TomTom targets location technology sales of 600 mln euros in 2025
Nov 2 (Reuters) - Dutch navigation and digital mapping company TomTom (TOM2.AS) on Wednesday said it expected its location technology revenue to reach 600 million euros ($593 million) in 2025, driven by its new maps platform.
"We are excited about the opportunities the Maps Platform brings for our customers and partners and we expect to roll it out in the second quarter of 2023," CEO Harold Goddijn said in a statement ahead of TomTom's Capital Markets Day.
TomTom, whose customers range from major car companies to leading global tech firms, last month cut its 2023 cash flow target on inflationary pressures and economic uncertainty, but maintained its revenue forecast.
($1 = 1.0120 euros)
Reporting by Federica Mileo and Augustin Turpin in Gdansk; editing by Milla Nissi
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