THE HAGUE: TomTom, the navigational device and mapping product, saw its 2015 revenue grow to 1.0 billion euros (1.13 billion U.S. dollars), a growth of 6.0 percent compared to 2014, the Dutch company announced on Tuesday.
However, the company’s 2015 full year net profit shrank by 19 percent to 18.3 million euros.
From a regional perspective, 77 percent of the full year revenue of 2015 was generated in Europe, 18 percent in North America and the remaining 5 percent in the rest of the world.
“We delivered top-line growth in 2015 for the first time in five years. The weakening of the euro in combination with higher investments in our core technologies affected our profitability negatively in 2015,” said CEO Harold Goddijn.
Goddijn forecast a sales growth of 4.4 percent for 2016 and was confident TomTom was well positioned to capture growing opportunities in the area of autonomous driving, connected car, fleet management services and consumer wearables.
Founded in 1991, TomTom is best known for providing GPS technology for both stand-alone units and software for personal digital assistants and mobile telephones. Apart from navigation and mapping products, TomTom creates GPS sports watches, fleet management solutions and location-based products.
