22. Intangible assets

The goodwill of the cash-generating unit (CGU) CTT/Rosshafen in the amount of € 35,525 thousand, the CGU HHLA TK Estonia in the amount of € 7,587 thousand and the CGU HCCR in the amount of € 1,893 thousand is attributable to the Container segment. The goodwill newly recognised in the Container segment in the amount of € 8,487 thousand is due to the acquisition of HHLA PLT Italy S.r.l., Trieste, Italy, see Note 3.

The goodwill newly recognised in the Logistics segment in the amount of € 6,458 thousand is due to the acquisition of iSAM AG, Mülheim an der Ruhr, and its three subsidiaries, which have been added to HHLA’s group of consolidated companies, see Note 3.

The goodwill attributable to the Logistics segment as a result of the acquisition of Bionic Production GmbH, Lüneburg (Bionic), was tested for impairment in the second quarter of 2021 due to the deterioration in the global economic environment. The Executive Board of HHLA AG calculated a recoverable amount of € 14,098 thousand for the CGU Bionic. As a result, an impairment loss of € 994 thousand was recognised in the second quarter, reducing the carrying amount of the goodwill attributable to this CGU to € 3,988 thousand (31 December 2020: € 4,982 thousand).

As of the measurement date of 31 December 2021 and as part of the annual review of goodwill for the CGU Bionic, the recoverable amount was calculated once again. The continuing difficult situation led to a significantly reduced recoverable amount of € 5,857 thousand compared with the second quarter of 2021. The carrying amount of the goodwill as of 30 June 2021 in the amount of € 3,988 thousand was completely revalued as a result. In connection with this revaluation, a conditional purchase price liability of € 2,064 thousand was derecognised through profit or loss as the conditions are unlikely to occur, see Note 11.

Both in the second quarter and as of the reporting date of 31 December 2021, the recoverable amount was determined using the fair value less costs of sale. The measurement is classed as level 3 of the fair value hierarchy due to the non-observable inputs used in the measurement.

As of the measurement date of 31 December 2021 and as part of the annual review of goodwill for the CGU PLT, which was added to the group of consolidated companies in 2021, the recoverable amount was calculated as the fair value less costs of sale using the discounted cash flow method. The discount rate after tax is 7.0 %. A growth factor of 1.0 % was applied.

Based on the estimate used, the recoverable amount for the CGU PLT is approximately € 3.1 million higher than the carrying amount for valuation purposes. As the recoverable amount is close to the carrying amount, 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.

Additions of internally developed software in the reporting period mainly relate to the migration of a new terminal management system.

The obligations arising from open orders for capital expenditure on intangible assets are reported under Note 46.