TomTom released a strong set of results for Q3 20, driven by a rebound in both Automotive and Consumer. The company also posted a profitability upbeat on the back of good cost control. The only disappointment, but manageable, was seen at the FCF level. Still, we keep a positive view on the stock which should benefit from cash generation reversal from Q4 onwards.
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Q3 20: sharp rebound in Q3
TomTom released a strong set of results for Q3 20, driven by a rebound in both Automotive and Consumer. The company also posted a profitability upbeat on the back of good cost control. The only disappointment, but manageable, was seen at the FCF level. Still, we keep a positive view on the stock which should benefit from cash generation reversal from Q4 onwards.