TomTom’s Q2 publication was reassuring, beating the street on its Automotive business, but most noticeably on profitability. We expect a positive gross margin development in the coming quarter driven by a recovery in its activity as well as cost containment measures playing positively on the operating margin and FCF generation.
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Q2 20: on the road to recovery
TomTom’s Q2 publication was reassuring, beating the street on its Automotive business, but most noticeably on profitability. We expect a positive gross margin development in the coming quarter driven by a recovery in its activity as well as cost containment measures playing positively on the operating margin and FCF generation.