TomTom expects 220 million in new orders

Netherlands-based satellite navigation system producer TomTom expects to 220 million euros in orders from the automotive industry this year, matching 2014 figures. The Dutch firm could even exceed their projection, the company’s CEO Harold Goddijn said Friday during a shareholder meeting.

Automotive revenue growth is more likely in 2016, Goddijn said, according to Z24. He cited quarterly figures released on Tuesday as a sign of the expected order increase in the coming years.

He also suggested that individual consumer markets remain fairly intact, AFN wrote. The decline in the automotive industry that took place in the first quarter was included in the calculations, he added.