Amsterdam, The Netherlands, 24 September 2019 TomTom (TOM2) holds its Capital Markets Day in Amsterdam today, with presentations by Chief Executive Officer Harold Goddijn, Chief Financial Officer Taco Titulaer as well as other senior executives. They will discuss the company's strategy within the context of the growth opportunities and developments in the market and core technologies.
Harold Goddijn, TomTom's CEO, comments, "We work with a vast array of leading technology and automotive companies, placing us at the center of location information sharing. This ecosystem provides increased visibility on future revenues, due to multi-year design-ins. We see great opportunities in connected driver navigation, autonomous driving and Maps APIs, where location-based applications are key components, and in turn, deliver value to all our stakeholders."
"We are introducing Automotive backlog as a new KPI, with the aim of giving better visibility on our Automotive revenue. Our Automotive backlog is currently around 1.6 billion, which represents the sum of the expected IFRS revenue from all existing awarded Automotive deals", adds Taco Titulaer, TomTom's CFO. "As a medium-term guidance, we expect our Location Technology business, comprised of Automotive and Enterprise, to grow its revenue with a CAGR of around 10% for the period between 2018 and 2021. It is our ambition to accelerate revenue growth beyond 2021. Furthermore, we will reassess our optimal cash position next year, which could result, amongst other things, into a share buyback program."