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TomTom profit rises thanks to windfall

Tuesday 12 February 2013

Satellite navigation system-maker TomTom saw a rise in profit to €99m in the fourth quarter thanks in part to a one-off tax windfall. This is an increase of €87m on the year-earlier period.

However, turnover fell nearly 20% to €289m.

TomTom is selling fewer of its separate navigation boxes because people are increasingly using mobile telephones to find their way.

Profit over the whole of 2012 was €129m, compared with a loss in 2011 of €438m. Turnover for the year fell 17% to €lbn.

The total market for satnav systems fell from 3.2 million units to 2.5 million units in 2012. TomTom expects sales to slide again this year, to between €900m and €950m.

‘The year ahead will be a pivotal year as new products start to reach our customers. R&D investments will continue to shift to new technologies... to increase returns,’ chief executive Harold Goddijn said in a statement.

 

© DutchNews.nl



 

Readers' Comments

Hi,
TomTom profit rises thanks to windfall. Supplying driving data collected from customers to police to use in catching speeding motorists may be the reason?

By Terence Hale | 12 February 2013 11:09 AM

TOMTOM had the opportunity to be part of tablet revolution with a little bit of vision. Having none of it, they recently understand that people can live without a personal navigation device. It will be hard to maintain so many jobs only with application development and fleet management.

By Utku Tekinel | 12 February 2013 11:52 AM

I find the TomTom interface for navigation to be far and away superior to any other system I've used. Relying on a mobile and network connection to safely navigate is fraught with problems, it's better to have the maps installed locally.

Sadly, though, TomTom didn't bother porting to Android many years ago, and only ported to the Iphone, they lost the market share with that decision.

By H. | 12 February 2013 6:22 PM

 
 
 
 
 
 
 
 
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