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    TOM2   NL0013332471

TOMTOM NV

(TOM2)
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Real-time Quote. Real-time Euronext Amsterdam - 01/27 11:35:26 am
8.49 EUR   -0.99%
01/10TOMTOM NV : Nomination
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01/04Consumer Stocks Edge Higher Premarket Tuesday
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01/04Amazon Music Launches on TomTom IndiGO
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TomTom shares rise 9% after European Union decision

11/17/2021 | 12:20pm EST

AMSTERDAM, Nov 17 (Reuters) - Shares in Dutch navigation and mapping company TomTom closed 9.3% higher on Wednesday, after the European Union published rules specifying that cars must incorporate a technology that the company supplies, starting in 2022.

TomTom works with carmakers to provide the technology that helps drivers comply with speed limits, called "intelligent speed assistance."

The publication in the Official Journal of the European Union https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2021:409:TOC specified that new car models must use the technology starting in July 2022, and all cars sold must have it by 2024.

Chief Executive Harold Goddijn was scheduled to meet with investors at a conference during the day, though it was not clear whether he discussed potential financial benefits to the company.

A spokesperson for TomTom could not immediately comment.

Sebastian Marland, an equity research analyst at AFS Group, said he believed the news was the trigger for the stock's surge.

"This creates a momentary opportunity for TomTom as it provides the tech required to 'add-on' to the cars," he said.

However, "from 2024 onwards, all cars in the EU must have it installed, making TomTom's tech redundant in the long term."

Shares closed at 7.92 euros in Amsterdam.

(Reporting by Danilo Masoni and Toby Sterling in Amsterdam Editing by Matthew Lewis)


ę Reuters 2021
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Analyst Recommendations on TOMTOM NV
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Financials
Sales 2021 513 M 571 M 571 M
Net income 2021 -71,7 M -79,9 M -79,9 M
Net cash 2021 287 M 319 M 319 M
P/E ratio 2021 -16,0x
Yield 2021 -
Capitalization 1 088 M 1 228 M 1 212 M
EV / Sales 2021 1,56x
EV / Sales 2022 1,39x
Nbr of Employees 4 477
Free-Float 46,0%
Chart TOMTOM NV
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TomTom NV Technical Analysis Chart | TOM2 | NL0013332471 | MarketScreener
Technical analysis trends TOMTOM NV
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 8,58 €
Average target price 8,91 €
Spread / Average Target 3,89%
EPS Revisions
Managers and Directors
Harold Goddijn Chief Executive Officer
Taco Titulaer Chief Financial Officer
Derk Johan Haank Chairman-Supervisory Board
Charles W. Davies Group Chief Technology Officer
Jacqueline A. Tammenoms Bakker Deputy Chairman-Supervisory Board
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