@ VanillaSky, er zijn ook handelshuizen die het begrijpen
" profitability in FY16 and FY17 is estimated to be subdued, due to increased investments in the Automotive division.
TT is successful in its order wins, this results in higher up-front costs to facilitate growth. The beneficial effects from operational leverage due to higher investments should start coming through in 2017, rather than 2016
deferred revenue has a big impact on TT's numbers , TT receives payments for its maps and traffic upfront but as this includes updates part of the revenue is deferred.
TT's adj eps would be 35% higher if the def rev be booked upfront.
3Q16 TT will provide its run-rate order intake for the year.
mijn mening,
de toenemende overheads indiceert dus dat de order-intake op stoom komt.
verder de lage koers, schulden vrij, groeiend orderboek, ondergewaardeerde assets en een toenemende profit-pot ( def rev) maken TT kwetsbaar voor een overname of delisting.
elk handelshuis met een positie in TT weet dit.