TomTom Reports First Quarter 2018 Results

Balance sheet

Trade receivables plus other receivables totalled €162 million in Q1 '18 compared with €188 million at the end of Q1 '17. The inventory level at the end of the quarter was €34 million, compared with €63 million at the end of the same quarter last year. Cash and cash equivalents at the end of the quarter were €129 million versus €84 million at the end of Q1 '17.

Current liabilities excluding deferred revenue were €227 million compared with €251 million at the end of 2017. The sequential decrease is mainly due to a decrease in accruals and other liabilities.

Deferred revenue was €275 million at the end of Q1 '18, compared with €232 million at the end of the same quarter last year and €261 million at the end of last year. The year on year increase reflects the increased deferred revenue position related to Automotive contracts with upfront payments for multi-year service offerings.

Deferred revenue balance by segment

(€ in millions)   31 Mar 2018   31 Dec 2017
         
Automotive   128.3   98.0
Enterprise 5.9 15.7
Telematics 30.5 31.4
Consumer   110.5   116.3
Total   275.2   261.3

Totals calculated before rounding.

 

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