pound have been converted to euro using Q4 '14 / FY '14 average rates. All other foreign currencies have not been converted.

 

Depreciation, amortisation and impairment

                                     
(€ in millions)     Q4 '15     Q4 '14    

y.o.y.
change¹

    FY '15     FY '14    

y.o.y.
change

                                     
Depreciation     4.2     3.3     28%     14.5     12.6     15%
Amortisation of technology and databases 19.9 19.6 2% 76.7 88.1 -13%
Other amortisation2     17.4     3.8           31.9     14.0      
Total depreciation, amortisation and impairment     41.5     26.7     55%     123.1     114.7     7%
Of which acquisition-related amortisation     13.1     12.3     7%     52.1     50.3     3%
 

¹Change percentages are based on non-rounded figures

²Includes an impairment of €11 million on certain customer assets recorded as part of cost of sales.

 

Total depreciation, amortisation and impairment amounted to €42 million in the quarter, 55% higher compared with last year (FY '14: €27 million). Acquisition-related amortisation was €13 million in Q4 '15 (Q4 '14: €12 million).

On a full year basis, acquisition-related amortisation amounted to €52 million in 2015, 3% higher compared with last year (FY '14: €50 million). This reflects increased amortisation charges from our Telematics acquisitions as well as the 2015 acquisition of Location Navigation Pty. Ltd., offset by lower amortisation from certain map-making tools that have been fully amortised in 2014.

Financial income and expenses

The net interest charge for the quarter was €0.2 million versus a net interest charge of €1.1 million in Q4 '14. The decrease is mainly due to lower interest rates applied against lower utilised amounts from our credit facility throughout 2015. The other financial result for the quarter was a loss of €2.4 million (Q4 '14: loss of €1.6 million), which consisted primarily of foreign exchange losses from the revaluation of monetary balance sheet items partially offset by our hedging results.

On a full year basis, the total financial income and expense charge amounted to €8 million compared with €7 million in 2014.

Income tax

The net income tax for the quarter was a gain of €23 million versus a net income tax gain of €2 million in Q4 '14. The net income tax for the year was a gain of €26 million, mainly as the result of remeasuring certain deferred tax assets and liabilities to a lower rate due to the application of the innovation box facility in the Netherlands, as well as some other one-off releases of provisions.

Net result and adjusted EPS

                                     
(€ in millions, unless stated otherwise)     Q4 '15     Q4 '14    

y.o.y.
change

    FY '15     FY '14    

y.o.y.
change

                                     
Net result     20.9     0.5           18.3     22.7     -19%
Net result attributed to equity holders     20.8     0.5         18.1     22.6     -20%
Remeasurement of deferred tax liability -7.5 -7.5
Acquisition-related amortisation 13.1 12.3 7% 52.1 50.3 3%
Tax effect of adjustments     -3.3     -3.1     7%     -13.0     -12.6     3%
Adjusted net result     23.1     9.7     139%     49.6     60.3     -18%
                                     
Adjusted EPS, € fully diluted     0.10     0.04     128%     0.21     0.27     -20%
 

Change percentages are based on non-rounded figures.

 

The net result for the quarter was €21 million compared with €0.5 million in Q4 '14. The net result adjusted for acquisition-related amortisation & gain on a post-tax basis and the remeasurement of our deferred tax liability was €23 million compared with €10 million in Q4 '14.

Adjusted EPS for the quarter was €0.10 versus €0.04 in Q4 '14. Adjusted EPS for 2015 was €0.21 (FY '14: €0.27).

Balance sheet

At the end of the quarter, trade receivables plus other receivables amounted to €192 million compared with €166 million at the end of Q4 '14. The inventory level was €49 million, slightly higher compared with the end of the same quarter last year. Cash and cash equivalents at the end of the quarter were €148 million versus €153 million at the end of Q4 '14.

Total current liabilities excluding deferred revenue amounted to €293 million compared with €291 million at the end of Q4 '14. The increase mainly came from higher trade payables and short term borrowings balance offset by lower accruals.

Deferred revenue was €187 million at the end of Q4 '15, compared with €146 million at the end of the same quarter last year. The year on year increase reflects the increasing number of products with lifetime service offerings within Consumer, as well as an increased deferred revenue position related to Licensing and Automotive contracts with upfront payments.

Deferred revenue balance by segment

                   
(€ in millions)     31 December 2015     31 December 2014    

y.o.y.
change

                   
Consumer     130.4     104.8     25.6
Automotive 22.6 12.6 10.0
Licensing 31.2 25.6 5.6
Telematics     2.7     2.7     0
Total deferred revenue     186.9     145.7     41.2
 

Change amounts are based on non-rounded figures.

 

At 31 December 2015, we reported a net cash position of €98 million (Q4 '14: net cash of €103 million). Net cash is the sum of the cash and cash equivalents at the end of the period (€148 million) minus the borrowings (€49 million).

Cash flow

The cash flow from operating activities for the quarter was €58 million compared with €32 million in Q4 '14. The year on year increase was mainly driven by lower utilisation of working capital. On a full year basis, cash flow from operating activities remained at the same level as in 2014 and amounted to €119 million.

The cash flow used in investing activities during the quarter increased by €21 million year on year to €55 million mainly due to our recent Telematics acquisition in Poland. On a full year basis, the cash flow used in investing activities was €154 million, an increase of €48 million year on year. The majority of the investments related to two acquisitions as well as investments in our new transactional map-making platform, the NDS-based navigation system and customer specific investments in Automotive.

In the quarter, 0.9 million options related to our long-term employee incentive programmes were exercised resulting in a €4.5 million cash inflow. The net cash inflow from the exercise of options for the full year 2015 amounted to €34 million.

- END –

Consolidated condensed statement of income

(€ in thousands)    

Q4 '15
Unaudited

   

Q4 '14
Unaudited

   

FY '15
Audited

   

FY '14
Audited

                         
Revenue     282,488     258,399     1,006,607     950,292
Cost of sales     143,523     125,517     488,080     426,966
Gross result     138,965     132,882     518,527     523,326
                         
Research and development expenses 46,807 45,559 185,443 174,014
Amortisation of technology and databases 19,939 19,578 76,694 88,100
Marketing expenses 25,777 19,768 83,438 69,559
Selling, general and administrative expenses     46,239     46,449     172,352     170,539
Total operating expenses     138,762     131,354     517,927     502,212
                         
Operating result     203     1,528     600     21,114
                         
Interest result -170 -1,118 -925 -3,145
Other financial result -2,437 -1,581 -7,343 -3,720
Result of associates     164     81     167     374
Result before tax     -2,240     -1,090     -7,501     14,623
                         
Income tax gain     23,179     1,558     25,794     8,032
Net result     20,939     468     18,293     22,655
 
Net result attributable to:                        
Equity holders of the parent 20,824 466 18,122 22,549
Non-controlling interests     115     2     171     106
Net result     20,939     468     18,293     22,655
                         
Basic number of shares (in thousands) 230,131 223,540 227,771 222,689
Diluted number of shares (in thousands)     237,656     226,428     232,378     225,122
                         
EPS, € basic 0.09 0.00 0.08 0.10
EPS, € diluted     0.09     0.00     0.08     0.10
 

Consolidated condensed balance sheet

(€ in thousands)    

31 December 2015
Audited

   

31 December 2014
Audited

             
Goodwill     403,437     381,569
Other intangible assets 810,908 800,583
Property, plant and equipment 38,869 30,294
Investments in associates 3,546 3,289
Deferred tax assets     33,493     18,438
Total non-current assets     1,290,253     1,234,173
             
Inventories 48,657 46,575
Trade receivables 138,593 133,266
Other receivables and prepayments 53,533 33,198
Other financial assets 967 1,186
Cash and cash equivalents     147,565     152,949
Total current assets     389,315     367,174
             
Total assets     1,679,568     1,601,347
             
Share capital 46,099 44,714
Share premium 1,035,451 986,683
Other reserves 228,216 202,289
Accumulated deficit     -340,956     -335,163
Equity attributable to equity holders of the parent     968,810     898,523
Non-controlling interests     1,723     2,073
Total equity     970,533     900,596
             
Borrowings 44,254 48,925
Deferred tax liability 149,806 166,551
Provisions 35,065 48,496
Deferred revenue     83,726     54,963
Total non-current liabilities     312,851     318,935
             
Trade payables 94,951 88,218
Income taxes 4,382 6,621
Other taxes and social security 13,056 11,492
Borrowings 4,287 0
Provisions 32,573 34,074
Deferred revenue 103,147 90,717
Accruals and other liabilities     143,788     150,694
Total current liabilities     396,184     381,816
             
Total equity and liabilities     1,679,568     1,601,347
 

Consolidated condensed statements of cash flows

                         

(€ in thousands)

   

Q4 '15

Unaudited

   

Q4 '14

Unaudited

   

FY '15

Audited

   

FY '14

Audited

                         

Operating result

   

203

   

1,528

   

600

   

21,114

Financial gains/(losses)

278

-2,452

-2,364

-1,956

Depreciation,amortisation and impairment

41,536

26,696

123,096

114,711

Equity-settled stock compensation expenses

1,046

1,278

3,788

4,126

Change in provisions

-9,311

-3,905

-15,386

-3,702

Changes in working capital:

Change in inventories

8,968

7,599

2,468

-3,549

Change in receivables and prepayments

17,257

3,574

-18,038

-11,592

Change in liabilities (excluding provisions)3

    -1,645     3,790     29,115     15,568
Cash generated from operations     58,332     38,108     123,279     134,720
                         
Interest received 112 158 504 1,467
Interest paid -57 -1,470 -958 -3,817
Corporate income taxes paid     -830     -4,416     -4,050     -13,741
Cash flows from operating activities     57,557     32,380     118,775     118,629
                         
Investments in intangible assets -22,889 -18,528 -86,154 -72,700
Investments in property, plant and equipment -4,018 -4,592 -21,577 -16,564
Acquisition of subsidiaries and other businesses -28,175 -10,776 -46,651 -17,280
Dividend received     62     58     167     58
Cash flows from investing activities     -55,020     -33,838     -154,215     -106,486
                         
Repayment of borrowings 0 -175,000 0 -175,000
Change in utilisation of credit facility 15,000 50,000 -5,000 50,000
Change in non-controlling interest 0 0 -126 0
Dividends paid 0 -177 0 -177
Proceeds on issue of ordinary shares     4,484     977     34,397     6,794
Cash flows from financing activities     19,484     -124,200     29,271     -118,383
                         
Net increase / (decrease) in cash and cash equivalents 22,021 -125,658 -6,169 -106,240
Cash and cash equivalents at the beginning of period 124,427 278,621 152,949 257,785

Effect of exchange rate changes on cash
balances held in foreign currencies

    1,117     -14     785     1,404
Cash and cash equivalents at end of period     147,565     152,949     147,565     152,949
 

Accounting policies - basis of accounting

The condensed consolidated financial information for the three-month and twelve-month periods ended 31 December 2015 with related comparative information has been prepared using accounting policies which are based on International Financial Reporting Standards (IFRS). Accounting policies and methods of computation followed in the condensed consolidated financial information, for the period ended 31 December 2015, are the same as those followed in the Financial Statements for the year ended 31 December 2015. Further disclosures as required under IFRS for a complete set of consolidated financial statements are not included in the condensed consolidated financial information. The consolidated and company financial statements of TomTom NV for the year ended 31 December 2015 have been prepared and audited but are not yet published. The quarterly condensed consolidated information in this press release is unaudited.

Audio webcast fourth quarter and full year 2015 results

The information for our fourth quarter and full year 2015 results audio webcast is as follows:
Date and time: 9 February 2016 at 14.00 CET
corporate.tomtom.com/presentations.cfm

TomTom is listed at NYSE Euronext Amsterdam in the Netherlands
ISIN: NL0000387058 / Symbol: TOM2

About TomTom

TomTom (TOM2) empowers movement. Every day millions of people around the world depend on TomTom to make smarter decisions. We design and develop innovative products that make it easy for people to keep moving towards their goals. Our map-based components include map content, online map-based services, real-time traffic, and navigation software. Our consumer products include PNDs, navigation apps, sports watches and action camera. Our main business products are custom in-dash navigation systems and a fleet management system, which is offered to fleet owners as an online service with integrated in-vehicle cellular devices. Our business consists of four customer facing business units: Consumer, Automotive, Licensing and Telematics. Founded in 1991 and headquartered in Amsterdam, we have over 4,600 employees worldwide. For further information, please visit www.tomtom.com.

Forward-looking statements/Important notice

This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of TomTom NV and its subsidiaries (referred to as 'the company' or ‘the group’) and certain of the plans and objectives of the company with respect to these items. In particular the words 'expect', 'anticipate', 'estimate', 'may', 'should', 'believe' and similar expressions are intended to identify forward-looking statements. By their nature, forward-looking statements involve risk and uncertainly because they relate to events and depend on circumstances that will occur in the future. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on them. We have based these forward-looking statements on our current expectations and projections about future events, including numerous assumptions regarding our present and future business strategies, operations and the environment in which we will operate in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, levels of customer spending in major economies, changes in consumer tastes and preferences, changes in law, the performance of the financial markets, the levels of marketing and promotional expenditures by the company and its competitors, raw materials and employee costs, changes in exchange and interest rates (in particular changes in the US dollar and GB pound versus the euro can materially affect results), changes in tax rates, future business combinations, acquisitions or disposals, the rate of technological changes, political and military developments in countries where the company operates and the risk of a downturn in the market. Statements regarding market share, including the company's competitive position, contained in this document are based on outside sources such as specialized research institutes, industry and dealer panels in combination with management estimates. Market shares are based on sales in units unless otherwise stated. The forward-looking statements contained refer only to the date in which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this document.

1   Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis.
2 Europe refers to EMEA17: AT, CH, DE, BE, NL, FR, IT, GB, ES, PT, TR, CZ, PL, DK, SE, FI, ZA.
3 Includes movements in the non-current portion of deferred revenue presented under Non-Current liabilities.



Contact:

TomTom Investor Relations
Email Contact
+31 20 757 5194