Tele Atlas reports second quarter revenue of €72.8 million
21% increase over same quarter last year
‘s-Hertogenbosch, The Netherlands, July 31, 2007 – Tele Atlas NV (FSE: TA6, EUNV: TA), a leading global provider of digital maps and dynamic content for navigation and location based solutions, today reported results for the second quarter of 2007.
Second Quarter Highlights:
• Revenues increased 21% over the same period last year to €72.8 million (Q2 2006: €60.0 million).
• Adjusted EBITDA increased 67% over the same period in the prior year to €12.2 million (Q2 2006: €7.3 million).
• Net loss of €1.2 million compared to a profit of €4.5 million during the same quarter last year (Q2 2006 included a tax benefit of €10.7 million).
• Personal navigation revenues increased 52% over the same quarter during prior year, showing continued strong growth in this market segment.
• On July 23, 2007 TomTom and Tele Atlas announced that TomTom intends to make a cash offer of € 21.25 per ordinary share for Tele Atlas N.V. We refer to the joint press release of that date for more information.
Key Figures
In millions of euros, except otherwise noted
|
|
Q2 2007
|
Q2 2006
|
% Change
|
Revenues
|
|
72.8
|
60.0
|
21%
|
Adjusted EBITDA1
|
|
12.2
|
7.3
|
67%
|
Operating result (EBIT)
|
|
(1.5)
|
(7.7)
|
81%
|
Net result
|
|
(1.2)
|
4.5
|
(127%)
|
Average number of employees
|
|
1,656
|
1,442
|
15%
|
Earnings per share (in €)
|
|
(0.01)
|
0.05
|
(140%)
|
1 Adjusted EBITDA is the operating result before capitalization, depreciation and amortization and before costs related to Share-based Payments.
Alain De Taeye, Chief Executive Officer, said: “The sustained strong growth across personal navigation and automotive markets reflects the continuing emergence of a true mass market for digital maps in which tens of millions of users will rely on Tele Atlas data in their daily lives. Our introduction during the quarter of new features such as 3D citymaps capabilities has raised the map’s usability to an even higher level.
Financial Highlights
Beginning with fiscal 2007, certain changes have been made to segmentation and presentation in our reporting. These changes are further clarified in the notes to these interim financial reports in this release. Comparative information for 2006 has been restated to reflect these changes retroactively. Restated key quarterly financials by operating segment are summarized in the annex to this release.
Revenues
Tele Atlas' revenues for the second quarter of 2007 increased by 21% to €72.8 million compared to €60.0 million in the same period last year. Revenues grew 24% after adjusting for a €1.3 million effect of currency exchange rate changes. Revenues for the first six months increased by 17% (21% after adjustment for exchange rate effects) to €136.8 million, compared to € 116.5 million in the previous year. EMEA (Europe, Middle East & Africa) revenues for the quarter increased by 21% over the prior year to €53.1 million, mainly as a result of growth in the personal navigation segment. Americas revenues for the second quarter increased 12% from the prior year to €16.7 million, primarily due to increases in the personal navigation and Internet segments. Americas revenues grew 21% after adjusting for the effect of currency exchange rates changes. Revenues for the quarter in the Asia Pacific (APAC) area increased by 158% over the prior year to €2.9 million.
Revenues Per Segment1
(In thousands of euros)
|
|
|
|
|
|
|
|
|
|
|
3 months ended
June 30, 2007
|
3 months ended
June 30, 2006
|
|
|
EMEA
|
Americas
|
APAC
|
Total
|
EMEA
|
Americas
|
APAC
|
Total
|
Automotive navigation
|
8,229
|
2,413
|
541
|
11,183
|
9,571
|
2,801
|
676
|
13,048
|
Data products navigation
|
6,042
|
168
|
77
|
6,287
|
6,311
|
51
|
8
|
6,370
|
Personal navigation
|
32,946
|
5,987
|
7
|
38,940
|
22,999
|
2,542
|
22
|
25,563
|
Enterprise and government
|
2,882
|
8,122
|
-
|
11,004
|
2,755
|
8,826
|
435
|
12,016
|
Other segments
|
2,319
|
2,345
|
724
|
5,388
|
1,855
|
1,128
|
-
|
2,983
|
|
|
52,418
|
19,035
|
1,349
|
72,802
|
43,491
|
15,348
|
1,141
|
59,980
|
Intra-company Commissions
|
722
|
(2,314)
|
1,592
|
-
|
463
|
(463)
|
-
|
-
|
Net Revenue Total
|
53,140
|
16,721
|
2,941
|
72,802
|
43,954
|
14,885
|
1,141
|
59,980
|
|
|
|
|
|
|
|
|
|
|
|
|
6 months ended
June 30, 2007
|
6 months ended
June 30, 2006
|
|
|
EMEA
|
Americas
|
APAC
|
Total
|
EMEA
|
Americas
|
APAC
|
Total
|
Automotive navigation
|
16,499
|
5,187
|
1,026
|
22,712
|
20,054
|
4,434
|
1,132
|
25,620
|
Data products navigation
|
10,290
|
214
|
119
|
10,623
|
12,071
|
152
|
8
|
12,231
|
Personal navigation
|
60,176
|
10,989
|
22
|
71,187
|
41,558
|
4,461
|
163
|
46,182
|
Enterprise and government
|
4,939
|
17,493
|
-
|
22,432
|
5,449
|
19,390
|
475
|
25,314
|
Other segments
|
4,376
|
4,777
|
724
|
9,877
|
3,468
|
3,680
|
-
|
|
