Tele Atlas 2007 revenues up 17%

Net income grew 565% to €24.4 million

Tele Atlas today reported its financial results for the fourth quarter and full year of 2007. Full year revenues increased 17% to €308.0 million from €264.3 million in 2006. Full year adjusted EBITDA increased 45%, to €63.6 million in 2007. Tele Atlas generated a positive full year net income of €24.4 million.

Fourth quarter revenues increased 17% to €96.9 million and fourth quarter adjusted EBITDA increased 49% to €31.3 million. Portable Navigation grew 35% and Internet and Wireless grew 66% over 2006.

Tele Atlas CEO, Alain De Taeye, said: “This was a landmark year for Tele Atlas. We saw record numbers of portable navigation devices sold worldwide, strong growth in the wireless and Internet sectors, innovation in automotive navigation, and the announcement that TomTom intends to acquire the company. Tele Atlas stands ready to lead a new era in the digital map industry, one in which interaction with and feedback from the end user community helps us get closer to the ideal of creating maps in real time that accurately reflect the ever-changing world around us.”

In the personal navigation segment the total revenue for the year was €171 million accounting for 14.7 million map units (bundled with a device), and 600,000 as standalone - versus a total of 7.5 million units in 2006. The average selling price for these maps was a slightly over €11 in 2007.

Revenues in the EMEA portable navigation segment grew by 22% to €137.4 million from €112.2 million in 2006. Revenues in the Americas portable navigation segment grew by 136% to €32.5 million from €13.8 million in 2006 as a result of the rapid growth in the market for portable navigation systems.
Tele Atlas largest customer in 2007 was TomTom, representing 32% of revenues against 26% in 2006. The second biggest customer was Mio/Navman with 13%.

Online and wireless
Revenue in the Internet/wireless market increased by 66% to €24.4 million in 2007, compared to €14.7 million in 2006.

“Although volume in this market segment remained limited in 2007, Tele Atlas firmly believes that the quality of its map data, combined with its relationships with companies such as Google, RIM, Mappy and Wayfinder, leave it well positioned in this emerging market. The Company’s growing relationship with Google is expected to produce unique business opportunities in the future”, said the company which has seen last year its map data chosen to power Google Maps for Mobile and Google Earth in Europe.
Tele Atlas also closed an agreement with Sony Ericsson for the P1i Smartphone. In 2007, Tele Atlas sold more than 200,000 regional maps for navigation as a result of this partnership.

Thursday, February 28th 2008

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