TomTom reports Q1 profits up 42%

Car satellite navigation systems maker TomTom booked a 42% increase in net profit and 16% growth in sales in the first three months of this year, compared with the year earlier period.

Earnings reached €44m, while turnover totalled €296m. However, the average price of a satnav system has fallen from €230 to €204, TomTom said.
Sales are traditionally down in the first few months of the year – the most popular time to buy satnav systems is before the summer break and during the Christmas holidays.
The company repeated full-year forecast of turnover reaching between €1.6bn and €1.8bn.

Thank you for donating to

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation