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17 Goodwill

 
 30-Jun-1231-Dec-11Changes
Goodwill    321,168 320,972 196
Goodwill from consolidation procedure 56,73556,788 (53)
Total377,903377,760143

The main values are as follows:

  • residual goodwill from the 2002 integration resulting in the creation of Hera Spa, EUR 81,258 thousand;
  • goodwill relating to the integration of Agea Spa in 2004, for EUR 41,659 thousand. Said goodwill represents the additional value of the purchase cost compared to the fair values of the Group's portion of assets and liabilities recorded. In particular, with regard to the fair value of Hera Spa shares issued following the increase in capital for the merger by incorporation of Agea spa, in accordance with IFRS 3 the share value was calculated as at the effective date control was taken of Agea Spa (1 January 2004);
  • goodwill and goodwill from consolidation procedure, related to the integration operation of the Meta Group, EUR 117,686 thousand. This goodwill, entered in assets and initially measured at cost, represents the additional value of the purchase cost compared to the fair value of the assets and liabilities recognised for the Group. Specifically, with regard to the current value of Hera Spa shares issued following the increase in capital to service the merger by incorporation of Meta Spa, this value was calculated as at the end of 2005, accepted as the effective date that control was taken of Meta Spa;
  • goodwill relating to the merger of Geat Distribuzione Gas Spa into Hera Spa. This goodwill of EUR 11,670 thousand represents the excess purchase cost over and above the fair value of assets and liabilities recognised for the Group as at 1 January 2006 (the date at which effective control was taken by Hera Spa);
  • goodwill relating to the merger of Sat Spa. This goodwill of EUR 54,883 thousand represents the excess acquisition cost over and above the fair value of the assets and liabilities recognised for the Group. Specifically, with regard to the fair value of the Hera Spa shares issued following the increase in capital from the merger by incorporation of Sat Spa, this value was determined referring to 1 January 2008, date at which the transaction was actually concluded.

 

The increase, compared to the previous year, is due to the acquisition, by Geosat Srl, of the business branch for the "supply of connections to the internet network through the broad band wireless connection" within the territories of some municipalities of the Romagna region.

The main "goodwill from consolidation procedure" arises from the following companies consolidated on a line by line basis:

  • Marche Multiservizi Spa, EUR 20,790 thousand;
  • Hera Comm Marche Srl, EUR 4,565 thousand;
  • Medea Spa, EUR 3,069 thousand;
  • Asa Scpa, EUR 2,789 thousand;
  • Hera Luce Srl, EUR 2,328 thousand;
  • Gastecnica Galliera Srl, EUR 2,140 thousand;
  • Nuova Geovis Spa, EUR 1,775 thousand.

 

The decrease, compared to the previous year, is due to the change in the consolidation method of the company FlameEnergy Trading Gmbh, as shown in the section on the scope of consolidation in these Explanatory Notes. Goodwill is now included in the value of the related equity investment (see note 19 "Equity investments").

The remaining goodwill and goodwill from consolidation procedure items refer to minor operations.


 

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