TomTom reports third quarter 2019 results

Group revenue decreased by 7% to €164 million (Q3 '18: €176 million)

Financial summary

  • 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)

Operational summary

  • 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

Outlook

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.

Please click here to view the full press release.

SOURCE: TomTom

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