TomTom Reports Second Quarter 2017 Results

Consolidated condensed statements of cash flows

(€ in thousands)	Q2 '17 Unaudited	Q2 '16 Unaudited	H1 '17 Unaudited	H1 '16 Unaudited

Operating result	-159,501	12,752	-164,354	8,439
Financial (losses) / gains	-1,519	-553	397	401
Depreciation, amortisation and impairment	204,742	30,941	237,550	60,811
Change in provisions	-2,969	4,805	-8,270	1,588
Equity-settled stock compensation expenses	2,635	987	4,402	1,934
Changes in working capital:
Change in inventories	7,750	6,020	-502	-2,112
Change in receivables and prepayments	-23,694	-58,744	-33,515	-47,072
Change in liabilities (excluding provisions) ⁸	4,620	38,499	-3,300	-5,547
Cash generated from operations	32,064	34,707	32,408	18,442

Interest received	44	44	151	86
Interest (paid)	-276	-338	-476	-602
Corporate income taxes (paid)	-3,163	-1,151	-5,231	-3,021
Cash flows from operating activities	28,669	33,262	26,852	14,905

Investments in intangible assets	-29,159	-25,678	-54,673	-46,982
Investments in property, plant and equipment	-4,255	-4,558	-7,358	-12,293
Acquisition of subsidiaries and other businesses	0	0	-24,493	-2,331
Dividends received	0	80	0	80
Cash flows from investing activities	-33,414	-30,156	-86,524	-61,526

Change in utilisation of credit facility	-2,000	13,000	-7,000	33,000
Repayment of borrowings	-382	0	-708	-4,287
Change in non-controlling interest	-123	0	-123	0
Dividends paid	0	-271	0	-127
Proceeds on issue of ordinary shares	8,809	6,433	10,980	7,668
Cash flows from financing activities	6,304	19,162	3,149	36,254

Net increase / (decrease) in cash and cash equivalents	1,559	22,268	-56,523	-10,367
Cash and cash equivalents at beginning of period	84,427	114,630	142,527	147,565
Exchange rate changes on cash balances held in foreign currencies	-945	-507	-963	-807
Cash and cash equivalents at end of period	85,041	136,391	85,041	136,391

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