nogmaals lees dit als neutraal en binnen de aangepaste verwachting
2017 slap voor wpa verwachting, geen twijfel
ze under-reporten
first reaction from the market
" Licensing somewhat weaker than expected, Telematics and Automotive strong
Gross margin in line, EBITDA margin better than expected
OCF up significantly, net cash up
order intake Automotive 300 plus
this suggests further gains
with an average contract duration of 4 years , that is a runrate of at least 250 mio of new business on top of the longer running clients ( Fiat, Renault)
Testing with Tier1s and OEMs
cautious guidance for 2017 ( as usual ?)
Capex set to increase modestly over the EUR 119mio of FY16
Growth in Automotive and Telematic should lead to more operational leverage than the adusted EPS guidance calls for
maw under-reporting en voorzichtige outlook moeten ze kunnen verslaan, ik lees dit nogmaals niet als negatief
verder moet er gehakt gaan worden in de toko,
keep the pressure on en dan gaat t aandeel vanzelf beteren.
BUY imho, TT is a long-play.