
Stable Location Technology revenue in 2024, amidst challenging automotive market
TOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN
"We are pleased with the development of our Enterprise business. The continued adoption of our platform by customers like Microsoft and Esri is driving growth. With our mapmaking technology, based on the Overture open-source specification, we are delivering added value across a broadening set of use cases.
In contrast, our Automotive business has been facing challenging market conditions. Mainly as a result of lowered expectations for near-term volumes, our Automotive backlog decreased to €2.1 billion. Despite this, our deep and unique relationships with our customers give us good visibility across the range of medium-term commercial opportunities that we see continuing to develop. Our recently unveiled 3D map layers will enable us to support next-generation automated driving solutions and advanced visualization use cases across industries. As we unlock these opportunities, this will drive top-line growth and cash generation over time."
OPERATIONAL SUMMARY
We partnered with Esri to deliver advanced location analytics to governments and businesses
Our applications saw increased uptake in the fleet and logistics space by the likes of YellowFox and FleetLab
We significantly enhanced TomTom Orbis Maps, offering immersive, true 3D lane geometry for any road
FINANCIAL SUMMARY FOURTH QUARTER 2024
Group revenue decreased by 1% to €142 million (Q4 '23: €143 million)
Location Technology revenue decreased by 2% to €122 million (Q4 '23: €125 million)
Automotive operational revenue increased by 6% to €88 million (Q4 '23: €83 million)
FINANCIAL SUMMARY FULL YEAR 2024
Group revenue decreased by 2% to €574 million (FY '23: €585 million)
Location Technology revenue decreased to €489 million (FY '23: €491 million)
Automotive operational revenue decreased by 5% to €326 million (FY '23: €343 million)
Free cash flow1 is an outflow of €4 million (FY '23: inflow of €32 million)
Net cash decreased, mainly due to a €39 million share buyback cash-out, to €264 million (FY '23: €315 million)
Automotive backlog decreased to €2.1 billion (FY '23: €2.5 billion)
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