Satnav maker TomTom on Tuesday announced a loss of €6.9m in the first quarter of 2015.

Profit margins were affected by the high value dollar in which the company pays for most of its components.

Operating profit fell from €30m to €21m, the company said. Turnover remained stable at €205m, although analysts were predicting slight growth.

Turnover has been falling since 2010 as slow car sales have an impact, but the Amsterdam-based company expects an increase over 2015 as a whole from new products such as sport watches and security products for lorry parks.