Data, software & services revenue in the quarter was €127 million, 10% higher compared with €116 million in Q1 '16, mainly due to increasing Automotive revenue. Data, software & services accounted for 60% of the revenue in Q1 '17 compared with 53% in Q1 '16. Hardware revenue for the quarter was €86 million, 16% lower compared with €102 million in Q1 '16.
Gross margin
Our gross result increased by 7% to €132 million in the quarter compared with €123 million in Q1 '16. The gross margin for the quarter was 62%, which is five percentage points higher compared with 57% in Q1 '16, reflecting the shift of revenue mix towards higher margin data, software & services revenue.
Operating expenses
Total operating expenses for the quarter were €137 million, €10 million higher compared with €128 million in the same quarter last year. This increase is mainly due to higher R&D and SG&A expenses as well as modestly higher amortisation of technology & databases. The increase in our R&D and SG&A line is mainly caused by higher expenses on the long-term employee incentive plan.
FX sensitivity
| (€ in millions, unless stated otherwise) |
Q1 '17
actual |
Q1 '17
recalculated at Q1 '16 FX rates1 |
|||
| Revenue | 212.7 | 213.4 | |||
| Gross result | 132.4 | 134.4 | |||
| Gross margin | 62% | 63% | |||
| EBIT | -4.9 | -3.2 | |||
| EBIT margin | -2% | -2% | |||
| FX RATES (IN €) | Q1 '17 | Q1 '16 | |||
| US dollar | 1.06 | 1.09 | |||
| GB pound | 0.86 | 0.76 |
