TomTom reports third quarter 2016 results

Consolidated condensed statements of cash flows


(€ in thousands)	Q3 '16 Unaudited	Q3 '15 Unaudited	YTD '16 Unaudited	YTD '15 Unaudited

Operating result	953	4,887	9,392	397
Financial losses	-1,960	-6,586	-1,559	-2,463
Depreciation and amortisation	32,140	27,805	92,951	81,560
Change in provisions	-2,422	-1,250	-834	-6,075
Equity-settled stock compensation expenses	816	672	2,750	2,742
Changes in working capital:
Change in inventories	-10,535	-5,776	-12,647	-6,500
Change in receivables and prepayments	19,192	-3,838	-27,880	-43,065
Change in liabilities (excluding provisions) ⁴	22,571	33,021	17,024	38,532
Cash generated from operations	60,755	48,935	79,197	65,128

Interest received	42	103	128	392
Interest paid	-364	-347	-966	-901
Corporate income taxes paid	-6,695	-2,031	-9,716	-3,399
Cash flows from operating activities	53,738	46,660	68,643	61,220

Investments in intangible assets	-27,489	-23,369	-74,471	-64,280
Investments in property, plant and equipment	-4,409	-7,371	-16,702	-17,559
Acquisitions of subsidiaries and other businesses	0	-500	-2,331	-17,461
Dividends received	50	105	130	105
Cash flows from investing activities	-31,848	-31,135	-93,374	-99,195

Change in utilisation of credit facility	-30,000	-15,000	3,000	-20,000

Repayment of borrowings	0	0	-4,287	0
Change in non-controlling interest	-98	0	-98	-126
Dividends paid	-11	0	-138	0
Proceeds on issue of ordinary shares	1,255	3,035	8,923	29,913
Cash flows from financing activities	-28,854	-11,965	7,400	9,787
Net increase / (decrease) in cash and cash equivalents	-6,964	3,560	-17,331	-28,188
Cash and cash equivalents at beginning of period	136,391	121,627	147,565	152,949
Exchange rate changes on cash balances held in foreign currencies	-165	-760	-972	-334
Cash and cash equivalents at end of period	129,262	124,427	129,262	124,427

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