TomTom Reports Third Quarter 2017 Results

Consolidated condensed statements of cash flows


(€ in thousands)	Q3 '17 Unaudited	Q3 '16 Unaudited	YTD '17 Unaudited	YTD '16 Unaudited

Operating result	-6,008	953	-170,362	9,392
Financial (losses)	-3,315	-1,960	-2,918	-1,559
Depreciation, amortisation and impairment	37,177	32,140	274,727	92,951
Change in provisions	11,475	-2,422	3,205	-834
Equity-settled stock compensation expenses	2,346	816	6,748	2,750
Changes in working capital:
Change in inventories	212	-10,535	-290	-12,647
Change in receivables and prepayments	-11,657	19,192	-45,172	-27,880
Change in liabilities (excluding provisions) ⁶	21,149	22,571	17,849	17,024
Cash generated from operations	51,379	60,755	83,787	79,197

Interest received	48	42	199	128
Interest (paid)	-214	-364	-690	-966
Corporate income taxes (paid)	-3,082	-6,695	-8,313	-9,716
Cash flows from operating activities	48,131	53,738	74,983	68,643

Investments in intangible assets	-25,313	-27,489	-79,986	-74,471
Investments in property, plant and equipment	-3,457	-4,409	-10,815	-16,702
Acquisition of subsidiaries and other businesses			-24,493	-2,331
Dividends received	106	50	106	130
Cash flows from investing activities	-28,664	-31,848	-115,188	-93,374

Change in utilisation of credit facility		-30,000	-7,000	3,000
Repayment of borrowings			-708	-4,287
Change in non-controlling interest		-98	-123	-98
Dividends paid		-11		-138
Proceeds on issue of ordinary shares	860	1,255	11,840	8,923
Cash flows from financing activities	860	-28,854	4,009	7,400

Net increase / (decrease) in cash and cash equivalents	20,327	-6,964	-36,196	-17,331
Cash and cash equivalents at beginning of period	85,041	136,391	142,527	147,565
Exchange rate changes on cash balances held in foreign currencies	-148	-165	-1,111	-972
Cash and cash equivalents at end of period	105,220	129,262	105,220	129,262

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