TomTom Reports Third Quarter 2017 Results

Consumer revenue for the quarter decreased by 29% year on year to €97 million (Q3 '16: €137 million), reflecting a decrease in both Consumer products as well as Automotive hardware revenue.

As communicated earlier this year, the wearables market has fallen short of expectations. In line with the previously announced strategic review, our Sports business has been reduced in size. We are aligning our cost base with the current market developments while we continue to sell sports products and support our customers. We reported a restructuring charge of €15.4 million in the quarter and are further evaluating our strategic options for Consumer Sports.

We will continue to develop portable navigation devices, as the Drive business will continue to provide a valuable platform for consumer insight and collecting location data.

In the quarter, TomTom BRIDGE Hub was launched, enabling customers and partners in various industries - transportation, emergency, logistics and utilities - to connect with regular smartphones and tablets (BYOD), rugged professional devices or even HDMI displays, to create enhanced connected mobility solutions.

Data, software & services and Hardware revenue split

                         
(€ in millions)   Q3 '17   Q3 '16  

y.o.y.
change

  YTD '17   YTD '16  

y.o.y.
change

                         
Data, software & services   138.9   120.9   15%   407.7   358.5   14%
Hardware   78.8   118.4   -33%   276.1   363.2   -24%
Total revenue   217.7   239.3   -9%   683.8   721.7   -5%

Change percentages and totals calculated before rounding.


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