29. Discontinued Operations

Notes to the Consolidated Financial Statements

29. Discontinued Operations

In accordance with the decision of Digia Plc's Annual General Meeting of 16 March 2016, Digia's partial demerger came into force on 1 May 2016. Digia Plc was demerged such that all assets, liabilities and responsibilities related to its Qt business were transferred to Qt Group Plc, a new company established in the demerger. The table below presents the key financial figures for the Qt business as discontinued operations. In addition to Qt's net result, the reported figures for discontinued operations include demerger expenses and the difference between the fair values and carrying amounts of net assets transferred to Qt.

Discontinued operations 2016
Net sales 10,619
Operating profit 848*
Effect of demerger on earnings 74,994
Net profit 75,842
   
Goodwill 6,562
Other intangible rights 5,742
Tangible assets 515
Accounts receivable 6,532
Cash and cash equivalents 2,301
Other receivables 1,058
Advance payments received 6,550
Other liabilities 4,947
* Includes EUR 0.4 million in demerger-related expenses.