On a full year basis, acquisition-related amortisation amounted to €52 million in 2015, 3% higher compared with last year (FY '14: €50 million). This reflects increased amortisation charges from our Telematics acquisitions as well as the 2015 acquisition of Location Navigation Pty. Ltd., offset by lower amortisation from certain map-making tools that have been fully amortised in 2014.
Financial income and expenses
The net interest charge for the quarter was €0.2 million versus a net interest charge of €1.1 million in Q4 '14. The decrease is mainly due to lower interest rates applied against lower utilised amounts from our credit facility throughout 2015. The other financial result for the quarter was a loss of €2.4 million (Q4 '14: loss of €1.6 million), which consisted primarily of foreign exchange losses from the revaluation of monetary balance sheet items partially offset by our hedging results.
On a full year basis, the total financial income and expense charge amounted to €8 million compared with €7 million in 2014.
Income tax
The net income tax for the quarter was a gain of €23 million versus a net income tax gain of €2 million in Q4 '14. The net income tax for the year was a gain of €26 million, mainly as the result of remeasuring certain deferred tax assets and liabilities to a lower rate due to the application of the innovation box facility in the Netherlands, as well as some other one-off releases of provisions.
Net result and adjusted EPS
| (€ in millions, unless stated otherwise) | Q4 '15 | Q4 '14 |
y.o.y.
|
FY '15 | FY '14 |
y.o.y.
|
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| Net result | 20.9 | 0.5 | 18.3 | 22.7 | -19% | |||||||||||||
| Net result attributed to equity holders | 20.8 | 0.5 | 18.1 | 22.6 | -20% | |||||||||||||
| Remeasurement of deferred tax liability | -7.5 | -7.5 | ||||||||||||||||
| Acquisition-related amortisation | 13.1 | 12.3 | 7% | 52.1 | 50.3 | 3% | ||||||||||||
| Tax effect of adjustments | -3.3 | -3.1 | 7% | -13.0 | -12.6 | 3% | ||||||||||||
| Adjusted net result | 23.1 | 9.7 | 139% | 49.6 | 60.3 | -18% | ||||||||||||
| Adjusted EPS, € fully diluted | 0.10 | 0.04 | 128% | 0.21 | 0.27 | -20% | ||||||||||||
|
Change percentages are based on non-rounded figures. |
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