Third quarter 2021 results
Oct 14, 2021
Amsterdam, the Netherlands, 14 October 2021, 7:00 AM CEST
TomTom pushes forward despite reduced car productionTOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN"The first nine months of 2021 have delivered both positives and negatives. Enterprise continues to perform solidly. But the recovery of Automotive has lagged expectations because industrywide semiconductor supply chain issues are hampering car production volumes.
Encouragingly, the way we engage with our customers is evolving from a traditional supplier relationship to a partner approach. This is leading to longer-term partnerships, customer intimacy, productive software engineering collaborations and better products."
OPERATIONAL SUMMARYThe extension of our long-standing partnership with Enterprise software company Precisely, a leading player in data management and integrity
The launch of the new Jeep Grand Cherokee and Jeep Compass including our full stack navigation technology
The launch of the new Fiat Ducato, Europe’s most popular van, equipped with navigation, ADAS and connected services
Group revenue decreased by 14% (Q3 '20: €148 million)
Location Technology decreased by 10% (Q3 '20: €106 million)
Automotive operational revenue decreased by 17% to €58 million (Q3 '20: €70 million)
Free cash flow is an outflow of €14 million (Q3 '20: outflow of €20 million)
Net cash of €302 million (Q2 '21: €319 million)
TOMTOM’S CHIEF FINANCIAL OFFICER, TACO TITULAER"Location Technology revenue declined 10% compared with the previous year as semiconductor supply chain issues limited car production volumes, and therefore Automotive revenue. Enterprise performed solidly with 8% growth compared to the previous year, because of contract expansions from previous periods.
We reiterate our revenue guidance, though we anticipate full year revenue will be at the low end of the range because supply chain issues will continue to limit car production volumes. This has a direct impact on our operational revenue and thus on our cash flow. Consequently, we are lowering our full year 2021 FCF guidance as a percentage of group revenue to around 2%.”
View the full TomTom third quarter 2021 results press release on our quarterly results website.
About TomTom
Billions of data points. Millions of sources. Thousands of communities.
We are the mapmaker bringing it all together to build the world’s smartest map. We provide location data and technology to drivers, carmakers, businesses and developers. Our application-ready maps, routing, real-time traffic, APIs and SDKs empower the dreamers and doers to move our world forward.
Headquartered in Amsterdam with 3,300 employees around the globe, TomTom has been shaping the future of mobility for over 30 years.
www.tomtom.com