TomTom Reports Fourth Quarter and Full Year 2017 Results

Total depreciation and amortisation expenses amounted to €66 million in the quarter, 70% higher compared with last year (Q4 '16: €39 million). Acquisition-related amortisation was €25.1 million in Q4 '17 (Q4 '16: €14 million).

On a full year basis, acquisition-related amortisation amounted to €235 million in 2017, higher compared with last year (FY '16: €55 million) due to the impairment of goodwill related to Consumer and the accelerated amortisation of some customer relationships.

Financial income and expenses

The net interest charge for the quarter was €0.3 million versus a net interest charge of €0.3 million in Q4 '16. The other financial result for the quarter was a gain of €0.9 million (Q4 '16: loss of €2.0 million), which consisted primarily of foreign exchange gains from the revaluation of monetary balance sheet items partially offset by our hedging results. On a full year basis, the total financial income and expense was a gain of €1.7 million compared with a loss of €2.4 million in 2016.

Income tax

The net income tax for the quarter was a charge of €5.8 million versus a net income tax charge of €3.0 million in Q4 '16. The income tax for the year was a charge of €7.0 million (FY '16: tax gain of €4.7 million).

Net result and adjusted EPS

 
(€ in millions, unless stated otherwise)     Q4 '17   Q4 '16  

y.o.y.

change

    FY '17   FY '16  

y.o.y.

change

 
                               
Net result     -34.5   -5.6         -204.4   12.0      
Net result attributed to equity holders     -34.2   -5.5       -204.0   12.0  
Impairment charge 168.7
Acquisition-related expenses 26.3 14.2 87% 72.2 55.3 31%
Restructuring charge and disposals 29.2 44.6
Remeasurement of deferred tax liability 4.6 5.3 -13% 4.6 -2.3
Tax effect of adjustments     -11.6   -2.7         -24.9   -10.9      
Adjusted net result     14.3   11.3   28%     61.3   54.1   13%  
                               
Adjusted EPS, € fully diluted     0.06   0.05   28%     0.26   0.23   12%  

Change percentages and totals calculated before rounding.

 

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