Dutch navigation and digital mapping firm TomTom stated on Friday it anticipated extra provide chain constraints in 2022, because it reported a bigger-than-expected quarterly core loss.
The Amsterdam-based agency stated provide chain shortages would persist all year long earlier than easing in 2023.
TomTom, whose clients embrace Volkswagen and Microsoft, has been hit by semiconductor provide chain points, which have compelled carmakers across the globe to slash manufacturing.
The corporate guided for a full-year income of between 470 million to 510 million euros in 2022, under analysts’ expectations of 541 million euros.
Nevertheless, 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.
Income and web outcomes additionally failed to fulfill analyst expectations.
The variety of new automobiles registered within the European Union, Britain and the European Free Commerce Affiliation (EFTA) in December was down 21.7% year-on-year, marking the sixth month in a row of declines, trade information confirmed in January.
FbTwitterLinkedin
