TomTom Reports Third Quarter 2013 Results

Consolidated condensed statements of cash flows

(in € thousands)	Q3 '13	Q3 '12	YTD '13	YTD '12

Operating result	13,615	31,823	21,310	45,611
Financial (losses)/ gains	-323	-134	-4,576	3,442
Depreciation and amortisation	27,416	26,577	88,336	82,142
Change in provisions	-5,361	-6,615	-6,578	-8,500
Equity-settled stock compensation expenses	1,557	1,281	4,469	4,490
Changes in working capital:
Change in inventories	-6,959	3,116	-9,113	958
Change in receivables and prepayments	842	-11,074	11,503	14,602
Change in liabilities (excl. Provisions) ³	44,094	8,009	24,075	-54,458
Cash flow from operations	74,881	52,983	129,426	88,287

Interest received	73	433	1,068	983
Interest paid	-607	-1,715	-2,114	-6,442
Corporate income taxes received/(paid)	-3,389	-1,466	80,289	-6,781
Cash flow from operating activities	70,958	50,235	208,669	76,047

Investments in intangible assets	-21,841	-10,843	-59,977	-31,915
Investments in property, plant and equipment	-2,663	-1,779	-10,286	-5,792
Dividend received	45	0	1,001	1,447
Cash flow from investing activities	-24,459	-12,622	-69,262	-36,260

Repayment of borrowings	0	-50,000	-75,000	-98,000
Dividends paid	0	0	-204	0
Proceeds on issue of ordinary shares	0	0	157	0
Cash flow from financing activities	0	-50,000	-75,047	-98,000

Net increase/(decrease) in cash and cash equivalents	46,499	-12,387	64,360	-58,213
Cash and cash equivalents at beginning of period	181,139	148,910	164,459	193,579
Exchange rate effect on cash balances held in foreign currencies	-100	5	-1,281	1,162
Cash and cash equivalents at end of period	227,538	136,528	227,538	136,528

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