Brief: TomTom Confirms 2023 Outlook

TomTom NV

13/10/2023 06:09

Oct 13 (Reuters) - TomTom NV  TOM2.AS :
    * TOMTOM NV Q3 COMPANY-COMPILED CONSENSUS: NET CASH OF EUR
312
MILLION; FREE CASH OUTFLOW (EXCLUDING. RESTRUCTURING) EUR 5
MILLION
    * FOR FULL YEAR 2023, WE REITERATE OUR GUIDANCE AND EXPECT
GROUP
REVENUE TO GROW TO BETWEEN EUR 570 MILLION AND EUR 600 MILLION,
WITH LOCATION TECHNOLOGY REVENUE BETWEEN EUR 480 MILLION AND EUR
505 MILLION
    * Q3 COMPANY-COMPILED CONSENSUS: OPERATING LOSS (EBIT) EUR
11
MILLION; REVENUE EUR 145 MILLION; NET LOSS EUR 9 MILLION
    * FOR 2023: FREE CASH FLOW IS EXPECTED TO BE AROUND +5% OF
GROUP
REVENUE
    * Q3 LOCATION TECHNOLOGY REVENUE WAS €119 MILLION, A
YEAR-ON-YEAR
INCREASE OF 10% (Q3 '22: €108 MILLION)
    * Q3 AUTOMOTIVE OPERATIONAL REVENUE INCREASED BY 13% TO €85
MILLION (Q3 '22: €75 MILLION)
    * WE EXPECT TO SIGNIFICANTLY EXPAND THE COVERAGE OF THE MAPS
BEFORE THE END OF THE YEAR
    * DURING THE  QUARTER, WE LAUNCHED THE TOMTOM PLUGIN FOR
CHATGPT
    * THIS FIRST-OF-ITS-KIND LLM PLUGIN FOR LOCATION TECHNOLOGY 
ENABLES SUBSCRIBERS OF CHATGPT PLUS TO USE AI TO PLAN TRIPS AND
DISCOVER AND EXPLORE NEW PLACES

Source text for Eikon:  ID:nNDL3Nn4mZ 
Further company coverage:  TOM2.AS 

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