TomTom sales shrink 9% in 2013

Satnav maker TomTom on Tuesday said both net profit and turnover had fallen in the fourth quarter of 2013, as slow car sales had an impact on built-in system sales.

Net profit fell from €99m in the final quarter of 2012 to just €3m, the company said. This was largely due to a tax windfall of €80m in 2012.

Turnover fell from €289m to €268m, a drop of 7%. Full year net profit reached €20m, compared with €129m in 2012. Total group sales fell 9% to €963m and the company is forecasting a further drop to €900m this year.

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