Encouraging start to the year
TomTom’s Chief Executive Officer, Harold Goddijn
“We had a healthy start to the year, recording growing revenues and solid strategic progress. Our Enterprise business continues to benefit from the investments we have made in our maps. With broadened capabilities and extended market reach, TomTom Orbis Maps is building commercial momentum across sectors like geospatial analytics and fleet management.
As a result of our investments, our Automotive business is well positioned to meet the evolving needs of carmakers. We are ready to provide them with easy-to-integrate products that deliver outstanding user experiences. This readiness comes at a pivotal moment, as carmakers are eager to move faster with software, provide enhanced customer value and achieve higher levels of control. In parallel, we have introduced 3D map layers that provide the high-definition data essential to support the industry’s push toward higher levels of advanced vehicle autonomy.
We are progressing in unlocking the opportunities we currently see materializing and remain confident in our long-term trajectory, even though trade tensions and subsequent uncertainty mean we need to navigate a less predictable short-term outlook.”
Operational summary
- We gained strong commercial traction in location analytics and fleet management, with our products being selected to help optimize EV charging networks, analyze climate risks, streamline fleet routing and much more
- We achieved good technological and commercial progress with our 3D map layers, forming an ecosystem ready to support the new wave of automated driving services
- We joined the EU AI Champions Initiative, reinforcing our commitment to driving AI innovation across Europe
Financial summary
- Group revenue increased by 1% to €140 million (Q1 ’24: €139 million)
- Location Technology revenue increased by 2% to €121 million (Q1 ’24: €119 million)
- Automotive operational revenue increased by 5% to €83 million (Q1 ’24: €79 million)
- Free cash flow was an outflow of €3 million (Q1 ’24: outflow of €9 million)
- Net cash of €257 million (Q4 ’24: €264 million)
Key figures
TomTom’s Chief Financial Officer, Taco Titulaer
“Our first-quarter performance was encouraging. The Location Technology business recorded growing revenues year on year, and we realized a strong gross margin.
From both a commercial and product development point of view, we made good headway with our 3D map layers. Following the launch of these groundbreaking layers earlier this year, we’ve seen an enthusiastic response from the market and are confident that they will enable increased levels of automation in vehicles over the years to come. In reflection of this, we have started capitalizing the engineering work associated with these map layers, which also translated into a positive impact on our EBIT.”
SOURCE: TomTom
