TomTom's second-quarter sales slump as pandemic hits car business
July 15 (Reuters) - Dutch navigation and digital mapping company TomTom TOM2.AS on Wednesday posted a 41% drop in second-quarter sales as shop closures and travel reductions saw a serious decline in its consumer business, which sells portable navigation devices for cars.
The Amsterdam-based company, whose clients range from carmakers Ford F.N and Nissan 7201.T to tech firms Microsoft MSFT.O and Huawei HWT.UL, reported sales of 123.7 million euros ($140.94 million), in line with expectations.
The group did not provide a detailed outlook, but said it expected to generate positive free cash flow in the second
half of the year.
In April, TomTom had forecast a negative free cash flow and lower revenues in its automotive and consumer businesses in 2020.
($1 = 0.8777 euros)
(Reporting by Sarah Morland and Anait Miridzhanian in Gdansk Editing by Shri Navaratnam)
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