Tele Atlas N.V.
Tele Atlas N.V. english
Tele Atlas revenues up by 5% in the first three quarters
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Tele Atlas revenues up by 5% in the first three quarters
‘s-Hertogenbosch, November 7, 2002
Tele Atlas, a worldwide leading developer in digital geographic databases,
improved its revenues for the first nine months of 2002 by 5% to EUR 57.2
million (first nine months 2001: EUR 54.3 million). The operating result for the
European business grew from a loss of EUR 4.8 million in the first three
quarters of 2001 to an operating profit of EUR 1.1 million.
Due to the successful cost reduction programs, EBITDA improved from EUR 2.9
million to EUR 10.9 million. EBITDA for Europe rose by 69% from EUR 12.1 million
to EUR 20.4 million. As expected, EBITDA in the United States rose from a loss
of EUR 9.2 million to a loss of EUR 9.6 million.
The net loss from January to September amounted to EUR 15.4 million, compared to
EUR 13.8 million in the first three quarters of 2001. This was due chiefly to
the high level of investments for the build-up of the American database, which
is now at a competitive level and suitable for the development of many advanced
products for a variety of segments.
Despite the growth in revenues, Tele Atlas sees no signs for a rapid economic
recovery for the remainder of 2002. The company expects growing market shares
and revenues thanks to new and enhanced partnerships as with Becker and Siemens
VDO in navigation and with Telcontar, Autodesk, TomTom and Pharos in location
based services. In Europe, EBITDA will improve as planned. Positive reactions to
the new North American database have reaffirmed that Tele Atlas is on the right
track.
For more information: http://www.teleatlas.com
end of ad-hoc-announcement (c)DGAP 07.11.2002
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WKN: 927101; ISIN: NL0000233948; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
070801 Nov 02
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