First quarter 2021 results press release

Location Technology delivers 15% year-on-year revenue growth

TOMTOM’S CHIEF EXECUTIVE OFFICER, HAROLD GODDIJN
“We had a positive start to the year, showing solid progress in product development and attracting new customers.
The release of TomTom Navigation for Automotive, our cloud-native hybrid solution, further strengthens our leading position as a Location Technology specialist. It is the most comprehensive navigation system available to automakers today.
In Enterprise we expanded our customer base in the fleet and logistics and on-demand markets.”

OPERATIONAL SUMMARY

FINANCIAL SUMMARY FIRST QUARTER 2021

• Group revenue of €131 million (Q1 ’20: €131 million)
• Location Technology revenue increased by 15% to €105 million (Q1 ’20: €91 million)
• Automotive operational revenue decreased by 8% to €74 million (Q1 ’20: €81 million)
• Free cash flow is an outflow of €4 million (Q1 ’20: inflow of €14 million)
• Net cash is €352 million (Q4 ’20: €372 million)

KEY FIGURES

TOMTOM’S CHIEF FINANCIAL OFFICER, TACO TITULAER
“Growth in both Automotive and Enterprise contributed to a year-on-year increase of 15% in Location Technology revenue.
Our operating result improved compared with last year as a result of higher gross margin and lower operating expenses. The latter is mainly explained by lower acquisition-related amortization and cautious cost management.
During the quarter, we resumed our share buyback, purchasing over 2 million shares for €17 million.
We are reiterating our full-year guidance with the expectation that revenue will be more weighted to the second half of the year given the supply chain constraints within the automotive industry.”