Q1 2023 Results
Harold Goddijn - CEO
Taco Titulaer - CFO
14 April 2023
Operational highlights for the quarter
- Momentum in our Location Technology business, with a deepened partnership with SAP and our Navigation SDK gaining traction in Enterprise markets
- Robust growth of the installed base for our automated driving solutions, which doubled in a year and outperformed the market
- On track for a phased launch of the TomTom Maps Platform, which will bring new maps and significant value to customers and partners
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Financial highlights for the quarter
- Group revenue of €141m (up from €128m in Q1 '22)
- Location Technology revenue of €118m (up from €105m in Q1 '22)
- Automotive operational revenue of €84m (up from €68m in Q1 '22)
- Free cash flow1 of €10m (improved from an outflow of €23m in Q1 '22)
- Net cash of €321m (up from €304m at the end of Q4 '22)
1 Free cash flow excludes restructuring charges related to the Maps realignment announced in June 2022
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Outlook 2023
Outlook | Actual | |
in € million | 2023 | 2022 |
Group revenue | 540 - 580 | 536 |
Location Technology | 455 - 485 | 436 |
revenue | ||
FCF1 as % of Group | 0% - +5% | -5% |
revenue | ||
1 Free cash flow excludes restructuring charges related to the Maps realignment announced in June 2022.
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TomTom NV published this content on 14 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2023 12:05:09 UTC.