In 2018, TomTom changed the definition of adjusted EPS to better reflect the transition of its business model towards a software and services company. Adjusted net result is now calculated as net result attributed to equity holders adjusted for movement of deferred and unbilled revenue, deferred cost of sales, impairments and material restructuring and disposal costs on a post-tax basis. Below table shows the calculations of adjusted EPS, using the old and the new definitions and taking into account different accounting standards.
| (€ in millions, unless stated otherwise) | FY '17 | Restated FY '17 | Restated FY '17 | |||||
| Definition | Old definition | Old definition | New definition | |||||
| Accounting standards | As applicable in 2017 | IFRS 15 and IFRS 16 | IFRS 15 and IFRS 16 | |||||
| Net result | -204.4 | -194.4 | -194.4 | |||||
| Net result attributed to equity holders | -204.0 | -194.0 | -194.0 | |||||
| Impairment charge | 168.7 | 168.7 | 168.7 | |||||
| Acquisition-related expenses | 72.2 | 72.2 | 11.3 | |||||
| Restructuring charge and disposals | 44.6 | 44.6 | 44.6 | |||||
| Remeasurement of deferred tax liability | 4.6 | 4.6 | 4.6 | |||||
| Deferred/unbilled revenue movement | 25.1 | |||||||
| Deferred cost of sales movement | -1.0 | |||||||
| Tax effect of adjustments | -24.9 | -24.9 | -17.0 | |||||
| Adjusted net result | 61.3 | 71.2 | 42.3 | |||||
| Adjusted EPS, € fully diluted | 0.26 | 0.30 | 0.18 | |||||
TOMTOM NV
