TomTom Reports Third Quarter 2017 Results

Data, software & services revenue in the quarter was €139 million, 15% higher compared with €121 million in Q3 '16, mainly due to increase in Automotive revenue. Data, software & services accounted for 64% of the revenue in Q3 '17 compared with 51% in Q3 '16. Hardware revenue for the quarter was €79 million, 33% lower compared with €118 million in Q3 '16.

Gross result
Our gross result decreased by 3% to €141 million in the quarter compared with €145 million in Q3 '16. Cost of sales in Q3 '17 included a one-off restructuring charge of €3.6 million related to the announced reorganisation in Consumer Sports.

The gross margin for the quarter was 65%, five percentage points higher compared with 60% in Q3 '16, reflecting the shift of revenue mix towards higher margin data, software & services revenue.

Operating expenses
Total operating expenses for the quarter were €147 million, €2.8 million higher compared with €144 million in the same quarter last year. Operating expenses included a one-off restructuring charge of €11.8 million related to the announced reorganisation in Consumer Sports. Excluding this restructuring charge, operating expenses declined by €9.0 million year on year mainly due to lower marketing expenditure in the quarter.

FX sensitivity

                 
(€ in millions, unless stated otherwise)  

Q3 '17
actual

 

Q3 '17
recalculated
at
Q3 '16
FX rates1

 

YTD '17
actual

 

YTD '17
recalculated
at
YTD '16
FX rates1

                 
Revenue   217.7   220.7   683.8   687.8
 
Gross result 140.5 140.7 433.5 437.8
Gross margin 65% 64% 63% 64%
 
EBIT (YTD excl. impairment charge) -6.0 -7.1 -1.7 0.9
EBIT margin (YTD excl. impairment charge) -3% -3% 0% 0%
                 

FX RATES (IN €)

Q3 '17

Q3 '16

YTD '17

YTD '16

US dollar 1.17 1.11 1.11 1.11
GB pound   0.90   0.84   0.87   0.79

¹The Q3 '17/YTD '17 income and expense in US dollar and GB pound have been converted to euro using Q3 '16 / YTD
'16 average exchange rates. All other foreign currencies have not been converted.


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