The net result for the quarter was a loss of €5.6 million compared with a gain of €21 million in Q4 '15. The net result adjusted for acquisition-related expenses & gains on a post-tax basis was a gain of €11 million compared with €23 million in Q4 '15.
Adjusted EPS for the quarter was €0.05 versus €0.10 in Q4 '15. Adjusted EPS for 2016 was €0.23 (FY '15: €0.21).
Balance sheet
At the end of the quarter, trade receivables plus other receivables totalled €179 million compared with €192 million at the end of Q4 '15. The inventory level at the end of the quarter was €54 million, compared with €49 million at the end of the same quarter last year. Cash and cash equivalents at the end of the quarter were €143 million versus €148 million at the end of Q4 '15.
Current liabilities excluding deferred revenue were €266 million compared with €293 million at the end of Q4 '15. The year on year decrease is mainly due to a decrease in trade payables.
Deferred revenue was €204 million at the end of Q4 '16, compared with €187 million at the end of the same quarter last year. The year on year increase reflects the increased deferred revenue position related to Automotive contracts with upfront payments.
Deferred revenue balance by segment
| (€ in millions) | 31 December 2016 | 31 December 2015 |
y.o.y.
|
|||
| Automotive & Licensing | 70.0 | 53.8 | 16.2 | |||
| Automotive | 58.6 | 22.6 | 36.0 | |||
| Licensing | 11.4 | 31.2 | -19.8 | |||
| Telematics | 1.7 | 2.7 | -1.0 | |||
| Consumer | 132.7 | 130.4 | 2.3 | |||
| Total deferred revenue | 204.4 | 186.9 | 17.5 |
