Tele Atlas N.V.
Tele Atlas N.V. english
Tele Atlas reports results in line with expectations
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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* Result from European activities continues to improve
* Global revenues stable
* Lower revenues and EBITDA in North America
* Growth market PDA navigation software
* Difficult North American market environment in the short term
* Major shareholders express confidence
Tele Atlas, one of the world’s leading developers of detailed geographical
databases, realized revenues of EUR 18,5 million for the first quarter of 2003,
slightly lower than in the comparable period of 2002. Adjusted for currency
movements, revenues remained unchanged.
The group realized an operating loss (EBIT) of EUR 7.8 million (first quarter
2002: EUR 5.8 million), principally on account of higher depreciation and
amortization. Net loss came to EUR 7.9 million (first quarter 2002: EUR 4.9
million).
In Europe, revenues increased from EUR 15.7 million to EUR 16.4 million, nearly
all due to the navigation market and the growth in the number of PDAs with
navigation software. With European operating expenses unchanged due to cost
control measures, EBITDA in Europe increased by 14% to EUR 6.7 million.
In North America, first-quarter revenues fell to EUR 2.1 million owing to the
expected decline in service activities for third parties and lower income from
patents. As a result, the EBITDA loss rose by EUR 1.3 million to EUR 4.2
million. The North American database, the most powerful ever built, was
officially marketed in January 2003 and is expected to increase Tele Atlas’s
market share in North America. Owing to the time required for testing and
incorporating the data into systems and applications, the growth will only feed
through in the course of 2004.
In February, Tele Atlas successfully launched navshop.com, a web shop for
navigation CDs. Tele Atlas expects further growth in EBITDA and EBIT in Europe
in 2003.
http://www.teleatlas.com
end of ad-hoc-announcement (c)DGAP 14.05.2003
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WKN: 927101; ISIN: NL0000233948; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
140800 Mai 03
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