TomTom’s Revenues Reach One Billion in 2015
TomTom’s latest financial summary have shown that the Company’s revenues reached €1,007m in 2015, up from €950m the year before, while its automotive revenues exceeded €300m.
The company’s results also trumpeted its multi-year agreement with Uber to provide worldwide maps and traffic data, that its new map-making platform is live and that it shipped more than 600,000 GPS sport watches during the year.
TomTom’s CEO Harold Goddijn commented that the company “delivered top-line growth in 2015, for the first time in five years. The weakening of the euro in combination with higher investments in our core technologies affected profitability negatively in 2015. The net result for 2015 was €18 million.
“Consumer continued to make further inroads in establishing a multi-product consumer business with GPS sport watches and action cameras. Automotive broke the 2014 record of new bookings, Licensing delivered strong growth through existing and new customers and Telematics saw continued strong growth in installed base and recurring revenue.”
He added that the company “made substantial progress with our core technologies across the group,” and completed the move to a new map-making platform this year which he said is the first of its kind in the industry and a “leap forward in map-making technologies”, integrating the NDS map format into TomTom’s navigation software on device-based and server-based applications.
“We continued to increase our market share in traffic, increasing our global coverage and enhancing our traffic services,” he continued, “our skills and expertise in location data and technologies give us confidence that TomTom is well positioned to capture on growing opportunities in the area of Autonomous Driving, Connected Car, Fleet Management services and Consumer Wearables.”
The company adds that, in 2016, it plans for revenue to grow to around €1,050 million and to increase its level of investment, particularly in advanced content and software for the automotive industry, for example to enable autonomous driving.