The cash flow from operating activities for the quarter was €68 million, which is €3.3 million lower compared the same quarter last year (Q3 '13: €71 million).

The cash flow used in investing activities during the quarter was €22 million (Q3 '13: €24 million). The majority of the investments in the quarter related to our new map production platform and the connected navigation system components for the Automotive industry.

In the third quarter, 1.1 million options related to our long-term employee incentive programmes, were exercised resulting in €5 million cash in.

Dividend policy

At the general meeting of 1 May 2014, the Management Board was requested to give further consideration to the topic of ‘shareholders’ remuneration’.

The Management Board has considered this request from a number of points of view, such as business prospects, cash requirements, financial performance, new product development and plans for international expansion. After having considered all these factors, the Management Board has decided not to change the company’s policy, meaning that it has no current plans to distribute a dividend. The company gives priority to increasing technology investments to strengthen its capabilities and competitive position and to pursuing acquisitions in its fleet management business (Telematics), whilst at the same time improving its balance sheet.

Further information can be found on our corporate website.

Consolidated condensed statement of income