Related party transactions

For related party transactions please refer to note 9 of our interim financial report.

Principal risks and uncertainties H1 2017

The risks associated with building a multi-product Consumer business were acknowledged in TomTom’s Group Risk Profile (see 2016 Annual Report). The weaker than expected Sports revenue is a partial realisation of this risk.

Taking the decision to evaluate our strategic options for Consumer Sports gives rise to a change in this risk. The most significant changes are the possible negative impact on our brand name, the unnecessary loss of talented people employed by our organisation and the negative market response to the TomTom Sports business itself.

We have anticipated these risks and prepared appropriate risk responses that include investigating the strategic options for Consumer Sports as well as proactively engaging stakeholders to minimise TomTom organisational and product market disruption.

All other group risks mentioned in the Group Risk Profile section of TomTom’s 2016 Annual Report are still relevant and deemed incorporated and repeated in this report by reference.

Responsibility statement

With reference to the statement within the meaning of article 5:25d (2c) of the Financial Supervision Act, the Management Board hereby declares that, to the best of their knowledge:

• the interim financial statements prepared in accordance with IAS 34, “Interim Financial Reporting”, give a true and fair view of the assets, liabilities, financial position, profit or loss of the company and the undertakings included in the consolidation taken as a whole; and
• the interim Management Board report gives a fair review of the information required pursuant to section 5:25d(8)/(9) of the Financial Supervision Act.

Amsterdam, 19 July 2017

The Management Board

Harold Goddijn / Chief Executive Officer
Taco Titulaer / Chief Financial Officer
Alain De Taeye / Member of the Management Board

Consolidated condensed statement of income