Fiven Annual Report 2020

Note 17 Impairment assessments For impairment testing goodwill and other intangible assets acquired through business combinations and licences with indefinite useful lives are allocated to the Norway, Brazil and Belgium CGUs, which are also operating and reportable segments. Carrying amount of goodwill and intangible assets allocated to each of the CGUs: Amounts in EUR thousand Fiven Norway Fiven Brazil Fiven Belgium Total segment reporting Goodwill 5,390 - - 5,390 Technology 4,794 - - 4,794 Trademark 6,848 - - 6,848 Customer relationships 1,525 762 254 2,542 Other intangible assets 784 279 8 1,071 As of 31 December, 2020 19,341 1,041 262 20,644 Fiven group has material non-current assets in the form of both tangible (property, plant and equipment) and intangible assets. The assets are routinely monitored and if there are indications that the value of an asset is no longer recoverable, an impairment test is carried out. Goodwill and intangible assets with an indefinite useful life are not amortized on a regular basis. These assets are therefore tested at least annually for impairment. If any such indication exists, the recoverable amount of the asset or the Cash Generating Unit (CGU) including goodwill, is estimated in order to determine the extent of the impairment loss. The recoverable amount is the higher of fair value less costs of disposal and value in use. Through the acquisition from Saint-Gobain Group in May 2019 Fiven group acquired the following intangible assets with an indefinite useful life: Trademark 6,848 TEUR. Goodwill resulting from the acquisition amounted to 5,390 TEUR. Judgements and estimates Discounted cash flow models are applied to determine the value in use for the cash-generating units. The test process involves identifying expected cash flows relating to the assets and discounting the cash flows to arrive at an estimated value. Future cash flows are based on specific assumptions and plans adopted by the company. If the discounted cash flow is lower than the capital employed, the assets are written down to the recoverable amount. Key assumptions used in the calculation of value in use are growth rate, EBITDA levels, capital expenditure and discount rates. Growth rates: The expected growth rates are based on its current level experienced over the last few years, to long term-growth level in the marked in which the Group operates. Growth Fiven Norge 1,8% Fiven Brazil 1,8% Fiven Belgium 1,8% Fiven Annual Report 2020 56   Financial statements