TomTom: second quarter 2022 outcomes

TomTom’s chief govt officer, Harold Goddijn –

“Our Location Know-how enterprise carried out in accordance with expectations within the second quarter, recording strong development in Enterprise, and performing in keeping with the Automotive market.
Within the Enterprise enterprise we secured a number of offers, underlining the flexibility and competitiveness of our expertise and choices. Deal exercise in Automotive, in the meantime, stays sturdy this 12 months.
We now have made important progress with the automation of our mapmaking platform and are within the strategy of realigning our Maps group. With these greater ranges of automation and the combination of quite a lot of new digital sources, we could have more energizing and richer maps, with wider protection.”

Operational abstract

Monetary abstract second quarter 2022

  • Group income remained fixed at €133 million (Q2 ’21: €133 million)
  • Location Know-how income elevated by 2% to €105 million (Q2 ’21: €103 million)
  • Automotive operational income elevated by 12% to €71 million (Q2 ’21: €63 million)
  • Working bills included a restructuring cost of €31 million
  • Free money circulation is an influx of €0.2 million (Q2 ’21: outflow of €16 million)
  • Internet money of €329 million (Q1 ’22: €331 million)

Key figures

TomTom’s chief monetary officer, Taco Titulaer –

“We had a strong first half of the 12 months, regardless of exterior uncertainties reminiscent of excessive inflation and strained provide chains. Within the second quarter, group income was flat 12 months on 12 months. Secure efficiency in Automotive and development in Enterprise offset a foreseen decline in Client.

Our working bills had been impacted by a €31 million restructuring cost associated to the realignment of our Maps group. As well as, underlying working bills elevated as a result of  continued investments we’re making to assist our utility roadmap.

Free money circulation for the quarter improved 12 months on 12 months, ensuing from constructive working capital improvement and a marked enhance in Automotive operational income.

Regardless of the uncertainties available in the market, we stay assured that we are able to ship on our preliminary steering. We anticipate comparatively flat Location Know-how income for 2022, and development for 2023. The anticipated FCF enhance between 2022 and 2023 is pushed by a mixture of effectivity good points following the enhancements in our mapping expertise and operational income development, whereby the latter accounts for greater than half of the impact.”


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