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CNA
15-07-2025
- Automotive
- CNA
TomTom lifts floor of 2025 guidance as automotive business drives Q2 beat
Dutch digital mapping specialist TomTom lifted the bottom end of its 2025 revenue guidance on Tuesday, after a better than expected performance in its core automotive business helped it beat market estimates in the second quarter. The location data pioneer, which started by providing a navigational tool for turn-by-turn directions, has gone through major restructuring and is now developing high-definition self-driving maps that integrate consumer data and advanced driver assistance systems. Its revenue fell 4 per cent to 146.2 million euros ($170.8 million) in the second quarter, but beat the 145 million analysts had expected on average, aided by a smaller than expected drop in the automotive location technology business. "The resilience of our customers is to thank for a relatively okay result for this quarter," CEO Harold Goddijn told Reuters. TomTom's shares spiked as much as 10.9 per cent in early trading and were up 2.3 per cent by 0730 GMT. Goddijn said the group had managed to reduce its cycle time — the time it takes between signing a contract and starting to deliver the products — by standardizing its product portfolio. In late June, TomTom said it would cut 300 jobs as part of an organizational realignment, including wider use of artificial intelligence in its processes, as it implements a new product-led strategy. It had around 3,600 employees at the end of 2024. "It will take a couple of months before we start seeing the results filtering through in the profit and loss account, but in 2026, most of the effects will be fully realized," Goddijn said. He said TomTom was using or working to implement AI in its map-making process, programming and AI-based solutions it was developing. It forecast annual revenue of 535-565 million euros, after previously projecting the lower end of the range at 505 million. Revenue in the location technology arm should reach 465-490 million euros, it said, raising the bottom end by 25 million.
CNA
15-07-2025
- Automotive
- CNA
TomTom lifts floor of 2025 guidance as automotive sales drive Q2 beat
Dutch digital mapping specialist TomTom lifted the bottom end of its 2025 revenue guidance on Tuesday, after a better than expected performance in its core automotive business helped it beat market estimates in the second quarter. The location data pioneer, which started by providing a navigational tool for turn-by-turn directions, has gone through major restructuring and is now developing high-definition self-driving maps that integrate consumer data and advanced driver assistance systems. The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) this year, compared with the previous forecast of 505-565 million euros. TomTom's revenue fell 4 per cent to 146.2 million euros in the second quarter, but beat the 145 million euros analysts had expected in a company-provided consensus, aided by a smaller than expected drop in the automotive location technology business. CEO Harold Goddijn said in a statement the automotive business continued to battle industry uncertainties in the quarter, while underlying growth in location tech for enterprises was more than offset by unfavourable exchange rate movements. "We remain confident about our market position," he added, however. "In the second quarter, our maps were selected to support complex field service operations, optimize logistics, improve infrastructure investments, and more." The group expects its location technology revenue, which includes the automotive and enterprise businesses, to be in a 465-490 million euro range in 2025, versus an earlier forecast of 440-490 million euros. It sees a free cash flow at around 5 per cent of the group revenue, after previously guiding it at break-even.
CNA
15-07-2025
- Automotive
- CNA
TomTom lifts floor of 2025 guidance after positive half-year results
Dutch digital mapping specialist TomTom lifted the bottom end of its full-year revenue guidance range on Tuesday, saying its results in the first half of 2025 were better than it had initially expected despite market headwinds. The Amsterdam-based company expects its revenue to come between 535 million and 565 million euros ($624.72 million and $659.75 million) in 2025, compared with the previous forecast of 505-565 million euros. It posted a group revenue of 146.2 million euros in the second quarter, above the 145 million euros expected on average in a company-provided consensus, aided by better than expected results in its automotive business. "We remain confident about our market position. In the second quarter, our maps were selected to support complex field service operations, optimize logistics, improve infrastructure investments, and more," CEO and co-founder Harold Goddijn said in a press statement.
Daily Telegraph
30-06-2025
- Automotive
- Daily Telegraph
‘Embracing AI': Dutch tech company TomTom cuts 300 jobs
Don't miss out on the headlines from Online. Followed categories will be added to My News. Dutch car navigation firm TomTom announced on Monday that it was cutting 300 jobs, approximately 10 per cent of its workforce, to stem financial losses and 'embrace artificial intelligence'. The Amsterdam-based company was an early pioneer of digital navigation in cars but has struggled in the age of Apple and Google Maps. This week, TomTom announced in a statement that it was 'realigning its organisation … as it embraces artificial intelligence', resulting in 'organisational changes'. TomTom has announced job cuts. (stock image) These changes would affect 'certain roles in the units working on our application layer and in our sales and support functions, resulting in a reduction of 300 roles,' the firm said. The company employs around 3,600 people worldwide. TomTom forecasts a drop in sales from 574 million euros (AU$1.029 billion) in 2024 to 505-565 million this year. Chief executive Harold Goddijn told investors in April that trade tensions resulting from US President Donald Trump's tariffs made the short-term outlook for the firm 'less predictable'. However, he said that he remained 'confident in our long-term trajectory'. It comes as AI is forecast to decimate the global workforce by 2050, according to reports from organisations such as PwC, McKinsey, and the World Economic Forum. Estimates suggest up to 60 per cent of all current jobs will require significant adaptation due to AI. Experts warn that AI could significantly impact jobs globally, with roles in administration and call centres being particularly vulnerable. Picture: AFP Already in Australia, some workplaces are feeling the impact of AI-adoption. In May, shared the story of a Sydney medical receptionist who described the dreaded moment AI replaced her and others on her team. Four staff were told emails would be automatically filed into separate mailboxes, and patients would be greeted with a generic computer-generated message, saying, 'thanks so much, we'll get back to you shortly'. Niusha Shafiabady, an associate professor in Charles Darwin University's Faculty of Science and Technology warned earlier this year, 'Jobs that rely on humans following pre-existing instructions and don't need many or any analytical thinking skills will be impacted relatively quickly.' 'I'm talking about clerical or secretary roles, and jobs in administration, for example,' she said. Professor Shafiabady said that after identifying six of the most at-risk roles in Australia, she found that they all fell within the administrative realm. Call centre workers were near the top of the list, she said. 'The tasks for this type of job can be replicated by an AI computer system, so it will be displaced,' she said. Advanced technologies are increasingly capable of carrying out tasks traditionally done by humans, leading to potential job displacement in numerous sectors. Picture: AP Also at risk are those working as secretaries and foreign language interpreters, as advanced technologies can replicate many of these functions. Even secretaries working in healthcare, such as a GP clinic receptionist, could be 'relatively easily replaced'. 'A bookkeeper's job could also be displaced relatively quickly, since the information flow can be captured by software systems,' she said. 'At the very least, the number of required positions for this role are likely to decrease.' And those Australians whose job requires them to enter data into a computer system should brace for an imminent disruption, she said. As demonstrated in a viral video last week, those taking orders at chain restaurants in Australia could become obsolete relatively quickly, as the existing technology has proven to be effective. Originally published as 'Embracing AI': Dutch tech company TomTom cuts 300 jobs
Time of India
30-06-2025
- Business
- Time of India
TomTom to cut 300 jobs: Read what the company said
TomTom, the Dutch navigation company has announced that it is planning to layoff around 300 employees. The company revealed that the fresh round of layoffs are part of a restructuring efforts and with this the company will now focus on product-led strategy powered by artificial intelligence. The layoffs roughly affecting 8% of the global workforce will majorly impact the application layer as well as sales and support functions. TomTom layoffs: Here's what the company said The company claims that the layoffs are part of a broader shift which aims at streamlining operations, enhancing scalability and accelerating product delivery with the help of AI-integrated solutions. 'With a modernized technology stack, we are becoming a truly product-led company,' said CEO Harold Goddijn. 'This shift enhances the end-user experience and shortens implementation cycles for our customers, accelerating our time-to-value' TomTom has already started investing in technology platforms which includes a complete revamp of its mapmaking system and launch of Orbis Maps which offers more granular and up-to-date data. The company is following a new approach which includes reusable software components and a focus on integrated-friendly products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The company also announced that it will support the affected employees during this transition. The decision to reduce the workforce comes during a time when TomTom is facing declining demand for standalone navigation devices, with its core business now centered on providing mapping technology to automakers and smartphone manufacturers like Apple, Volkswagen, and Huawei. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
