11. Discontinued operations
The following table summarizes the results from discontinued operations for the year ended 31 December 2014.
|
Year ended 31 December |
(thousands of €, except share and per share data) |
2014 |
Service revenues |
17,502 |
Other income |
669 |
Total revenues and other income |
18,171 |
|
|
Services cost of sales |
(11,283) |
General and administrative expenses |
(3,772) |
Sales and marketing expenses |
(255) |
Restructuring and integration costs |
(38) |
Gain on sale of service division |
67,508 |
Operating income |
70,331 |
|
|
Finance result |
417 |
|
|
Income before tax |
70,748 |
|
|
Income taxes |
(234) |
|
|
Net income from discontinued operations |
70,514 |
|
|
Basic and diluted income per share from discontinued operations |
2.34 |
Weighted average number of shares (in thousands of shares) |
30,108 |
The service division was sold on 1 April 2014. The above table illustrates the results of the discontinued operations included in the consolidated results of operations for the years ended 31 December 2015 and 2014. For the year ended 31 December 2014, results only relate to the period from 1 January 2014 through the disposal on 1 April 2014.
Net income amounting to €70.5 million in 2014 was mainly driven by the €67.5 million gain on disposal of the service division.
Cash flows from discontinued operations can be summarized as follows:
|
Year ended 31 December |
(thousands of €) |
2014 |
Net cash flows used in operating activities |
(1,722) |
Net cash flows generated in investing activities |
122,580 |
Net cash flows generated / used (–) in financing activities |
|
Net cash generated |
120,858 |