TomTom improves operating results despite difficult consumer market

Navigation company TomTom saw its turnover decrease to 83 million euro on the consumer market in Q3 of 2018. Despite worrying analysts, these losses were compensated through profits in automotive and enterprise, where turnover increased from 81 million to 93 million euro. Telematics showed a slight growth as well. When looking at these numbers, it can be concluded that financial numbers in total remained at the same level as last year, with a total turnover of 219 million euro. The EBITDA even highly increased to 62 million euro. The total profit was 17 million, compared to a loss of 1,2 million last year.

Recently, investors and analysts feared for the viability of TomTom after the news that three large car manufacturers (Mitsubishi, Nissan, and Renault) had signed a deal with Google to use the Android system in their navigation and entertainment systems.