By Anthony O. Goriainoff
TomTom NV stated Thursday that its third quarter internet loss narrowed, and that it was decreasing its free cashflow steerage for the 12 months attributable to supply-chain points.
The Dutch navigational-technologies firm stated that though it backed its income steerage, car-production volumes can be affected attributable to these points, and that can have a direct impact on operational income and on its money circulation.
The corporate stated free cashflow as a share of income was being lowered to round 2% from a earlier 5%.
TomTom posted a internet lack of 20.8 million euros ($24.1 million) in contrast with a internet lack of EUR67.0 million euros for the third quarter of 2020, whereas income fell to EUR127.5 million from EUR147.9 million.
The corporate guided for 2021 income within the EUR500 million to EUR530 million vary.
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