TomTom reports USD51.2 million net income in FY2018 despite lower sales

Automotive and Enterprise segment revenue grow by 12% y/y

TomTom has reported net income or EUR44.8 million (USD51.2million) for the financial year ended 31 December 2018 compared to net loss of EUR194.4 million for the previous financial year, the Netherlands-based mapping and location services provider said in a press release on 6 February. TomTom recorded operating income of EUR55.5 million against operating loss of EUR186 million in 2017. The company returned to profitability in 2018 despite witnessing 5% year-over-year (y/y) drop in total revenue to EUR860.6 million.

Thank you for visiting IHS Automotive Supplierinsight.

*A subscription to News & Analysis includes four IHS Markit-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Services. Please click here to subscribe.

For a free daily listing of headlines with limited access please sign up here.

To get access to the SupplierInsight full suite of services, please contact a sales representative by clicking here.

Already a subscriber? Please log in here

Related Assets