TomTom reports third quarter 2019 results

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Algemeen advies 16/10/2019 08:31
Group revenue decreased by 7% to €164 million (Q3 '18: €176 million)
Automotive operational revenue increased by 23% to €88 million (Q3 '18: €72 million)
Automotive reported revenue decreased by 7% to €55 million (Q3 '18: €59 million)
Automotive net deferred and unbilled revenue increased by €33 million (Q3 '18: €12 million)
Enterprise reported revenue increased by 21% to €41 million (Q3 '18: €34 million)
Free cash flow is an inflow of €23 million (Q3 '18: inflow of €15 million)

Navigation technology is now integrated in the Microsoft Connected Vehicle Platform
Mapmaking platform further enhanced: 2.4 billion modifications completed in a single month
Over 1 million TomTom ADAS enabled vehicles on the road today
Launched our own fully self-driving vehicle, Trillian, to test autonomous driving technologies
New Maps APIs for electric vehicles range anxiety applications now available

We reiterate our FCF guidance of around 9% as a percentage of Group revenue; Updated Group revenue guidance of around €700 million, of which Location Technology revenue of around €425 million.


“We recently held our Capital Markets Day, where we showcased the key opportunities shaping our industry and our strategy to capture growth through our core technologies. We also presented our mid-term financial outlook, where we expect our Location Technology revenue to increase with a CAGR of around 10% between 2018 and 2021, supported by an Automotive backlog of €1.6 billion.

Developing cutting-edge technology has helped us to build strong relationships with leading technology companies. We integrated our navigation technology with Microsoft’s connected vehicle platform, and in combination, offer the full stack of the end car-user experience through the cloud, including data analytics possibilities for OEMs. It's a very promising partnership that will develop over the years.”

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tijd 09.23
TomTom EUR 9,999 -27,8ct vol. 131.000

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