TomTom : Limited changes to our forecasts for 2025 and beyond
>The 2Q23 results were good - TomTom posted a solid set of 2Q results yesterday. Revenues increased 18% yoy (excluding one offs revenues were up 14%) with all revenue lines beating consensus expectations. Operational Automotive revenues increased 28% and outperformed car production trends in core markets. Opex was roughly flat yoy, but slightly higher (3%) than expected by consensus. Taking all into account EBITDA came in 53% higher than expected. From a cash flow per...TomTom develops and sells of navigation and location-based solutions, which include among others, Portable Navigation Devices, sport watches, maps, traffic, navigation software and fleet management services. As of Dec 31 2014, Co. had four segments: Consumer business, which is focused on creating location-based products; Automotive business, which provides modular components, being maps, traffic and navigation software, to car manufacturers and head unit vendors; Licensing business, which sells TomTom map, traffic and navigation software as well as cloud-based products and platforms; and Telematics business, which provides fleet management solutions for commercial fleets of any size.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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