171
Gross investments in intangible assets amount to Euro 18
million in 2013, and primarily refer to:
• Euro 8 million for development of the SAP Consolidation
project, aimed at standardising the information system
throughout the Group. In 2013 the new system was rolled
out to the following countries in Europe: Czech Republic,
Norway, Denmark and Sweden.
• Euro 3 million for the Brazilian subsidiary’s development of
a prototype destined for flexible pipe production.
As at 31 December 2013, the Prysmian Group had capitalised
Euro 394 million in Goodwill; this figure has been remeasured
as a result of the following:
• finalisation of the fair value of the assets and liabilities of
Global Marine Systems Energy Ltd (now renamed Prysmian
PowerLink Services Ltd): leading to a restatement of the
amounts recognised at 31 December 2012 by a total of Euro
11 million. Goodwill recognised in respect of this company
amounts to Euro 38 million at 31 December 2013.
• finalisation of the values for the acquisition of a majority
interest in Telcon Fios e para Telecomuniçaoes Cabos
S.A., resulting in an increase of Euro 2 million. Goodwill
recognised in respect of this company amounts to Euro 6
million at 31 December 2013.
Further details can be found in Section F. Business
combinations.
Goodwill impairment test
As reported earlier, the Chief Executive Officer reviews
operating performance by macro type of business (Energy and
Telecom). Goodwill is monitored internally at the Energy and
Telecom operating segment level.
(in millions of Euro)
Patents
Concessions,
Goodwill
Software
Other
Intangibles in
Total
licences, trademarks
intangible progress and
and similar rights
assets
advances
Balance at 31 December 2011
34
4
352
35
179
14
618
Movements in 2012:
- Business combinations
-
-
53
-
2
-
55
- Business combinations restatement (*)
(11)
(11)
- Effects of deconsolidation
-
-
-
-
-
-
-
- Investments
2
1
-
2
-
8
13
- Internally generated intangible assets
-
-
-
3
-
4
7
- Disposals
-
-
-
-
-
-
-
- Amortisation
(9)
(1)
-
(10)
(15)
-
(35)
- Impairment
-
-
-
-
-
-
-
- Currency translation differences
-
-
-
-
(1)
(1)
(2)
- Other
-
-
-
4
1
(6)
(1)
Total movements
(7)
-
42
(1)
(13)
5
26
Balance at 31 December 2012
27
4
394
34
166
19
644
Of which:
- Historical cost
46
52
414
68
216
19
815
- Accumulated amortisation and impairment
(19)
(48)
(20)
(34)
(50)
-
(171)
Net book value
27
4
394
34
166
19
644
(*) The “Business combinations restatement” at 31 December 2012 relates to the Goodwill of Global Marine Systems Energy Ltd (now renamed Prysmian
PowerLink Services Ltd).
