TomTom Reports First Quarter 2015 Results

Gross margin

The gross margin for the quarter was 54%, which is 3 percentage points lower compared to 57% in Q1 '14. The year on year decrease was mainly due to weakening of the euro against the US dollar.

At constant currency rates for the US dollar and GB pound, our gross margin and operating result were relatively flat year on year whilst revenue was slightly down.

             

Actual key Q1 '15 financials recalculated

based on last year (Q1 '14) FX rates

(€ in millions, unless stated otherwise)

    Q1 '15

actual
reported
    Q1 '15
recalculated at
Q1 '14

FX rates1

             
Revenue     205     199
 
Gross result 110 113
Gross margin 53.5% 57.0%
 
EBIT -5 2
EBIT margin -2.5% 0.9%
 
P&L RATES IN € Q1 '15 Q1 '14
US dollar 1.15 1.37
GP pound     0.75     0.83

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