TOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN

"We made good progress toward our goals in 2023, delivering revenue growth in Location Technology, improving our profitability, and bringing our new maps to market. We are excited to see growing interest from customers and prospects in TomTom Orbis Maps, which provide enhanced coverage, richness, and freshness.

From a commercial standpoint, we recorded robust order intake, culminating in a record €2.5 billion Automotive backlog. Combined with the significant and growing sales funnel we established in Enterprise there is a strong foundation for sustained revenue growth and improved profitability in the periods ahead."

OPERATIONAL SUMMARY

We joined forces with Microsoft to bring generative AI into the vehicle through the development of an AI-based conversational assistant, enabling improved interaction with infotainment, location search, and command systems
We signed a new contract with Bridgestone Mobility Solutions powering their fleet management software with our full location technology stack, including EV data and routing products
We announced a €50 million share buyback program in order to reduce our share capital

FINANCIAL SUMMARY FOURTH QUARTER 2023

Group revenue increased by 3% to €143 million (Q4 '22: €139 million)
Location Technology revenue increased by 7% to €125 million (Q4 '22: €118 million)
Automotive operational revenue increased by 1% to €83 million (Q4 '22: €82 million)
Free cash flow1 is an inflow of €5 million (Q4 '22: outflow of €15 million)

FINANCIAL SUMMARY FULL YEAR 2023

Group revenue increased by 9% to €585 million (FY '22: €536 million)
Location Technology revenue increased by 12% to €491 million (FY '22: €436 million)
Automotive operational revenue increased by 16% to €343 million (FY '22: €296 million)
Free cash flow1 is an inflow of €32 million (FY '22: outflow of €29 million)
Net cash of €315 million (FY '22: €304 million)

see & read more on https://www.tomtom.com/newsroom/press-releases/earnings-other/28191/fourth-quarter-and-full-year-2023-results/