TomTom reports second quarter 2011 results
Consolidated statements of cash flows
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(in € thousands)
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Q2 '11
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Q2 '10
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H1 '11
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H1 '10
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Operating result
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-493,978
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49,641
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-475,819
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66,642
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Financial gains/(losses)
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2,297
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3,901
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-897
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-6,287
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Depreciation of property, plant and equipment
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4,376
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3,490
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7,890
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8,088
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Amortisation of intangible assets
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23,717
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22,220
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46,525
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44,488
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Impairment charge
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511,936
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0
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511,936
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0
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Change in provisions
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135
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3,045
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-2,683
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-2,468
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Change in stock compensation reserve
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2,120
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4,269
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4,805
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6,999
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Changes in working capital:
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Change in inventories
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-3,099
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-1,728
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-8,587
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3,904
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Change in receivables and prepayments
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-71,283
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-88,109
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99,641
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29,871
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Change in current liabilities (exc. Provisions)
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683
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85,191
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-200,406
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-92,059
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Cash generated from operations
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-23,096
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81,920
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-17,595
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59,178
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Interest received
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448
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289
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886
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447
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Interest paid
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-4,883
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-5,309
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-9,946
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-11,174
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Corporate income taxes (paid)
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-4,660
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-9,736
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-3,072
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-22,483
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Net cash flows from operating activities
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-32,191
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67,164
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-29,727
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25,968
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Investments in intangible assets
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-20,448
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-9,439
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-32,917
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-20,743
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Investments in property, plant and equipment
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-4,430
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-2,730
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-8,797
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-6,185
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Total cash used in investing activities
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-24,878
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-12,169
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-41,714
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-26,928
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Proceeds on issue of ordinary shares
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160
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0
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724
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0
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Total cash flows from financing activities
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160
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0
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724
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0
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Net decrease in cash and cash equivalents
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-56,909
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54,995
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-70,717
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-960
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Cash and cash equivalents at beginning of period
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289,316
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313,495
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305,600
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368,403
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Exchange rate effect on cash balances held in foreign currencies
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-172
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-1,607
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-2,648
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-560
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Cash and cash equivalents at end of period
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232,235
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366,883
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232,235
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366,883
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