Sees FY revenue at lower end of guidance range (Il Sole 24 Ore Radiocor) - Amsterdam, 15 Jul - The Dutch digital mapping company TomTom said that in the second quarter of 2024 revenue fell 3% to 152 million euros, while its net loss narrowed to 2.3 million euros from 4.5 million a year earlier.

The free cash flow was a negative 5 million euros against an inflow of 3 million in the second quarter of 2023.

The net cash position slipped to 258 million euros at the end of June from 315 million at the end of 2023.

"Long-term automotive industry trends continue to support a deeper integration of our technologies into the vehicle over time. However, a combination of downward revisions for near-term car production volumes and delays in new model introductions has resulted in a generally less predictable market environment. In light of these developments, we now expect our full-year revenues to come in at the lower end of our guidance," said the CEO, Harold Goddijn.

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(RADIOCOR) 15-07-24 12:25:01 (0283) 5 NNNN