TomTom: first quarter 2023 outcomes


TomTom data strong development in Location Expertise

TOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN –

“We had an excellent begin to the yr, with our Location Expertise enterprise persevering with to collect momentum within the first quarter.

Our new TomTom Maps Platform, which we introduced final yr, will allow us to make additional inroads within the Enterprise and Automotive markets. The brand new maps will add important worth for our clients and companions as they’ll present world protection, richer attributes, and quick information integration.

We’re on observe for a phased launch of our new maps throughout geographies and markets, including options to help more and more refined use instances. In anticipation of the beginning of the roll-out, we’ve elevated our gross sales and advertising efforts throughout the quarter.”

OPERATIONAL SUMMARY

  • We deepened our partnership with SAP, integrating our Maps APIs with their cloud-based SAP HANA Spatial Providers providing
  • Our new Navigation SDK has been obtained properly, exhibiting traction in Enterprise markets like fleet & logistics, ride-hailing, and meals supply
  • We doubled our superior driver help programs (ADAS) put in base to over 10 million automated automobiles, outperforming market development
  • Sale of fairness curiosity in Cyient Ltd. for a complete transaction worth of €15 million

FINANCIAL SUMMARY FIRST QUARTER 2023

  • Group income elevated by 10% to €141 million (Q1 ’22: €128 million)
  • Location Expertise income elevated by 12% to €118 million (Q1 ’22: €105 million)
  • Automotive operational income elevated by 22% to €84 million (Q1 ’22: €68 million)
  • Free money flow1 is an influx of €10 million (Q1 ’22: outflow of €23 million)
  • Web money of €321 million (This fall ’22: €304 million)

KEY FIGURES

TomTom Q1 2023 Key Figures Table

TOMTOM’S CHIEF FINANCIAL OFFICER, TACO TITULAER –

“We recorded year-on-year Location Expertise income development within the first quarter. Our Automotive enterprise grew on a reported foundation, additionally when correcting for the change in income recognition for brand spanking new map subscription contracts. With a 22% year-on-year enhance, Automotive operational income outperformed the expansion of automotive manufacturing volumes in our core markets. Our Enterprise enterprise carried out in step with our expectations.

Working bills confirmed a year-on-year decline, primarily because of the realignment of our Maps group introduced final yr. Features from realized efficiencies in our mapmaking platform had been partially offset by continued investments in our utility layer and gross sales and advertising actions.

Throughout the first quarter, a one-off acquire from the sale of our fairness curiosity in Cyient Ltd. improved our web money place.

We stay assured that we are able to ship on our steerage, and reiterate it at present. Supported by rising revenues, we count on to generate optimistic free money flow1 within the vary of 0% to five% of group income this yr.”

SOURCE: TomTom

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