Transition to new accounting standards
1 January 2018
TomTom has assessed the estimated impact that the initial application of IFRS 9, IFRS 15 and IFRS 16 will have on the consolidated financial statements. The estimated impact of the adoption of these standards on the Group’s equity as at 1 January 2018 is based on assessments undertaken to date. There is no expected material impact from the adoption of IFRS 9. The estimated adjustments due to adoption of IFRS 15 and IFRS 16 are material and are illustrated in the subsequent tables.
Contents:
Consolidated condensed statement of income using IFRS 15 and IFRS 16
accounting standards
Consolidated condensed balance sheet using
IFRS 15 and IFRS 16 accounting standards
Consolidated condensed statement of income using IFRS 15 and IFRS 16 accounting standards
The new accounting policies are subject to change until the group presents its first financial statements that include the date of initial application and, therefore, the actual impact of adopting the new standards at 1 January 2018 may change.
| (€ in millions) | FY '17 Reported | IFRS 15 | IFRS 16 | FY '17 Restated | ||||||
| Automotive & Enterprise | 328.8 | 4.4 | 333.2 | |||||||
| Automotive | 190.6 | 5.1 | 195.7 | |||||||
| Enterprise | 138.2 | -0.7 | 137.5 | |||||||
| Telematics | 162.1 | 1.5 | 163.6 | |||||||
| Consumer | 412.5 | -6.4 | 406.1 | |||||||
| Total Revenue | 903.4 | -0.5 | 902.9 | |||||||
| Cost of sales | 339.3 | -6.2 | 333.1 | |||||||
| Gross result | 564.1 | 5.7 | 569.8 | |||||||
| Research and development expenses | 207.9 | 207.9 | ||||||||
| Amortisation of technology and databases | 112.3 | 112.3 | ||||||||
| Marketing expenses | 57.4 | -5.6 | 51.8 | |||||||
| Selling, general and administrative expenses | 217.7 | -2.6 | 215.1 | |||||||
| Impairment charge | 168.7 | 168.7 | ||||||||
| Total operating expenses | 763.9 | -5.6 | -2.6 | 755.7 | ||||||
| Operating result (EBIT) | -199.8 | 11.3 | 2.6 | -186.0 | ||||||
| EBITDA | 141.2 | 5.7 | 16.5 | 163.3 | ||||||
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| Interest result | -1.0 | -0.9 | -1.9 | |||||||
| Other financial result | 2.7 | 2.7 | ||||||||
| Result of associates | 0.8 | 0.8 | ||||||||
| Result before tax | -197.4 | 11.3 | 1.7 | -184.4 | ||||||
| Income tax gain / (expense) | -7.0 | -2.6 | -0.4 | -10.0 | ||||||
| Net result | -204.4 | 8.7 | 1.3 | -194.4 | ||||||
| Earnings per share: | ||||||||||
|
EPS, € diluted 1 |
-0.87 | 0.04 | 0.01 | -0.83 | ||||||
|
aEPS, € diluted 2 |
0.26 | 0.04 | 0.01 | 0.30 | ||||||
| Basic number of shares (in millions) | 233.7 | 233.7 | ||||||||
| Diluted number of shares (in millions) | 236.8 | 236.8 |
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1 In 2017, no additional shares from assumed conversion are taken into account as the effect would be anti-dilutive. |
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2 Earnings per fully diluted share count adjusted for acquisition-related expenses & gains, impairments and material restructuring and disposal costs on a post-tax basis. |
