2014 Financial highlights

In 2014, we delivered revenue of €950 million, 1% lower compared to €963 million in 2013. The PND was the biggest revenue contributor for the Group in 2014. Our Telematics and sports businesses grew strongly to counterbalance the reduction in PND and Automotive hardware revenue in Consumer. Our Automotive and Licensing business units both showed a modest decline year on year.

Revenue from Content & Services was €407 million in the year and accounted for 43% of total revenue. Hardware revenue for the year amounted to €543 million and accounted for 57% of total revenue. From a regional perspective, 76% of our 2014 revenue was generated in Europe, 17% in North America and the remaining 7% in the rest of the world.

In 2014, we broadened our product portfolio and invested more in advertising to support this. We made significant investments in our new map-making platform, and in the components of our Connected Navigation System. Our Group EBITDA reached €136 million in 2014, slightly lower compared to last year (2013: €143 million).