179 348
179
(*) The previously published prior year consolidated financial statements have been restated following the adoption of IFRS 10 and IFRS 11. Further details can
be found in Section C. Restatement of comparative figures.
Gross investments in intangible assets amount to Euro 18
million in 2014, of which Euro 11 million for development of
the “SAP Consolidation” project, intended to harmonise the
information system across the Group.
As at 31 December 2014, the Prysmian Group had capitali-
sed Euro 380 million in Goodwill; this Goodwill reflects the
effects of:
• the adoption of IFRS 10 and IFRS 11: this has resulted
in the restatement of the Group’s consolidated figures
with effect from 1 January 2013. In particular, goodwill
has been allocated to the value of the investments in
Yangtze Optical Fibre and Cable Joint Stock Limited Co.
and Yangtze Optical Fibre and Cable (Shanghai) Co. Ltd,
for which changed their method of consolidation from
proportional and line-by-line respectively to the equity
method. The reallocation was performed on the basis of
the value of net invested capital at 1 January 2013.
• the redefinition of the operating segments after
adopting the new organisational structure: this has
resulted in reallocating goodwill previously allocated to
the Energy segment to the new operating segments:
Energy Products and Energy Projects. The reallocation
was performed on the basis of the value of net invested
capital at 1 January 2014 (the date of the organisational
change).
At 31 December 2014, the development costs for the SURF
business capitalised by the Brazilian subsidiary Prysmian
Surflex Umbilicais e Tubos Flexiveis do Brasil Ltda were
tested for impairment. This has resulted in the recognition
of an impairment loss of Euro 21 million in 2014.
Goodwill impairment test
As reported earlier, the Chief Executive Officer reviews
operating performance by macro type of business. Until
31 December 2013, the types of businesses identified
were Energy and Telecom. From 1 January 2014 the Group
embarked on a process of organisational change, in keeping
with the new model in which the operating segments are:
Energy Products, Energy Projects and Telecom. Goodwill has
therefore been monitored internally at the level of these
operating segments.
Patents
Concessions,
Goodwill
Software Other intangible
Intangibles in Total
licences, trademarks
assets
progress
and similar rights
and advances
Balance at 31 December 2012 (*)
27
4
377
34
147
19 608
Movements in 2013:
- Business combinations
-
-
2
-
(1)
-
1
- Investments
1
1
-
1
-
7
10
- Internally generated intangible assets
-
-
-
6
-
2
8
- Disposals
-
-
-
-
-
-
-
- Amortisation
(7)
(1)
-
(10)
(14)
-
(32)
- Impairment
-
-
-
-
-
-
-
- Currency translation differences
-
-
(2)
(1)
(2)
(2)
(7)
- Other
(2)
1
-
2
3
(4)
-
Total movements
(8)
1
-
(2)
(14)
3 (20)
Balance at 31 December 2013 (*)
19
5
377
32
133
22 588
Of which:
- Historical cost
45
54
397
76
195
22
789
- Accumulated amortisation and impairment (26)
(49)
(20)
(44)
(62)
-
(201)
Net book value
19
5
377
32
133
22 588
(in millions of Euro)