Tele Atlas N.V.
Tele Atlas N.V. english
Further first half growth in Tele Atlas’s European activities
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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* Worldwide revenues slightly higher
* European activities continue their rising trend; significant growth second
quarter
* Lower revenues and result in North America in line with forecast
* Commercial basis reinforced with new contracts
Tele Atlas, a worldwide leading developer of digital geographic databases,
realized first half revenues of EUR 40.6 million, an overall increase of 3%
relative to the same period in 2002. In contrast with a sustained revenue
increase in Europe of 10% to EUR 36.4 million, revenues declined in North
America by 33% to EUR 4.1 million, in line with the forecast.
The operating loss (EBIT) of the group was EUR 13.6 million (Q2 2002: loss of
EUR 10.1 million). This decline was mainly attributable to higher depreciation
charges on the capitalized databases. The net loss for the entire group was EUR
14.3 million (Q2 2002: loss of EUR 9.5)
Growth continued in Europe despite the unfavorable economic conditions. Revenues
improved by almost 10% to EUR 36.4 million. This improvement was completely
attributable to the navigation market and expansion of the market for PDAs with
navigation software.
The first half revenues in North America declined relative to the comparable
period in 2002 from EUR 6.2 to EUR 4.1 million. The decline in these activities
is in line with forecast.
In Europe, the positive developments in the navigation after market and the
expansion in the PDA market are cause for satisfaction. Tele Atlas therefore
expects further EBITDA and EBIT growth in Europe in 2003. The current market
conditions in North America remain difficult. However, the long term prospects
continue to be favorable. Although trials and evaluations have now been carried
out by important prospects, Tele Atlas does not expect the new database to make
any significant contribution to revenues in the coming year.
investor.relations@teleatlas.com
end of ad-hoc-announcement (c)DGAP 05.08.2003
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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
050830 Aug 03
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