TMOAF - Tomtom's Q1 losses narrowed significantly driven by growth in the core location-technology division

Tomtom NV ([[TMOAF]] +6.8%) reported Q1 revenue of €131M (flat Y/Y).Segment revenue: Automotive €63M (+26% Y/Y); Automotive operational revenue decreased by 8% to €74M, as production volumes decreased Y/Y; Enterprise €42M (+2% Y/Y), reflecting increased revenue from existing customers; Consumer revenue decreased Y/Y by 34% to €26M, negatively impacted by governmental COVID-19 measures such as travel limitations and retail closures.Q1 Overall margins: Gross improved by 300 bps to 81%; EBITDA margin improved to 6% vs. -4% a year ago.Operating result in the quarter improved Y/Y to a loss of €14M compared with a loss of €78M in Q1 '20.Cash and cash equivalents of €230.66M as of March 31, 2021, compared to €231.52M as of December 31, 2020.Company has deferred revenue of €397.9M as of March 31, 2021, compared to €403.7M as of December 31, 2020.FY21 Outlook: Revenue to be between €520M-570M from €528M earlier; Location Technology revenue to be between €420M-450M from €392M earlier.Previously

For further details see:

Tomtom's Q1 losses narrowed significantly, driven by growth in the core location-technology division