TomTom N.V.

Latest Results (16.10.2025):

TomTom N.V. reported solid financial performance in the fourth quarter and full year of 2023, showcasing revenue growth across key segments and significant improvements in cash flow. The company strengthened its position with a record automotive backlog and made strategic advancements in location technology and partnerships, setting a positive outlook for 2024.

Revenue Growth

In the fourth quarter of 2023, TomTom reported a 3% increase in group revenue to €143 million, up from €139 million in Q4 2022. For the full year, group revenue rose by 9% to €585 million compared to €536 million in 2022.

Location Technology Performance

Location Technology revenue saw a significant uptick, increasing by 7% to €125 million in Q4 2023 and by 12% for the full year to €491 million. This growth underscores the rising demand for TomTom's advanced mapping and location solutions.

Automotive Backlog

The automotive segment achieved a record backlog of €2.5 billion, driven by robust order intake. Operational revenue in this segment grew by 1% to €83 million in Q4 and by 16% to €343 million for the full year, highlighting sustained demand from automotive partners.

Improved Cash Flow

TomTom reported a positive free cash flow of €5 million in Q4 2023, a significant turnaround from an outflow of €15 million in the previous year. For the full year, free cash flow improved to an inflow of €32 million, reflecting enhanced financial management and operational efficiency.

Strategic Partnerships and Initiatives

The company collaborated with Microsoft to develop an AI-based conversational assistant for vehicles and secured a new contract with Bridgestone Mobility Solutions to power their fleet management software. Additionally, TomTom initiated a €50 million share buyback program to reduce share capital.

Outlook for 2024

TomTom remains cautiously optimistic for 2024, expecting continued growth in Location Technology revenue and enhanced free cash flow. The company anticipates increased conversions from its substantial sales funnel for TomTom Orbis Maps and aims to sustain revenue growth and profitability through strategic initiatives and a strong business model.