22. Intangible Assets

Development of Intangible Assets

in € thousand

 

Goodwill

 

Software

 

Internally
developed software

 

Other
intangible assets

 

Payments
made on account

 

Total

Carrying amount as of 1 January 2015

 

38,933

 

14,679

 

21,099

 

0

 

3,133

 

77,844

Acquisition or production cost

 

 

 

 

 

 

 

 

 

 

 

 

1 January 2015

 

47,089

 

62,220

 

45,736

 

1,404

 

3,133

 

159,582

Additions

 

 

 

1,858

 

1,820

 

 

 

5,135

 

8,814

Disposals

 

 

 

- 659

 

 

 

 

 

 

 

- 659

Reclassifications

 

 

 

1,064

 

1,431

 

 

 

- 2,463

 

32

Changes in scope of consolidation/
consolidation method

 

 

 

 

 

 

 

 

 

 

 

0

Effects of changes in exchange rates

 

58

 

- 547

 

 

 

- 1

 

 

 

- 490

31 December 2015

 

47,147

 

63,936

 

48,987

 

1,403

 

5,805

 

167,279

Accumulated depreciation, amortisation and impairment

 

 

 

 

 

 

 

 

 

 

 

 

1 January 2015

 

8,157

 

47,541

 

24,637

 

1,404

 

0

 

81,739

Additions

 

 

 

4,908

 

7,728

 

 

 

 

 

12,636

Disposals

 

 

 

- 659

 

 

 

 

 

 

 

- 659

Reclassifications

 

 

 

 

 

 

 

 

 

 

 

0

Changes in scope of consolidation/
consolidation method

 

 

 

 

 

 

 

 

 

 

 

0

Effects of changes in exchange rates

 

58

 

- 345

 

 

 

- 1

 

 

 

- 288

31 December 2015

 

8,215

 

51,445

 

32,365

 

1,403

 

0

 

93,428

Carrying amount as of 31 December 2015

 

38,933

 

12,491

 

16,622

 

0

 

5,805

 

73,851

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying amount as of 1 January 2016

 

38,933

 

12,491

 

16,622

 

0

 

5,805

 

73,851

Acquisition or production cost

 

 

 

 

 

 

 

 

 

 

 

 

1 January 2016

 

47,147

 

63,936

 

48,987

 

1,403

 

5,805

 

167,279

Additions

 

 

 

2,188

 

9,639

 

 

 

496

 

12,323

Disposals

 

- 3

 

- 1,431

 

- 677

 

 

 

 

 

- 2,111

Reclassifications

 

 

 

- 198

 

4,989

 

 

 

- 4,791

 

0

Changes in scope of consolidation/
consolidation method

 

 

 

7

 

 

 

854

 

 

 

861

Effects of changes in exchange rates

 

- 32

 

- 168

 

 

 

6

 

 

 

- 194

31 December 2016

 

47,112

 

64,334

 

62,938

 

2,263

 

1,510

 

178,157

Accumulated depreciation, amortisation
and impairment

 

 

 

 

 

 

 

 

 

 

 

 

1 January 2016

 

8,215

 

51,445

 

32,365

 

1,403

 

0

 

93,428

Additions

 

 

 

4,588

 

6,206

 

 

 

 

 

10,794

Disposals

 

 

 

- 1,316

 

- 324

 

 

 

 

 

- 1,640

Reclassifications

 

 

 

 

 

 

 

 

 

 

 

0

Changes in scope of consolidations/
consolidation method

 

 

 

6

 

 

 

 

 

 

 

6

Effects of changes in exchange rates

 

- 33

 

- 111

 

 

 

 

 

 

 

- 144

31 December 2016

 

8,182

 

54,612

 

38,247

 

1,403

 

0

 

102,444

Carrying amount as of 31 December 2016

 

38,930

 

9,722

 

24,691

 

860

 

1,510

 

75,713

In the Container segment, goodwill of € 35,525 thousand is attributable to the cash-generating unit (CGU) CTT/Rosshafen and further goodwill of € 1,893 thousand is attributable to the CGU HCCR. Of the CGU CTT/Rosshafen’s goodwill, € 30,929 thousand was generated by the acquisition of all the shares in HHLA Rosshafen GmbH, Hamburg, in 2006. Goodwill is primarily derived from additional strategic options to expand the Group’s handling activities at the sites let long-term by the company.

Carrying Amounts for Goodwill by Segments

in € thousand

 

31.12.2016

 

31.12.2015

Container

 

37,418

 

37,418

Intermodal and Other

 

1,512

 

1,515

 

 

38,930

 

38,933

In the period for which detailed forecasts are made, cash flows are largely determined by developments in the operating result (). Developments in EBIT result from anticipated volumes and income along with the relevant cost structure. The cost structure is primarily determined by the level of capacity utilisation achieved and the technology used.

For the CGU CTT/Rosshafen, the recoverable amount is calculated as fair value less selling costs using the discounted cash flow method. The discount rate after tax is 4.62 % (previous year: 4.97 %). Growth factors of 1.0 % (previous year: 1.0 %) were applied.

Based on the estimate used, the recoverable amount for the CGU CTT/Rosshafen is approximately € 30 million higher than the carrying amount for valuation purposes. As the recoverable amount is close to the carrying amount for valuation purposes, the management considers it possible that there could be a change in material assumptions which would lead to the carrying amount exceeding the recoverable amount.

The overview below shows the necessary change in the various material valuation parameters which would lead to the recoverable amount being the same as the carrying amount.

Valuation parameters

in % / pp

 

Necessary change

*)

Change applies to the detailed planning of the first five years and the continuation value

Discount rate

 

+ 0.52 pp

Growth factor

 

- 0.65 pp

EBIT*

 

- 14 %

Terminal

In maritime logistics, a terminal is a facility where freight transported by various modes of transport is handled.

EBIT

Earnings before interest and taxes.