IX. Other intangible assets

Other intangible assets

"Concessions, licenses, brands and similar rights" at 31 December 2008 consist mainly of the amounts determined upon fair-value measurement of the assets and liabilities acquired with Aldeasa and WDFE, in accordance with IFRS 3. Specifically, the Group has recognised:

  • contractual rights of €98,500k, determined by comparing the terms and conditions of existing sub-concession contracts with those prevailing in the market for comparable arrangements, and discounting any difference found as the basis for valuation. These rights are amortised across the duration of the contract and for 2008 amount to €16,210k;

Intangible assets


Property, plant and equipment

Property, plant and equipment

* The balance shown for "Other movements" refers to the reclassification from "Assets held for sale" to "Industrial and non-industrial land and buildings" of properties held by the Spanish units that are no longer up for sale, and the reclassification from "Industrial and non-industrial land and buildings" to "Assets held for sale" of properties held by the Swiss units that will be sold in the coming year

  • tradenames, in the amount of €107,971k (£102,843k). Fair value was measured using the premium profits method, which discounts the differential income that the intangible asset is able to produce for its owner.
    That income is determined by estimating the specific benefits (higher margins/lower costs) that the intangible can theoretically provide to its owner with respect to the normal situations of competitors unable to use it. A tradename's useful life is estimated at 20 years; amortisation in 2008 came to €3,599k (£3,428k);
  • the value of a brand, for €876k (£834k), whose fair value was estimated using the relief from royalty method.

The increase on a currency-adjusted basis would have been €200,917k.
"Other" intangible assets have finite useful lives and are therefore amortised over their respective useful lives.