Tele Atlas N.V.
TELE ATLAS N.V. REPORTS ANNUAL RESULTS 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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‘s Hertogenbosch April 27, 2004 -Tele Atlas, one of the world’s leading
developers and producers of detailed geographical databases, realized revenues
of EUR 86.5 mio for 2003, an increase of 10% on 2002.
In Europe, revenue increased by 17% to EUR 78.4 mio. North American revenue
decreased by 29% from EUR 11.3 mio in 2002 to EUR 8.0 mio in 2003. EBITDA of the
group amounted to EUR 16.5 mio (2002: EUR 17.0 mio). Operating Result (EBIT)
declined from EUR -19.0 million in 2002 to EUR -23.7 million in 2003. After an
impairment charge of EUR 62.0 mio taken on the database of the North American
operations in connection with the proposed acquisition of GDT EBIT amounted to
EUR -85.7 mio.
The Net result without impairment charge was EUR -25.3 mio (2002: EUR -18.6
mio).Net cash from operating activities increased from EUR 9.3 mio in 2002 to
EUR 20.9 mio in 2003 mainly due to improved management of working capital.
In Europe, revenues in the in-car navigation market, accounting for
approximately 70% of total European revenues, increased in line with
expectations. Revenues on database products in other segments were boosted by
growth in revenues in the personal navigation segment on PDA’s. The operating
result (EBIT) improved from 4.5 mio in 2002 to EUR 8.0 mio in 2003
Revenues in North America decreased by 29% from EUR 11.3 million in 2002 to EUR
8.0 mio. This decrease is attributed to contract work and revenues from
navigation patents for the Japanese market which are being phased out. The
operating loss (EBIT) for the North American activities increased from EUR 23.4
mio to EUR 27.4 mio mainly as a result of lower sales. After an impairment
charge of EUR 62.0 mio connected to the acquisition of GDT the operating loss
amounted to EUR 89.4 mio.
For more information: http://www.teleatlas.com
end of ad-hoc-announcement (c)DGAP 27.04.2004
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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
270830 Apr 04
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