TomTom : Weak operational Automotive data for 3Q
>3Q IFRS results in line with consensus – operational Automotive big miss - TomTom results offer a mixed bag. IFRS revenues miss consensus by 1%, gross profit is in-line, OPEX 1% below consensus and as a result EBITDA beat by 5% (small numbers). Also the company mentioned they turned cash flow positive in 3Q. On the 3Q revenues on IFRS Automotive missed by 4%, Enterprise beat by 8% and Consumer was a miss of 5%. While we are truly excited by the momentum in Enterprise...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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