14MB - Pirelli

EXTRAORDINARY SESSION CONSOLIDATED FINANCIAL STATEMENT SUSTAINABILITY REPORT DIRECTORS' REPORT PRELIMINARY INFORMATION
9. Intangible assets
The composition and movements in intangible assets are as follows:
(in thousands of euros)
352 PIRELLI & C. S.p.A. MILAN
12/31/2007 Exchange
differences
Discontinued
operations
Change in
the scope
of consolidation
Increase Decrease Amortization
Other 12/31/2008
Patents and intellectual
property
rights 574 - (10) 553 - - (145) (548) 424
Concessions,
licenses and
trademarks 22,356 (5) (80) (846) 6,470 (883) (2,817) 875 25,070
Goodwill 634,953 20 (86,752) (410) 462,025 (2,624) - 473 1,007,685
Software 10,442 14 (288) 599 7,615 (79) (6,841) 667 12,129
Other intangible
assets 4,215 (8) (3,508) (1,533) 594 (231) (135) 1,406 800
672,540 21 (90,638) (1,637) 476,704 (3,817) (9,938) 2,873 1,046,108
(in thousands of euros)
12/31/2006 Exchange
differences
Increase Decrease Amortization Other 12/31/2007
Patents and intellectual
property
rights 777 - - - (198) (5) 574
Concessions,
licenses and
trademarks 24,188 (5) 3,612 (3,823) (2,401) 785 22,356
Goodwill 479,734 (88) 161,399 (6,619) - 527 634,953
Software 10,117 (2) 8,337 (899) (6,438) (673) 10,442
Other intangible
assets 1,558 17 5,088 (42) (1,462) (944) 4,215
516,374 (78) 178,436 (11,383) (10,499) (310) 672,540
“Discontinued operations” refer almost entirely to the deconsolidation of Integra FM B.V.
group (formerly Pirelli RE Integrated Facility Management B.V.).
The increase in “Goodwill” mainly refers to:
—— the purchase of the 38.9 percent minority interest in Pirelli Tyre S.p.A. through the acquisition
of Speed S.p.A. (Euros 450,920 thousand, corresponding to the difference between the
price paid and the net assets acquired);
—— the purchase of the shares of the subsidiary Pirelli & C. Real Estate S.p.A. for Euros 22,064
thousand (equal to 2.8 percent of the total), resulting in further goodwill of Euros 2,407
thousand, equal to the difference between the price paid and accounting net assets;
—— the inclusion in Pirelli Real Estate Group’s scope of consolidation of certain companies in
the BauBeCon Group following the acquisition of stakes by Pirelli RE Netherlands B.V. and
Pirelli & C. Real Estate Deutschland GmbH (Euros 4,466 thousand).