TomTom’s Chief Executive Officer, Harold Goddijn:

“Since we communicated that we would be taking a more modular approach to our products, selling map content, navigation software and HD Traffic as standalone solutions, we have signed a number of deals, especially in the automotive sector.

Although the revenue impact of these deals will not become visible immediately they are forming the foundation for the future growth of the business. In addition they provide us with a clear indication that this strategy for unlocking more of the value of our core assets is resonating with customers.

At the same time the state of the economy remains a challenging factor. We reduced our cost base in line with previously announced plans and we are focused on execution and fully realising the benefits of our new product unit structure.

We maintain our guidance for 2012 to deliver revenue of around €1.1 billion and adjusted earnings per share of around €0.35.”