TomTom Reports First Quarter 2015 Results

1The Q1 '15 income and expenses in US dollar and GB pound have been reconverted to euro using Q1 ’14 average exchange rates. All other foreign currencies have not been reconverted.

Operating expenses

Total operating expenses for the quarter were €115 million, which is €1 million lower compared to €116 million in the same quarter last year. The lower operating expenses were mainly driven by lower Amortisation of technology and databases partially offset by slightly higher SG&A expenses. The increase in SG&A costs partially reflects amortisation of acquired customer contracts following our recent acquisitions. Marketing expenses were relatively flat year on year.

Depreciation and amortisation

                   
(€ in millions)     Q1 '15     Q1 '14     y.o.y. change
                   
Depreciation     3.1     3.8     -20%
Amortisation     23.4     24.4     -4%
Total     26.5     28.2     -6%
Of which acquisition-related amortisation     12.7     13.2     -4%

Change percentages are based on non-rounded figures


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