Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

Intangible assets acquired in business combinations Intangible assets acquired by the Group in business combinations are measured at their acquisition cost less any accumulated amortisation and impairment losses. They essentially include operating licences and computer software. They are depreciated on a straight line basis over their useful lives. The customer portfolio acquired from the ECS group was valued using the MEEM method (Multi-period Excess Earnings Method) at €40 ژ million and is being amortised over 20 ژ years.

The Osiatis brand, fully amortised at the end of 2018, was valued using the royalty relief method, based on percentages of forecast revenue and EBIT in line with comparable market equivalents. Useful life In ژ years

Amortisable business assets

3–5

20

ECS customer portfolio

Franchises, patents, licences

3–7

3–7

IT systems

4

Osiatis brand

The Group has no intangible assets with indefinite useful lives except for the goodwill presented in note ژ 9.

196

2019 annual report