Econocom - 2020 annual report

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 depreciatedon a straight linebasis 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 million and is being amortised over20 years. Useful life In years

3 – 5

Amortisable business assets

20

ECS customer portfolio

3 – 7 3 – 7

Franchises, patents, licences

IT systems

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

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2020 annual report