Amortisation of construction contributions
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Other income in 2015 came in at €94 million (2014: €135 million). This decrease is largely accounted for by the book profit on the disposal of the KEMA shares (€40 million) in 2014. Apart from this, other income mainly relates to the amortisation of connection contributions from our customers (€64 million) and sundry other income, including compensation received for losses, rents and book profits on the sale of assets and other income (€30 million).
Sale of interest in KEMA
The incidental item in 2014 included in other income relates to the disposal of the 25.4% interest in KEMA to DNV GL Group, including the impairment loss recognised on the related put and call options. This transaction has been accounted for as follows:
Disposal of interest in KEMA
Less: carrying amount of interest
Gross book profit
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Book profit before tax (other income)
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Book profit after tax
The substantial-holding privilege is applicable to the gross book profit. On write-down of the options, the related deferred tax asset was released to income, producing a net book profit recognised on the sale of the interest in KEMA of €45 million.