| (in € thousands) |
Q4'10
(unaudited) |
Q4'09
(unaudited) |
FY'10
(audited) |
FY'09
(audited) |
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| Operating result | 64,725 | 110,730 | 186,322 | 220,888 | ||||
| Financial (losses) / gains | -4,394 | -3,890 | -11,789 | -19,741 | ||||
| Depreciation of PPE | 3,396 | 5,951 | 14,863 | 20,416 | ||||
| Amortisation of intangible assets | 27,105 | 19,805 | 94,235 | 85,920 | ||||
| Change to provisions | 1,500 | 10,807 | -5,180 | -1,267 | ||||
| Change to stock compensation reserve | 2,092 | 705 | 12,901 | 7,748 | ||||
| Changes in working capital: | ||||||||
| Change in inventories | -13,965 | 12,876 | -26,987 | 81,363 | ||||
| Change in receivables and prepayments | -65,138 | -71,469 | -27,617 | -14,090 | ||||
| Change in current liabilities | 127,531 | 119,214 | 28,545 | 48,536 | ||||
| Cash generated from operations | 142,852 | 204,729 | 265,293 | 429,773 | ||||
| Interest received | 278 | 966 | 977 | 2,843 | ||||
| Interest paid | -6,125 | -8,735 | -25,589 | -66,480 | ||||
| Corporate income taxes paid | 4,260 | -10,813 | -30,378 | -25,798 | ||||
| Net cash flow from operating activities | 141,265 | 186,147 | 210,303 | 340,338 | ||||
| Investments in intangible assets | -14,140 | -14,562 | -47,096 | -56,991 | ||||
| Investments in property, plant and equipment | -8,155 | -6,550 | -17,866 | -18,735 | ||||
| Acquisition of subsidiary | 0 | -11,369 | 0 | -13,973 | ||||
| Total cash flow used in investing activities | -22,295 | -32,481 | -64,962 | -89,699 | ||||
| Repayment of borrowings | -85,000 | -210,000 | -210,000 | -622,048 | ||||
| Proceeds on issue of ordinary shares | 815 | 74 | 817 | 415,941 | ||||
| Total cash flow from financing activities | -84,185 | -209,926 | -209,183 | -206,107 | ||||
| Net (decrease) increase in cash and cash equivalents | 34,785 | -56,260 | -63,842 | 44,532 | ||||
| Cash and cash equivalents at beginning of period | 267,615 | 422,932 | 368,403 | 321,039 | ||||
| Exchange rate effect on cash balances held in foreign currencies | 3,200 | 1,731 | 1,039 | 2,832 | ||||
| Cash and cash equivalents at end of period | 305,600 | 368,403 | 305,600 | 368,403 |
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TomTom reports fourth quarter and full year 2010 results
Consolidated statements of cash flows
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