*JustMe* schreef op 30 oktober 2022 11:06:
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TomTom spreekt wel degelijk over groei in Enterprise naast het fundament dat reeds is gelegd onder de Automotive lange termijn groei. Maar de eerste omzet uit die nieuwe producten is verwacht in tweede jaarhelft van 2023. Zie de onderstreepte stukjes. Ze willen dus op de CMD spreken over de nieuwe producten en initiatieven in Enterprise “and our growth”. Ik vermoed net als bij Indigo iets waar enkele jaren in stilte aan gewerkt is. Zie ‘stealth mode’ en ‘handful of potential customers’.
OCTOBER 14, 2022 / 11:00AM, TOM2.AS - Q3 2022 TomTom NV Earnings Call
During the third quarter, we finalized the realignment of our Maps organization. And our focus on transforming the mapmaking process to a highly-automated platform paves the way towards a new era in mapmaking. And this means that we will be able to deliver a significantly better product that will open up new markets and new use cases. We are able to offer a better map, while becoming more efficient at producing it.
And we expect our maps to improve along 3 axes.
We will have better coverage, especially outside Europe and North America. We will add more and richer attributes to our maps, and a more dynamic update mechanism will result in both fresher and more accurate maps. As a result, the addressable market will expand significantly, it will open up more geographies, and we can serve a much broader set of use cases.
We look forward to providing you an update about the implications for our competitive position
and our growth at our Capital Markets Day on the 2nd of November. And with that, I hand over to Taco.
Marc Hesselink - ING Groep N.V., Research Division - Research Analyst
Okay. Then the second question is actually the Maps realignment. Do you see any commercial impact on that? You see, okay, we can now provide
a better product to the clients, that you also have that kind of discussions which are -- with maybe new potential clients to move them to TomTom.
Harold C. A. Goddijn - TomTom N.V. - Co-Founder, Chairman of the Management Board & CEO
Yes, Marc,
so we have not launched the products that are resulting from our new mapping platform, so you won't see any revenue and you won't see that this year in real terms. But there is an exciting development in our mapping platform. We will be able to produce significantly more detailed maps. We will have a lot more coverage with our maps, so we can expand our base -- our business. And we can start addressing a market that has not been available to us in the past, and that involves markets where we are traditionally not very strong. So that's everything outside of North America and Europe. All of a sudden, that opens up new possibilities.
And the second way we can expand our addressable market is by addressing use cases that are -- that we currently cannot serve. Due to the high- precision type of attributes, that we're bringing into our new map platform, will allow us to play in consumer applications, display applications, more web-based, mobile phone-based applications, where we currently don't have a big presence.
So, if you look at our current customer base, of course, we're doing well in Automotive. And
we have seen a lot of activity this year in the Automotive segment, which is very encouraging -- will lay a foundation under longer-term growth also in the Automotive industry. But on top of that, we can start developing a whole new segment in what we have defined as the Enterprise sector, where we currently don't have a strong position.
And that's all very -- I think that's all very exciting. We're preparing for that.
We'll be ready by the end of this year, have everything in place to start selling and licensing those products, and we will start informing the market in Q4 about those developments that are taking place.Marc Hesselink - ING Groep N.V., Research Division - Research Analyst
Okay. How should I see that sales process? Is that something that the market is very aware that you have that product or is that something that
you really have to push and make it visible?
Harold C. A. Goddijn - TomTom N.V. - Co-Founder, Chairman of the Management Board & CEO
Well, it's a bit of both. So
at the moment, it's all under wraps, we're in stealth mode. We talked to a handful of selected target customers, but then we will, of course, go broad.
We have prepared our sales capabilities in the anticipation of that to happen. And then you will see, yes, revenue coming from that -- from those new activities in '23, be it -- albeit at a modest scale. The sales cycles are typically not that short. It typically takes between 3 and 6 months. And then after that, depending on the use case, a bit of a ramp-up period before you go mainstream and you go high volume. But definitely, in '23, we will start seeing the outline of growth potential for the medium term.