Tele Atlas has realized revenues of EUR 57.2 million for the first nine months of 2002, an increase of 5% on the comparable period of 2001.
· Increased profitability
· Positive EBIT of EUR 1.1 million in Europe
· Stronger base in Europe and the United States
In Europe, nearly all the 6% organic growth in revenues was achieved in the in-car navigation segment through higher sales of updates and specialty CD ROMS in the aftermarket. In the other market segments -– GIS applications, Location Based Services (LBS) and Telematics – revenues were 5% higher than in the first nine months of 2002 thanks chiefly to Tele Atlas’s operations in North America.
EBITDA improved from EUR 2.9 million to EUR 10.9 million, chiefly on account of the significant fall in costs in Europe. EBITDA in Europe advanced by 69% to EUR 20.4 million. EBIT amounted to EUR 1.1 million. The capital expenditure incurred for the intensification of the American activities led to a modest decline in EBITDA by EUR 0.3 million to EUR 9.5 million negative. As a result, the net loss came to EUR 15.6 million.