TomTom sees more supply chain constraints in 2022, misses Q4 estimates


(Reuters) -Dutch navigation and digital mapping firm TomTom stated on Friday it anticipated more supply chain constraints in 2022, because it reported a bigger-than-expected quarterly core loss.

The Amsterdam-based agency stated supply chain shortages would persist all year long earlier than easing in 2023.

TomTom, whose prospects embody Volkswagen and Microsoft, has been hit by semiconductor supply chain points, which have pressured carmakers across the globe to slash manufacturing.

The firm guided for a full-year income of between 470 million to 510 million euros in 2022, beneath analysts’ expectations of 541 million euros.

However, TomTom stated it anticipated its income to be between 500 million and 550 million euros in 2023, because it noticed continued will increase in automotive operational income.

The agency reported a fourth-quarter loss earlier than curiosity, taxes, depreciation and amortisation of 19.2 million euros ($22 million), far greater than the 7-million-euro loss analysts had forecast.

Revenue and web outcomes additionally failed to fulfill analyst expectations.

The variety of new autos registered in the European Union, Britain and the European Free Trade Association (EFTA) in December was down 21.7% year-on-year, marking the sixth month in a row of declines, business knowledge confirmed in January.

($1 = 0.8726 euros)

(Reporting by Anait Miridzhanian; Editing by Kim Coghill and Shailesh Kuber)

Source link