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Supplementary information

1Shareholder information

1.1

Investor Relations

TomTom is committed to providing a high degree of transparency and consistency in its reporting. We engage and maintain open dialogue with investors and analysts and have an extensive communication programme, which includes the General Meeting, roadshows, investor conferences, presentations, webcasts and in-house meetings. Related events are reported and regularly updated on the Investor Relations website.

TomTom strictly adheres to applicable rules and legislation on fair disclosure. Our goal is to inform investors about the company and its management, strategy, goals and expectations in a transparent, timely and consistent manner.

Investors and analysts are invited to contact our Investor Relations team with any information requests they have:

Website

The company's Investor Relations website corporate.tomtom.com/investor.cfm contains up-to-date financial information about TomTom. Investors and analysts are encouraged to visit the Investor Relations website regularly for a detailed and up-to-date coverage of the share price, shareholder meetings, quarterly and annual results, press releases, presentations, webcasts and Investor Relations-related events.

In addition, we recommend that investors and analysts visit TomTom's dedicated corporate website, which includes a wealth of information in relation to:

Financial calendar 2016


Table_73 Financial calendar

 
 
Date  Event 
19 April 2016 Publication Q1 2016 results
22 April 2016 General Meeting
19 July 2016 Publication Q2 2016 results
21 October 2016 Publication Q3 2016 results
 

Closed period

From the first day of the quarter until the publication of the quarterly results, the company is in a closed period. During this time we do not engage in discussions with analysts, investors and financial journalists or make presentations at investor conferences.

SHAREHOLDER STRUCTURE

An overview of the company's shareholders with a holding (voting rights) of 3% or more of the issued capital can be found in the Corporate Governance section. The following table shows the company's ordinary shareholder structure as at 31 December 2015:

Table_72 Shareholder structure

 
 
Name # shares % of total
Founder - Harold Goddijn 26,137,832 11.3%
Founder - Corinne Vigreux 26,137,831 11.3%
Founder - Pieter Geelen 26,137,831 11.3%
Founder - Peter-Frans Pauwels 26,137,832 11.3%
TOTAL FOUNDERS 104,551,326 45.4%
Free float 125,944,655 54.6%
TOTAL SHARES OUTSTANDING 230,495,981 100.0%
 

PrEFERRED SHARES

The Foundation Continuity TomTom was established in 2005. The purpose of the Foundation is to safeguard the interests of the company and all of its stakeholders. It does so by ensuring that the company is in a position to resist influences that could affect its independence, continuity and/or corporate identity in any manner that would be in contravention of the interests of the company or its stakeholders.

The company has granted the Foundation a call option entitling it to subscribe for preferred shares up to 100% of the aggregate outstanding share capital (excluding issued and outstanding preferred shares) of the company at the time of issue. An issue of preferred shares in the manner described would cause substantial dilution of the voting power of any shareholder whose objective was to gain control of the company.

Currently, there are no preferred shares outstanding. More information on the Foundation can be found in the Corporate Governance section.

1.2 SHARE PRICE PERFORMANCE in 2015

The graph below shows the indexed closing share price development of the company versus the AMX during 2015.




1.3

key share data


Table_74 Key share information (I)

 
 
(in €, unless stated otherwise) 2015 2014
Share price at the start of the year 5.53 5.15
Share price at the end of the year 11.61 5.53
Highest closing share price 12.29 6.62
Lowest closing share price 5.30 4.34
Market capitalisation at year end (€ in millions) 2,674 1,236
Average daily volume traded (# in thousands) 2,141 1,105
EPS - fully diluted 0.08 0.10
Adjusted EPS - fully diluted1 0.21 0.27
FCF per share - fully diluted -0.15 0.05
Weighted average number of shares outstanding (# in millions) 227.8 222.7
Weighted average number of shares fully diluted (# in millions) 232.4 225.1
 
1. Earnings per fully diluted share count adjusted for acquisition-related amortisation & gain on a post-tax basis.

1.4

Shares outstanding

TomTom N.V. had 230,495,981 shares outstanding as at 31 December 2015. The number of options outstanding was 10,532,136. The weighted average number of shares on a fully diluted basis was 232,377,771.

Listing

TomTom N.V. shares are traded on NYSE Euronext Amsterdam in the Netherlands, where the company is included in the Amsterdam Mid-Cap Index (AMX):

  • Euronext Amsterdam symbol: TOM2;
  • ISIN: NL0000387058;
  • Common Code: 021984272;
  • Amsterdam Security Code Number: 38705;

Share options of TomTom are traded on the Euronext Amsterdam Derivative Market.

Dividend policy

TomTom has no current plans to distribute dividends. The company gives priority to increasing technology investments to strengthen its capabilities and competitive position, whilst at the same time improving its balance sheet. The company believes that allocating its cash resources to these priorities, serves shareholders' interests better in the longer term.



2Key figures overview 2008-2015

Table_75 Key Figures Overview 2008 -2015

 
 
(€ in millions, unless stated otherwise) 2015 2014 2013 2012 2011 2010 2009 2008
INCOME AND EXPENSES                
Revenue 1,007 950 963 1,057 1,273 1,521 1,480 1,674
Gross result 519 523 521 555 640 744 731 781
Operating result1 1 21 26 70 102 190 231 264
Net result2 18 23 20 129 74 110 94 188
DATA PER SHARE                
Earnings per share (in €) - diluted3 0.08 0.10 0.09 0.58 -1.97 0.49 0.47 1.17
Adjusted earnings per share (in €) - basic3, 4 0.21 0.27 0.26 0.40 0.55 0.70 0.78 1.50
SHARES OUTSTANDING (#)                
Average # basic shares outstanding (in millions)3 228 223 222 222 222 222 184 148
Average # diluted shares outstanding (in millions)3 232 225 223 222 222 222 185 149
REGIONAL REVENUE SPLIT                
Europe 771 719 710 773 937 1,070 1,007 1,182
North America 186 163 178 208 257 380 411 434
Rest of world 49 68 76 76 79 70 62 59
CASH FLOW                
Cash generated from operations 123 135 188 187 195 265 430 463
Cash flows from operating activities 119 119 260 167 174 210 340 354
Cash flows from investing activities -154 -106 -91 -51 -73 -65 -90 -1,903
Cash flows from financing activities 29 -118 -74 -146 -214 -209 -206 1,408
Net (decrease) / increase in cash and cash equivalents -6 -106 95 -30 -112 -64 45 -142
BALANCE SHEET                
Goodwill 403 382 382 382 382 855 855 855
Intangible assets 811 801 804 821 872 946 986 1,011
Inventories 49 47 42 44 66 94 67 145
Trade receivables 139 133 115 150 185 306 294 290
Cash and cash equivalents 148 153 258 164 194 306 368 321
Provisions 68 83 80 81 101 109 114 113
Borrowings 49 49 173 247 384 588 790 1,388
Trade payables 95 88 82 84 117 218 201 152
Total equity and liabilities 1,680 1,601 1,678 1,724 1,799 2,623 2,686 2,767
Net cash / (Net debt) 98 103 83 -86 -194 -294 -442 -1,109
KEY RATIOS5                
Days sales of Inventory (DSI) 31 33 31 30 31 31 21 47
Days sales outstanding (DSO) 44 46 39 47 48 55 51 51
Creditor days 60 63 60 57 56 72 64 49
NUMBER OF EMPLOYEES (#)                
At end of period (FTE) 4,605 4,116 3,630 3,441 3,677 3,487 3,138 3,357
 
1. Operating result excludes the acquisition-related impairment charges (2011: €512 million; 2008: €1,047 million) and restructuring charges (2011: €14.8 million; 2010: €3.3 million; 2009: €10.3 million; 2008: €16.5 million).
2. Net result excludes the abovementioned impairment and restructuring charges and the related tax effects.
3. The earnings per share number and the weighted average number of shares outstanding for all years before 2009 have been adjusted to reflect the impact of the right offering that took place in July 2009.
4. Earnings per share adjusted for acquisition-related amortisation and gain, goodwill impairment and restructuring charges on a post-tax basis, and an €80 million one-off tax gain in 2012.
5. Calculated based on the sales/cost of sales and the number of days in the last three months of the year.

3Quarterly income statement 2015

Table_76 Quarterly summary income statement 2015

 
 
(€ in thousands, unless stated otherwise; quarterly data unaudited) Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015
REVENUE 205,275 264,613 254,231 282,488 1,006,607
Cost of sales 95,403 129,993 119,161 143,523 488,080
GROSS RESULT 109,872 134,620 135,070 138,965 518,527
           
Research and development expenses 43,290 52,071 43,275 46,807 185,443
Amortisation of technology and databases 18,522 18,644 19,589 19,939 76,694
Marketing expenses 9,748 25,297 22,616 25,777 83,438
Selling, general and administrative expenses 43,381 38,029 44,703 46,239 172,352
TOTAL OPERATING EXPENSES 114,941 134,041 130,183 138,762 517,927
           
OPERATING RESULT -5,069 579 4,887 203 600
           
Interest result -204 -223 -328 -170 -925
Other financial result -2,574 301 -2,633 -2,437 -7,343
Result of associates 97 116 -210 164 167
RESULT BEFORE TAX -7,750 773 1,716 -2,240 -7,501
           
Income tax gain / (charge) 845 1,762 8 23,179 25,794
NET RESULT -6,905 2,535 1,724 20,939 18,293
Attributable to:          
- Equity holders of the parent -7,145 2,631 1,812 20,824 18,122
- Non-controlling interests 240 -96 -88 115 171
NET RESULT -6,905 2,535 1,724 20,939 18,293
           
MARGINS          
Gross margin (%) 54% 51% 53% 49% 52%
Operating margin (%) -2% 0% 2% 0% 0%
           
CALCULATION OF ADJUSTED EARNINGS PER SHARE (€ in million)          
Net result attributed to equity holders -7.1 2.6 1.8 20.8 18.1
Remeasurement of deferred tax liability 0.0 0.0 0.0 -7.5 -7.5
Acquisition-related amortisation 12.8 13.0 13.1 13.2 52.1
Tax effect of adjustments -3.3 -3.2 -3.3 -3.3 -13.1
ADJUSTED NET RESULT 2.4 12.4 11.6 23.2 49.6
           
Basic number of shares (in thousands) 224,429 227,240 229,199 230,131 227,771
Diluted number of shares (in thousands) 228,661 234,547 236,881 237,656 232,378
           
EARNINGS PER SHARE          
Basic EPS (in €) -0.03 0.01 0.01 0.09 0.08
Fully diluted Adjusted EPS (in €) 0.01 0.05 0.05 0.10 0.21
 

4Quarterly statement of cash flows 2015

Table_77 Quarterly summary statement of cash flows 2015

 
 
(€ in thousands, quarterly data unaudited) Q1 2015 Q2 2015 Q3 2015 Q4 2015 FY 2015
Operating result -5,069 579 4,887 203 600
           
Financial gains / (losses) 1,970 1,974 -6,586 278 -2,364
Depreciation, amortisation and impairment 26,493 27,262 27,805 41,536 123,096
Equity-settled stock compensation expense -3,709 -1,116 -1,250 9,863 3,788
Change in provisions 946 1,124 672 -18,128 -15,386
Change in working capital:          
Change in inventories 823 -1,547 -5,776 8,968 2,468
Change in receivables and prepayments 13,211 -44,668 -3,838 17,257 -18,038
Change in current liabilities (excluding provisions)1 -46,562 44,301 33,021 -1,645 29,115
CASH GENERATED FROM OPERATIONS -11,897 27,909 48,935 58,332 123,279
           
Interest received 116 173 103 112 504
Interest paid -239 -315 -347 -57 -958
Corporate income taxes (paid) / received -1,209 20 -2,031 -830 -4,050
CASH FLOWS FROM OPERATING ACTIVITIES -13,229 27,787 46,660 57,557 118,775
           
Investments in intangible assets -18,791 -22,120 -23,369 -21,874 -86,154
Investments in property, plant and equipment -5,162 -5,026 -7,371 -4,018 -21,577
Acquisition of subsidiaries and other businesses 0 -16,961 -500 -29,190 -46,651
Dividend received 0 0 105 62 167
CASH FLOWS FROM INVESTING ACTIVITIES -23,953 -44,107 -31,135 -55,020 -154,215
           
Change in utilisation of credit facility -10,000 5,000 -15,000 15,000 -5,000
Change in non-controlling interest 0 -126 0 0 -126
Proceeds on issue of ordinary shares 11,198 15,680 3,035 4,484 34,397
CASH FLOWS FROM FINANCING ACTIVITIES 1,198 20,554 -11,965 19,484 29,271
           
NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS -35,984 4,234 3,560 22,021 -6,169
Cash and cash equivalents at the beginning of period 152,949 117,367 121,627 124,427 152,949
Effect of exchange rate changes on cash balances held in foreign currencies 402 26 -760 1,117 785
CASH AND CASH EQUIVALENTS AT THE END OF PERIOD 117,367 121,627 124,427 147,565 147,565
 
1. Includes movements in the non-current portion of deferred revenue presented under Non-current liabilities.

5Definitions and abbreviations

Table_78 Definitions and abbreviations

 
 
Term Definition
ADAS Advanced Driver Assistance Systems
AFM the Netherlands Authority for Financial Markets
AMX the Amsterdam Mid-Cap Index
Apps Applications
ARPU Average Revenue Per User
ASP Average Selling Price
Code the Dutch Corporate Governance Code
Company TomTom NV
CSR Corporate Social Responsibility
EBIT Earnings Before Interest and Taxes
EBITDA Earnings Before Interest, Taxes, Depreciation and Amortisation
EICC the Electronic Industry Citizenship Coalition
EMEA17 AT, CH, DE, BE, NL, FR, IT, GB, ES, PT, TR, CZ, PL, DK, SE, FI, ZA
ETA Expected Time of Arrival
ETR Effective Tax Rate
Foundation Foundation Continuity TomTom
GIS Geographical Information System
GPS Global Positioning System
Group TomTom NV together with its subsidiaries
HD High definition
IFRS International Financial Reporting Standards
ISO International Standardisation Organisation
KPI Key Performance Indicators
LTM Last Twelve Months
NavKit TomTom navigation technology engine
NDS Navigation Data Standard
North America The United States and Canada
OEM Original Equipment Manufacturer
OS Operating System
PDA Personal Digital Assistant
PND Portable Navigation Device
R&D Research & Development
SDK Software Development Kit
WEBFLEET TomTom Telematics' fleet management platform
 

5.1