TomTom Reports First Quarter 2013 Results

Consolidated statements of cash flows

(in € thousands)	Q1 '13	Q1 '12

Operating result	48	-144
Financial (losses)/gains	-2,643	2,958
Depreciation and amortisation	28,708	28,237
Change in provisions	-2,024	-5,244
Equity-settled stock compensation expense	1,442	1,582
Changes in working capital:
Change in inventories	-7,502	8,684
Change in receivables and prepayments	33,937	79,392
Change in current liabilities ² Includes movements in the non-current portion of deferred revenue presented under Other long term liabilities.	-24,902	-99,357
Cash generated from operations	27,064	16,108

Interest received	382	430
Interest paid	-871	-2,634
Corporate income tax received	65,648	1,636
Net cash flow from operating activities	92,223	15,540

Investments in intangible assets	-17,700	-11,332
Investments in property, plant and equipment	-3,588	-1,866
Dividend received	499	0
Total cash flow used in investing activities	-20,789	-13,198

Repayment of borrowings	-75,000	-28,000
Dividends paid	-204	0
Total cash flow used in financing activities	-75,204	-28,000

Net decrease in cash and cash equivalents	-3,770	-25,658
Cash and cash equivalents at beginning of period	164,459	193,579
Exchange rate effect on cash balances held in foreign currencies	266	93
Cash and cash equivalents at end of period	160,955	168,014

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