Quarterly Report • Oct 16, 2018
Quarterly Report
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Full year outlook increased; expected full year revenue of around €850 million (was €825 million) and adjusted EPS1 of around €0.35 (was €0.30).
An agreement has been reached to bring the contract for TomTom to provide location and navigation content and services to Volvo, as communicated on 8 June 2016, to an end.
| (€ in millions, unless stated otherwise) | Q3 '18 | Q3 '17 | y.o.y. change |
YTD '18 | YTD '17 | y.o.y. change |
|---|---|---|---|---|---|---|
| Automotive & Enterprise | 93.3 | 81.3 | 15% | 265.7 | 246.3 | 8% |
| Telematics | 43.4 | 40.7 | 6% | 130.1 | 121.7 | 7% |
| Consumer | 83.0 | 96.6 | -14% | 247.1 | 316.7 | -22% |
| REVENUE | 219.7 | 218.6 | 642.9 | 684.7 | -6% | |
| GROSS RESULT Gross margin |
159.8 73% |
144.2 66% |
11% | 458.9 71% |
440.3 64% |
4% |
| EBITDA EBITDA margin |
62.4 28% |
35.5 16% |
76% | 170.1 26% |
119.9 18% |
42% |
| OPERATING RESULT (EBIT) Operating margin |
23.8 11% |
-0.4 | 55.6 9% |
-156.4 -23% |
-136% | |
| NET RESULT ADJUSTED NET RESULT |
17.2 26.3 |
-1.2 38.1 |
-31% | 43.3 60.6 |
-159.7 38.3 |
-127% 58% |
| EPS, € fully diluted Adjusted EPS1, € fully diluted |
0.07 0.11 |
0.00 0.16 |
-30% | 0.19 0.26 |
-0.68 0.16 |
-127% 62% |
Change percentages and totals calculated before rounding.
This report includes the following non-GAAP measures: Automotive operational revenue, gross margin, EBIT (margin), EBITDA (margin), adjusted net result, adjusted EPS and net cash, which are further explained on page 10 of this report. Comparative figures have been restated to reflect the adoption of IFRS 15 and IFRS 16 accounting standards.
1 Earnings per fully diluted share count adjusted for movement of deferred revenue, unbilled revenue, deferred cost of sales, impairments and material restructuring and disposal costs on a post-tax basis.
"We continue to make headways in a turbulent automotive environment. Operational revenue increased 36% year on year, and we recently announced new deals with Groupe PSA and BMW Group – highlighting the quality and constant development of our connected navigation products.
We are currently considering strategic options for our Telematics business. With innovation and a renewed focus on the Automotive and Enterprise segment, we will continue to shape the future of driving with accurate maps, navigation software and real-time traffic information and services."
We are updating our guidance for the year.
| Outlook full year 2018 | Updated | Previous |
|---|---|---|
| Revenue | ~ €850 million | ~ €825 million |
| Gross margin | At least 70% | At least 70% |
| OPEX | ~ €560 million | ~ €550 million |
| Adjusted EPS | Around €0.35 | At least €0.30 |
An agreement has been reached to bring the contract for TomTom to provide location and navigation content and services to Volvo, as communicated on 8 June 2016, to an end. As a result of this agreement, the order intake for 2016 is adjusted downwards to more than €250 million (was more than €300 million). We will continue to work together with Volvo going forward, including the Volvo Drive Me programme, a research project into autonomous driving.
During the quarter, we announced that we are exploring strategic alternatives for our Telematics business unit, which may result in a sale of the division. There is strong interest, the process is on schedule and we are aiming to provide a further update in Q1 '19, or earlier when appropriate.
Revenue for the third quarter amounted to €220 million, in line with the same quarter last year (Q3 '17: €219 million). Automotive and Telematics showed year on year revenue increases of 25% and 6% respectively, while Enterprise revenue remained flat compared with the same quarter last year. Gross margin increased by 7 percentage points from 66% in Q3 '17 to 73% in Q3 '18. The net result adjusted for movement of deferred revenue, unbilled revenue and deferred cost of sales on a post-tax basis was a gain of €26 million, which translates to an adjusted EPS of €0.11 (Q3 '17: €0.16). The year on year decrease of the adjusted net result is caused by the timing of invoicing of some customers in Q3 '18.
| (€ in millions) | Q3 '18 | Q3 '17 | y.o.y. change |
YTD '18 | YTD '17 | y.o.y. change |
|---|---|---|---|---|---|---|
| Automotive | 59.4 | 47.7 | 25% | 171.7 | 141.4 | 21% |
| Enterprise | 33.9 | 33.7 | 1% | 94.0 | 104.9 | -10% |
| Total Automotive & Enterprise revenue | 93.3 | 81.3 | 15% | 265.7 | 246.3 | 8% |
Change percentages and totals calculated before rounding.
Automotive & Enterprise combined revenue in the quarter was €93 million (Q3 '17: €81 million). Automotive generated revenue of €59 million in the quarter, representing a 25% increase year on year. Automotive operational revenue increased by 36% year on year (Q3 '18 €72 million vs Q3 '17 €53 million).
Enterprise revenue in Q3 '18 was €34 million, flat compared with the same quarter last year.
Automotive announced new deals with Groupe PSA and BMW Group. Groupe PSA extended its current agreement to beyond 2020, bringing TomTom maps, navigation and real time services into their next generation infotainment system for all brands in all regions. We also signed a multi-year agreement with BMW Group to deliver traffic data, routing and EV services to all BMW, MINI and Rolls-Royce vehicles across more than 33 countries in Europe and around the world.
In Enterprise, we have started offering free maps and traffic tiles in our mobile software developer kit (SDK) for developers as we believe digital maps will play a key role in emerging opportunities in mobility and ridesharing.
Also in the quarter, we announced several collaborations in Enterprise. TomTom traffic data, speed profiles, and map elements will be integrated into rideOS' innovative routing platform for self-driving vehicles to improve predictive analytics. The platform synthesises, manages, and distributes critical safety data and routes for all types of transports. We are also working on a development package for geolocation-based tools and services alongside STMicroelectronics, a global semiconductor leader. As well as supporting location context enhancements for Zenly, a social map app with leading real-time location technology, through our routing and search APIs.
We have also launched Origin-Destination (O/D) Analysis, a new service which provides valuable insight for urban and infrastructure planners by allowing them to see drivers' preferred routes and trends, enabling them to better determine which areas of a city require further development. The new service is available as part of TomTom Move, a web portal offering anonymised, state of the art traffic statistics.
| (€ in millions, unless stated otherwise) | Q3 '18 | Q3 '17 | y.o.y. change |
YTD '18 | YTD '17 | y.o.y. change |
|---|---|---|---|---|---|---|
| Subscriptions | 34.6 | 31.6 | 10% | 101.4 | 93.5 | 8% |
| Hardware and other services1 | 8.8 | 9.2 | -5% | 28.7 | 28.1 | 2% |
| Total Telematics revenue | 43.4 | 40.7 | 6% | 130.1 | 121.7 | 7% |
| Monthly revenue per subscription (€) | 13.5 | 13.6 | -1% | |||
| Subscriber installed base (# in thousands) | 861 | 785 | 10% |
Change percentages and totals calculated before rounding.
1 Other services revenue comprises installation services and separately purchased traffic service and/or map content.
Telematics revenue for the quarter was €43 million, 6% increase compared with the same quarter last year. The recurring subscription revenue for the quarter increased by 10% year on year to €35 million (Q3 '17: €32 million). Monthly revenue per subscription decreased slightly from Q3 '17, due to the mix effect caused by growing aftermarket connected car volumes, which are priced at lower levels compared with the traditional fleet management services. The monthly revenue per subscription of WEBFLEET showed a year on year increase.
At the end of Q3 '18, Telematics totalled 861,000 fleet management and connected car subscriptions. This represents a 10% year on year increase, up from 785,000 subscriptions at the end of Q3 '17.
Telematics is presented as part of continuing operations until the criteria for classification as held for sale is met in accordance with IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations'.
| (€ in millions) | Q3 '18 | Q3 '17 | y.o.y. change |
YTD '18 | YTD '17 | y.o.y. change |
|---|---|---|---|---|---|---|
| Consumer products | 75.0 | 87.8 | -15% | 215.9 | 282.0 | -23% |
| Automotive hardware | 8.0 | 8.8 | -9% | 31.2 | 34.7 | -10% |
| Total Consumer revenue | 83.0 | 96.6 | -14% | 247.1 | 316.7 | -22% |
Change percentages and totals calculated before rounding.
Total Consumer revenue for the quarter was €83 million, 14% lower compared with the same quarter last year (Q3 '17: €97 million).
In the quarter, Consumer business announced that Daimler Trucks has chosen the TomTom Bridge Hub platform to provide navigation and vehicle data to drivers, globally. Daimler Truck drivers using the new infotainment system will benefit from TomTom's connected navigation and traffic information, while being able to access critical vehicle data via the built-in vehicle display.
The gross margin for the quarter was 73%, compared with 66% in Q3 '17, reflecting the shift of revenue mix towards higher margin data, software and services revenue.
Total operating expenses for the quarter were €136 million, a decrease of €9 million compared with the same quarter last year (Q3 '17: €145 million). The year on year comparison is influenced by the restructuring charge of €12 million related to the reorganisation in Consumer Sports booked in Q3 '17, and some one-off items in our operational expenses in Q3 '18, with as a net effect a €4 million gain. The underlying OPEX showed a year on year increase explained by higher amortisation and higher investments in research & development.
Total depreciation and amortisation expenses amounted to €39 million in the quarter, 8% higher compared with the same quarter last year (Q3 '17: €36 million). This increase is caused by higher amortisation of technology and databases derived from the capital expenditures of past years, and an increase in the value of leased assets, driven by the commencement and extension of office leases in the past year.
| Q3 '18 | YTD '18 | |||
|---|---|---|---|---|
| Q3 '18 | recalculated at | YTD '18 | recalculated at | |
| (€ in millions, unless stated otherwise) | actual | Q3 '17 | actual | YTD '17 |
| FX rates1 | FX rates1 | |||
| Revenue | 219.7 | 219.3 | 642.9 | 650.8 |
| Gross result | 159.8 | 159.6 | 458.9 | 457.3 |
| Gross margin | 73% | 73% | 71% | 70% |
| EBIT | 23.8 | 23.6 | 55.6 | 49.8 |
| EBIT margin | 11% | 11% | 9% | 8% |
| FX RATES (IN €) | Q3 '18 | Q3 '17 | YTD '18 | YTD '17 |
| US dollar | 1.17 | 1.17 | 1.20 | 1.11 |
| GB pound | 0.89 | 0.90 | 0.89 | 0.87 |
¹The Q3 '18/YTD '18 income and expense in US dollar and GB pound have been converted to euro using Q3 '17 / YTD '17 average exchange rates. All other foreign currencies have not been converted.
The other financial result for the quarter was an expense of €0.3 million (Q3 '17: expense of €0.1 million), which consisted primarily of foreign exchange losses from the revaluation of monetary balance sheet items.
The net income tax expense for the quarter was €6.1 million compared with €0.4 million in Q3 '17. The year on year increase is driven by higher profit before tax.
| (€ in millions, unless stated otherwise) | Q3 '18 | Q3 '17 | y.o.y. change |
YTD '18 | YTD '17 | y.o.y. change |
|---|---|---|---|---|---|---|
| Net result | 17.2 | -1.2 | 43.3 | -159.7 | -127% | |
| Net result attributed to equity holders | 17.2 | -1.1 | 43.4 | -159.6 | -127% | |
| Movement of deferred revenue, unbilled revenue and deferred CoS |
11.9 | 34.5 | 66% | 22.4 | 21.7 | 4% |
| Restructuring | 15.3 | 15.3 | ||||
| Impairments | 168.7 | |||||
| Tax effect on movement | -2.8 | -10.6 | -74% | -5.2 | -7.9 | -34% |
| Adjusted net result | 26.3 | 38.1 | -31% | 60.6 | 38.3 | 58% |
| Adjusted EPS, € fully diluted | 0.11 | 0.16 | -30% | 0.26 | 0.16 | 62% |
Change amounts and totals calculated before rounding.
The net result for the quarter was a profit of €17 million compared with a loss of €1.2 million in Q3 '17. The net result adjusted for movement of deferred revenue, unbilled revenue and deferred cost of sales on a post-tax basis was a profit of €26 million compared with a profit of €38 million in Q3 '17. The year on year decrease of the adjusted net result is caused by the timing of invoicing of some customers. Adjusted EPS for the quarter was €0.11 compared with €0.16 in the same quarter last year.
Net movement of deferred and unbilled revenues and deferred cost of sales per segment
| (€ in millions) | Q3 '18 | Q3 '17 | YTD '18 | YTD '17 |
|---|---|---|---|---|
| Automotive | 12.4 | 5.1 | 48.8 | 28.2 |
| Enterprise | 10.4 | 36.2 | -5.4 | 8.9 |
| Telematics | -1.1 | -1.6 | -1.9 | -2.7 |
| Consumer | -9.8 | -5.2 | -19.0 | -12.7 |
| Total | 11.9 | 34.5 | 22.4 | 21.7 |
Totals calculated before rounding.
Trade receivables were €129 million in Q3 '18 compared with €164 million at the end of Q3 '17. The inventory level at the end of the quarter was €36 million, compared with €53 million at the end of the same quarter last year, following the decline in hardware sales.
Current liabilities excluding deferred revenue were €230 million compared with €286 million at the end of Q3 '17. The decrease is mainly due to the utilisation of provisions, including the Consumer restructuring provision in Q3 '17 and a decrease in trade payables.
Deferred revenue was €285 million at the end of Q3 '18, compared with €258 million at the end of the same quarter last year. The year on year increase reflects the increased deferred revenue position related to Automotive contracts with upfront payments for multi-year service offerings, offset by releases of deferred revenue in the Enterprise and Consumer segments.
| (€ in millions) | 30 Sept 2018 | 30 Sept 2017 |
|---|---|---|
| Automotive | 154.9 | 78.6 |
| Enterprise | 4.2 | 27.4 |
| Telematics | 28.6 | 30.9 |
| Consumer | 96.9 | 121.3 |
| Total | 284.7 | 258.2 |
Totals calculated before rounding.
On 30 September 2018, the group had no outstanding bank borrowings and reported a cash position of €179 million (Q3 '17: net cash of €102 million).
The cash flow from operating activities for the quarter was €56 million compared with €48 million in Q3 '17. The year on year increase was mainly driven by the higher EBITDA.
The cash flow used in investing activities for the quarter was €28 million, an increase of €3 million from the same quarter in the previous year (Q3 '17 €25 million). The majority of investments related to the mapmaking platform and map content needed to support growth in Automotive.
CAPEX (excluding acquisitions)
| (€ in millions) | Q3 '18 | Q3 '17 | y.o.y. change |
YTD '18 | YTD '17 | y.o.y. change |
|---|---|---|---|---|---|---|
| Map content | 9.3 | 8.6 | 8% | 22.5 | 22.7 | -1% |
| Mapmaking platform | 12.3 | 7.8 | 58% | 32.9 | 23.9 | 37% |
| Telematics | 1.8 | 2.1 | -15% | 6.3 | 10.0 | -36% |
| Other | 4.6 | 6.5 | -29% | 13.2 | 22.7 | -42% |
| Total | 28.0 | 25.0 | 7% | 74.9 | 79.3 | -7% |
Change percentages and totals calculated before rounding.
The cash flow used in financing activities for the quarter was an outflow of €5.3 million an increase year on year (Q3 '17: outflow of €3.2 million) following the purchase of the remaining non-controlling interests in the group. In the quarter, 166 thousand options were exercised (Q3 '17: 183 thousand options), related to our long-term employee incentive programmes, resulting in a €0.8 million cash inflow (Q3 '17: €0.9 million).
| Q3 '18 Unaudited |
Q3 '17 Unaudited |
YTD '18 Unaudited |
YTD '17 Unaudited |
|
|---|---|---|---|---|
| (€ in thousands) | Restated | Restated | ||
| Revenue | 219,690 | 218,649 | 642,852 | 684,697 |
| Cost of sales | 59,875 | 74,457 | 183,942 | 244,412 |
| Gross result | 159,815 | 144,192 | 458,910 | 440,285 |
| Research and development expenses | 53,557 | 51,636 | 156,416 | 155,402 |
| Amortisation of technology and databases | 28,221 | 24,430 | 78,695 | 71,231 |
| Marketing expenses | 9,545 | 10,419 | 27,155 | 42,718 |
| Selling, general and administrative expenses | 44,710 | 58,092 | 141,086 | 158,620 |
| Impairment charge | 0 | 0 | 0 | 168,687 |
| Total operating expenses | 136,033 | 144,577 | 403,352 | 596,658 |
| Operating result | 23,782 | -385 | 55,558 | -156,373 |
| Interest result | -318 | -483 | -762 | -1,466 |
| Other financial result | -318 | -115 | -544 | 1,741 |
| Result of associates | 105 | 203 | 380 | 556 |
| Result before tax | 23,251 | -780 | 54,632 | -155,542 |
| Income tax (expense) | -6,091 | -418 | -11,296 | -4,203 |
| Net result | 17,160 | -1,198 | 43,336 | -159,745 |
| Net result attributable to: | ||||
| Equity holders of the parent | 17,160 | -1,137 | 43,433 | -159,583 |
| Non-controlling interests | 0 | -61 | -97 | -162 |
| Net result | 17,160 | -1,198 | 43,336 | -159,745 |
| Earnings per share (in €): | ||||
| EPS, € basic | 0.07 | 0.00 | 0.19 | -0.68 |
| EPS, € diluted1 | 0.07 | 0.00 | 0.19 | -0.68 |
| Basic number of shares (in thousands) | 231,069 | 235,227 | 230,768 | 234,246 |
| Diluted number of shares (in thousands) | 233,152 | 237,772 | 233,028 | 237,134 |
7/11
1 In 2017, no additional shares from assumed conversion were considered as the effect would be anti-dilutive.
| (€ in thousands) | 30 September 2018 Unaudited |
31 December 20171 Audited Restated |
|---|---|---|
| Goodwill | 255,858 | 256,319 |
| Other intangible assets | 684,229 | 718,397 |
| Property, plant and equipment | 37,620 | 33,621 |
| Lease assets | 38,228 | 45,689 |
| Contract related assets | 5,220 | 8,657 |
| Deferred tax assets | 5,782 | 7,453 |
| Investments in associates | 4,545 | 4,223 |
| Total non-current assets | 1,031,482 | 1,074,359 |
| Inventories | 35,717 | 31,609 |
| Contract related assets | 42,051 | 31,461 |
| Trade receivables | 128,868 | 114,254 |
| Other receivables and prepayments | 34,060 | 26,066 |
| Other financial assets | 28 | 0 |
| Cash and cash equivalents | 178,522 | 120,850 |
| Total current assets | 419,246 | 324,240 |
| Total assets | 1,450,728 | 1,398,599 |
| Share capital | 47,064 | 47,064 |
| Share premium | 1,066,488 | 1,068,149 |
| Treasury shares | -38,390 | -48,790 |
| Other reserves | 256,752 | 263,164 |
| Accumulated deficit | -560,648 | -609,993 |
| Equity attributable to equity holders of the parent | 771,266 | 719,594 |
| Non-controlling interests | 0 | 2,308 |
| Total equity | 771,266 | 721,902 |
| Lease liability | 27,750 | 33,172 |
| Deferred tax liability | 84,506 | 85,804 |
| Provisions | 52,201 | 43,727 |
| Deferred revenue | 170,147 | 148,058 |
| Total non-current liabilities | 334,604 | 310,761 |
| Trade payables | 49,903 | 51,441 |
| Income taxes | 2,132 | 1,702 |
| Other taxes and social security | 8,329 | 7,025 |
| Lease liability | 12,897 | 15,006 |
| Provisions | 29,321 | 37,173 |
| Deferred revenue | 114,547 | 113,246 |
| Other contract related liabilities | 48,376 | 64,380 |
| Accruals and other liabilities | 79,353 | 75,963 |
| Total current liabilities | 344,858 | 365,936 |
| Total equity and liabilities | 1,450,728 | 1,398,599 |
1 Certain balance sheet items have been reclassified to conform with current year's presentation.
| (€ in thousands) | Q3 '18 Unaudited |
Q3 '17 Unaudited Restated |
YTD '18 Unaudited |
YTD '17 Unaudited Restated |
|---|---|---|---|---|
| Operating result | 23,782 | -385 | 55,558 | -156,373 |
| Financial gains/(losses) | 523 | -3,315 | -1,151 | -2,918 |
| Depreciation, amortisation and impairment | 38,654 | 35,873 | 114,522 | 276,262 |
| Change in provisions | 1,271 | 11,475 | -7,423 | 3,205 |
| Equity-settled stock compensation expenses | 1,298 | 2,346 | 4,242 | 6,748 |
| Changes in working capital: | ||||
| Change in inventories | 378 | 212 | 5,294 | -290 |
| Change in receivables and prepayments | -15,077 | -10,546 | -32,152 | -47,688 |
| Change in liabilities (excluding provisions)1 | 7,312 | 16,261 | 9,878 | 6,124 |
| Cash generated from operations | 58,141 | 51,921 | 148,768 | 85,070 |
| Interest received | 187 | 48 | 397 | 199 |
| Interest (paid) | -506 | -449 | -1,076 | -1,416 |
| Corporate income taxes (paid) | -1,407 | -3,082 | -6,389 | -8,314 |
| Cash flows from operating activities | 56,415 | 48,438 | 141,700 | 75,539 |
| Investments in intangible assets | -22,149 | -21,567 | -59,355 | -68,468 |
| Investments in property, plant and equipment | -5,841 | -3,457 | -15,576 | -10,815 |
| Acquisition of subsidiaries and other businesses | 0 | 0 | 0 | -24,493 |
| Dividends received | 75 | 106 | 150 | 106 |
| Cash flows from investing activities | -27,915 | -24,918 | -74,781 | -103,670 |
| Change in utilisation of credit facility | 0 | 0 | 0 | -7,000 |
| Repayment of borrowings | 0 | 0 | 0 | -708 |
| Change in lease liability | -4,754 | -4,053 | -12,096 | -12,074 |
| Change in non-controlling interest | -1,400 | 0 | -1,545 | -123 |
| Proceeds on issue of ordinary shares | 847 | 860 | 3,527 | 11,840 |
| Cash flows from financing activities | -5,307 | -3,193 | -10,114 | -8,065 |
| Net increase / (decrease) in cash and cash | ||||
| equivalents | 23,193 | 20,327 | 56,805 | -36,196 |
| Cash and cash equivalents at beginning of period | 155,292 | 85,041 | 120,850 | 142,527 |
| Exchange rate changes on cash balances held in foreign currencies |
37 | -148 | 867 | -1,111 |
| Cash and cash equivalents at the end of the period |
178,522 | 105,220 | 178,522 | 105,220 |
1 Includes movements in the non-current portion of deferred revenue presented under non-current liabilities.
The condensed consolidated financial information for the three- and nine-month period ended 30 September 2018 and the related comparative information has been prepared using accounting policies and methods of computation as disclosed in in the Financial Statements for the year ended 31 December 2017, except for the three new standards adopted from 1 January 2018.
The group has adopted IFRS 15 'Revenue from Contracts with Customers', IFRS 16 'Leases' (early adoption as permitted by the transitional guidance) and IFRS 9 'Financial Instruments'. The impact of these standards and the accounting policies are explained in the second quarter interim financial statements. Unless otherwise indicated, the quarterly condensed consolidated information in this press release is unaudited nor reviewed. Due to rounding, amounts may not add up precisely to totals.
The financial information in this report includes measures, which are not defined by generally accepted accounting principles (GAAP) such as IFRS. We believe this information, along with comparable GAAP measurements, gives insight to investors because it provides a basis for evaluating our operational performance. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP. Wherever appropriate and practical, we provide reconciliations to relevant GAAP measures.
Automotive operational revenue is IFRS revenue adjusted for the movement of deferred and unbilled revenue
Gross margin is calculated as gross result divided by revenue
EBIT is equal to our operating result
EBIT margin is calculated as operating result divided by revenue
EBITDA is equal to our operating result plus depreciation and amortisation charges
EBITDA margin is calculated as operating result plus depreciation and amortisation charges divided by revenue
Adjusted net result is calculated as net result attributed to equity holders adjusted for movement of deferred revenue, unbilled revenue, deferred cost of sales, impairments and material restructuring and disposal costs on a post-tax basis
Adjusted EPS is calculated as adjusted net result divided by the weighted average number of diluted shares over the period
Net cash is defined as our cash and cash equivalents minus the nominal value of our outstanding bank borrowings
TomTom Investor Relations Email: [email protected] +31 20 757 5194
The information for our audio webcast is as follows: Date and time: 16 October 2018 at 14:00 CET corporate.tomtom.com/presentations.cfm TomTom is listed at NYSE Euronext Amsterdam in the Netherlands
ISIN: NL0000387058 / Symbol: TOM2
TomTom (TOM2) is the leading independent location technology specialist, shaping mobility with highly accurate maps, navigation software, real-time traffic information and services. To achieve our vision of a safer world, free of congestion and emissions, we create innovative technologies that keep the world moving. By combining our extensive experience with leading business and technology partners, we power connected vehicles, smart mobility and, ultimately, autonomous driving. Headquartered in Amsterdam with offices in 37 countries, TomTom's technologies are trusted by hundreds of millions of people worldwide. For further information, please visit www.tomtom.com.
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