TomTom Reports Second Quarter 2013 Results

Consolidated condensed statements of cash flows


(in € thousands)	Q2 '13	Q2 '12	H1 '13	H1 '12

Operating result	7,648	13,934	7,695	13,789
Financial (losses)/ gains	-1,610	618	-4,253	3,576
Depreciation and amortisation	32,212	27,329	60,920	55,566
Change in provisions	806	3,359	-1,218	-1,885
Equity-settled stock compensation expenses	1,470	1,627	2,912	3,210
Changes in working capital:
Change in inventories	5,348	-10,843	-2,154	-2,158
Change in receivables and prepayments	-23,277	-53,716	10,660	25,676
Change in current liabilities (exc. Provisions)	4,883	36,889	-20,018	-62,467
Cash flow from operations	27,480	19,197	54,544	35,307

Interest received	613	121	995	551
Interest paid	-635	-2,093	-1,507	-4,727
Corporate income taxes received/(paid)	18,030	-6,954	83,678	-5,318
Cash flow from operating activities	45,488	10,271	137,710	25,813

Investments in intangible assets	-18,101	-9,738	-35,800	-21,072
Investments in property, plant and equipment	-4,034	-2,147	-7,623	-4,012
Acquisition of subsidiary	-2,335	0	-2,335	0
Dividend received	456	1,447	955	1,447
Cash flow from investing activities	-24,014	-10,438	-44,803	-23,637

Repayment of borrowings	0	-20,000	-75,000	-48,000
Dividends paid	0	0	-204	0
Proceeds on issue of ordinary shares	157	0	157	0
Cash flow from financing activities	157	-20,000	-75,047	-48,000

Net increase/(decrease) in cash and cash equivalents	21,631	-20,167	17,860	-45,824
Cash and cash equivalents at beginning of period	160,955	168,014	164,459	193,579
Exchange rate effect on cash balances held in foreign currencies	-1,447	1,063	-1,180	1,155
Cash and cash equivalents at end of period	181,139	148,910	181,139	148,910

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