Operating result

GrandVision's operating result (EBIT) increased by 1.4% to €358 million in 2016, compared to €353 million in 2015. The increase in the operating result was achieved through revenue growth, network expansion, as well as cost management and the continued roll-out of our global capabilities, which led to efficiency gains across our business.

Depreciation and amortization of software increased to €127 million in 2016 from €121 million in 2015 in-line with the underlying growth of the business. Total amortization and impairments was €37 million in 2016 compared to €32 million in 2015.