(RTTNews) - TomTom (TMOAF.PK) reported a fourth quarter net loss of 38.8 million euros compared to a loss of 65.9 million euros, prior year. Loss per share was 0.31 euros compared to a loss of 0.51 euros.
Fourth quarter Group revenue decreased by 8% to 115 million euros from 125 million euros, prior year. Location Technology revenue decreased by 11%, while Automotive operational revenue was down 17%.
"In Automotive, we expect ongoing supply chain constraints during 2022, which will ease in 2023. We expect that our investments during 2022 will result in operational efficiencies. These, combined with revenue growth, are expected to lead to positive free cash flows in 2023 and onwards," said TOMTOM'S CEO, Harold Goddijn.
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