TomTom improves profits on flat Q2 sales

Tuesday 19 July 2016 | 16:24 CET | News
TomTom reported flat sales and a strong improvement in profits for the second quarter. Revenues at the navigation device maker were unchanged year-on-year at EUR 265 million, as a 5 percent fall in the consumer market was offset by sold growth in the automotive and telematics markets. Net profit jumped to EUR 12.2 million from EUR 3 million a year ago. The gross margin rose to 55 percent from 51, and EBITDA rose to EUR 44 million from EUR 28 million. TomTom maintained its outlook for an increase in annual sales to EUR 1.05 billion and EPS of EUR 0.23.

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Categories: Mobile & Wireless
Companies: TomTom
Countries: World
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