TomTom : Weak first quarter – FY24 outlook reiterated
>Sales and gross profit missed consensus by 3% - TomTom had a weak start of the year. Sales was down 1% yoy and missed consensus expectations by 3%. When corrected for deferred Automotive revenues sales even missed consensus by 6%. Gross profits were flat yoy and missed expectations by 3% as well. OPEX were broadly flat QoQ and in line with consensus expectations. As a result EBITDA came in at €4mln, which is about half of what consensus was looking for. On the commer...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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