|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||10.90 - 10.90|
|52 Week Range||8.55 - 16.82|
|Beta (3Y Monthly)||1.45|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Dutch navigational-technologies company reported a net loss of 43.4 million euros ($47.8 million) for the quarter to Sept. 30 compared with a profit of EUR17.2 million in the year-earlier period.
As an investor its worth striving to ensure your overall portfolio beats the market average. But its virtually certain...
TomTom said on Tuesday its deals with carmakers are worth about 1.6 billion euros ($1.76 billion), as the Dutch navigation company aims to accelerate revenue growth and considers a share buyback program. Earlier this year, the Amsterdam-based company said it would focus on growing its digital maps business after it sold its fleet management business to Japan's Bridgestone for 910 million euros. Ahead of an investor day on Tuesday, TomTom said it expected to increase its revenue from location technologies, such as maps, by 10% each year until 2021, aiming to speed up that growth in the years after that.
"We had a good start of the year, winning the first two available HD map deals, which gives us an early position in this growth market," said CEO Harold Goddijn in a statement. TomTom in January agreed to sell its fleet management business to Japan's Bridgestone for 910 million euros, in order to concentrate on its digital map-linked businesses, which it has said it expects to grow by around 15 percent to 430 million euros in 2019. TomTom's prospects took a huge knock last year with the entry of Google's far-reaching supply deal with a group of carmakers including Renault, Nissan and Mitsubishi .
TomTom expects significant growth in its enterprise, or software, sales in 2019, the company said in an email on Wednesday, following publication of its fourth-quarter results. The company had forecast 15 percent combined revenue growth for 2019 from sales of digital mapping services to carmakers and software customers. Major software customers include Apple, which is building its own mapping system but still uses TomTom for coverage in most areas for Apple Maps, and Microsoft, which this week announced it was expanding its use of TomTom's maps in its Bing and Cortana products.
TomTom warned of weaker-than-expected growth in automotive revenue this year following the sale of its Telematics fleet management business, sending shares in the Dutch navigation company lower. Along with the loss of revenue from Telematics, the company faces a long-term decline in the sales of dashboard-mounted satnav devices. TomTom shares fell 6.3 percent to 7.37 euros in Amsterdam.
In such a scenario, data acquisition and its analytics become paramount, compelling businesses to invest heavily in mobility-related technology to make sure they stay relevant. In what can be seen as a definitive step towards bolstering its presence in the "mobility solutions" segment, Bridgestone Europe N.V., a subsidiary of Bridgestone Corporation in the Europe, Middle East and Africa (EMEA) region, has announced its acquisition of digital fleet solution leader TomTom's telematics business for €910 million (approximately $1.033 billion). To understand the strategic importance of this acquisition, one has to understand the telematics market and TomTom's position in it.
TomTom (TOM2.AS) will remain independent and grow its core digital maps business, its CEO said on Tuesday after the company agreed to sell its fleet management business to Japan's Bridgestone for 910 million euros ($1 billion). Amsterdam-based TomTom faces a turning point after Google (GOOGL.O) broke into the market to supply maps to carmakers last year, striking deals with Renault and Volvo and upsetting a duopoly between TomTom and its traditional larger rival HERE. "On the one hand (Google's entry) is scary, but on the other hand it really focuses the mind," said Harold Goddijn, TomTom's founder and CEO, in an interview with Reuters.
It increasingly looks like TomTom NV, once the king of satellite navigation devices, hasn’t decided on either route. Chief executive Harold Goddijn might be considering a third path. The Dutch company said on Tuesday that it would sell its telematics business – the stuff that brings together wireless tech, cars and sensors – to Bridgestone Corp., the world’s biggest tire-maker, for 910 million euros ($1 billion).
TomTom (TOM2.AS) can grow and thrive independently, its chief executive said on Tuesday after the Dutch navigation company announced the sale of its Telematics division representing about half of the company's market value. In an interview with Reuters, Harold Goddijn said that licensing cash flow for its digital mapping business was assured by "anchor customers" including Apple, and growing thanks to increasing use by developers of location-based software applications. "On the one hand that (Google's entry) is scary, but on the other hand it really focuses the mind," he said.
The sale is a big step in TomTom’s shift to location technology as customers ditch the personal navigation devices that made the company a household name in favor of smartphones. In September, the Dutch company said it was exploring a sale of Telematics, which delivers vehicle-related data and intelligence for fleet management and connected car services. Media reports also identified Verizon Communications Inc., Microsoft Corp., Daimler AG, and Michelin as possible bidders for the unit.