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16 Intangible assets

 
 30-Jun-201231-Dec-2011Changes
Industrial patent rights and know-how 29,90330,761(858)
Licenses, trademarks and similar rights50,07353,976(3,903)
Public services under concession1,484,0911,487,399(3,308)
Work in progress and advance payments for public services under concession178,032156,16421,868
Work in progress and advance payments34,71341,892(7,179)
Other36,87832,3294,549
Total1,813,6901,802,52111,169

Intangible fixed assets are stated net of their accumulated amortisation and are broken down below with details of the changes during the year:

 Industrial patent rightsConcessions, licences, trade marks and similar rightsPublic services under concessionIntangible assets in progress and adv.payments on public services under conc.Investments in progress and advances OtherTotal Intangible Assets
PURCHASE COST       
Balance as at 31.12.2010165,669238,7161,849,943139,61433,82871,4622,499,232
Increases  1,5109911,42849,6395,3832,43370,492
Disinvestments                              -                                -                         -                                        -                          -( 4,570)( 4,570)
Changes in scope of consolidation                             -                                -898                                        -                          -                  -898
Restatements and other changes  6,062( 31,571)46,813( 16,083)( 6,060)646( 193)
Balance as at 30.06.2011173,241207,2441,909,082                            173,17033,15169,9712,565,859
ACCUMULATED DEPRECIATION       
Balance as at 31.12.2010135,284157,939433,132                                        -                          -44,379770,734
Depreciation for the period7,9145,91134,631                                        -                          -2,36150,817
Disinvestments                              -                                -                         -                                        -                          -( 1,793)( 1,793)
Changes in scope of consolidation                             -                                -                         -                                        -                          -                  -                      -
Restatements and other changes                               -( 15,712)15,593                                        -                          -( 27)( 146)
Balance as at 30.06.2011143,198148,138483,356                                        -                          -44,920819,612
Net value       
As at 31 December 201030,38580,7771,416,811                            139,614                33,82827,0831,728,498
As at 30 June 201130,04359,1061,425,726173,17033,15125,0511,746,247
        
PURCHASE COST       
Balance as at 31.12.2011183,937207,7112,006,908156,16441,89281,5232,678,135
Increases9083978,59846,7005,6321,21363,448
Disinvestments( 32)                                -                         -                                        -                          -( 530)( 562)
Changes in scope of consolidation                             -                                -                         -                                        -                          -252252
Restatements and other changes4,682( 297)25,135( 24,832)( 12,811)5,963( 2,160)
Balance as at 30.06.2012189,495207,8112,040,641                            178,03234,71388,4212,739,113
ACCUMULATED DEPRECIATION        
Balance as at 31.12.2011153,176153,735519,509                                        -                          -49,194875,614
Depreciation for the period 6,4344,27536,661                                        -                          -2,79550,165
Disinvestments( 18)                                -                         -                                        -                          -( 476)( 494)
Changes in scope of consolidation                             -                                -                         -                                        -                          -               3030
Restatements and other changes                             -( 272)380                                        -                          -                  -108
Balance as at 30.06.2012159,592157,738556,550                                        -                          -51,543925,423
Net value       
As at 31 December 201130,76153,9761,487,399                            156,164                41,89232,3291,802,521
As at 30 June 201229,90350,0731,484,091178,03234,71336,8781,813,690

The breakdown and main changes within each category are commented on below.

"Industrial patents and know-how", totalling EUR 29,903 thousand relates mainly to costs incurred for the purchase and implementation of IT systems SAP R/3 ECC6 and related applications. These costs are amortised over five years.

"Concessions, licences, trademarks and similar rights", amounting to EUR 50,073 thousand, mainly includes the value of the rights held by the Parent Company Hera Spa in relation to the gas, water and purification plants. The decrease in this item is due to the transfer from "Concessions, licences, trademarks and similar rights" to "Public services under concession" of assets related to the purification services in the Municipality of Monte San Pietro, as provided under the related contracts on reaching the expiry dates of said concessions and partly by the amortisation rate for the period.

"Public services under concession", equal to EUR 1,484,091 thousand, made up of the assets relating to the gas, water, purification, sewerage, and public lighting businesses throughout the entire territory managed by the Hera Group, and the electricity distribution business in the Imola area only. The assets mainly relate to distribution grids and networks and plants. This item also includes costs for improvement to said assets, receivables due from the asset-owning companies, as well as reclassifications of amounts from the item "Concessions, licences, trademarks and similar rights" following the expiry of the aforementioned concession related to the Municipality of Monte San Pietro.

"Intangible assets under construction and advance payments for public services under concession", amounting to EUR 178,032 thousand, relate to said assets detailed above which are still to be completed as at the end of the period.

"Work in progress and advance payments", equal to EUR 34,713 thousand, essentially comprise still incomplete IT projects.

The item "Other", equal to EUR 36,878 thousand, mainly relates to other sundry long-term charges, rights of use of networks and infrastructures for the passage and laying of optical fibre telecommunication networks. These also include the costs incurred for applications for AIA (Integrated Environmental Authorisation) certification of the WTE plants and landfills.

Item "Change in scope of consolidation", equal to a net value of EUR 222 thousand, is entirely attributable to the portion pertaining to the Group of "Other intangible fixed assets" resulting to the merger of the companies Amon Srl, Esole Srl, Juwi Sviluppo Italia - 02 Srl e CTG Ra Srl into Hera Energie Rinnovabili, in effect as from 1 January 2012.

The above operations are commented on in the section "Change in the scope of consolidation" in these notes.

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