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ENAV Group Consolidated Financial Statements

8. Intangible assets

The following table sets out changes to intangible assets for the year ended 31
December 2015:

Patents and intellectual Other Assets under Goodwill Total
property rights intangible formation

assets

Cost 111.782 2.085 41.542 66.486 221.895
Accumulated amortization (95.376) (1.760) 0 0 (97.136)
Net book value at 31.12.2014 16.406 124.759
Increases 325 41.542 66.486
Disposals 7.655 0 10.621 0 18.276
Reclassifications 0 0 0 0
Impairment losses 0 0 0 0
Amortization charge 0 0 (8.047) 0 (8.047)
Total changes 0 (530)
Cost (12.042) (325) (530) 0
Accumulated amortization (4.387) (325) 0 (12.367)
Net book value at 31.12.2015 119.437 2.085 66.486 (2.668)
(107.418) (2.085) 2.044 0 231.594
12.019 43.586 (109.503)
0 66.486 122.091
0
43.586

Intangible assets amount to € 122,091 thousand and show a decrease of € 2,668
thousand for the year, due mainly to the amortisations recorded during the year.
Patents and intellectual property rights increased by € 7,655 thousand following the
entry into operation of the user licences for management and operating systems
and for software supporting administrative systems and operating software, such
as in particular, the new airborne control planning and management system called
SAPERE, the technological development of the airborne ACS platform with the
scope of Sesar and the software for the radio TBT coverage supporting maintenance
services in the ATCs.
Intangible assets under construction amount to € 43,586 thousand and showed a
net increase in the year of € 2,044 thousand. They mainly include the following
investment projects: i) the NOAS (New Operational Area System) programme, to
optimise the systems already developed by the Parent Company with the Airnas
and Athena programmes aimed at maintaining Single European Sky certification and
to integrate the Ais and Meteorological databanks; ii) the monitoring and analysis
system called AIDA; iii) the upgrade of the remedy platform. Reclassifications for a
net amount of 8,047 thousand refer largely to projects completed in the period and
reclassified to specific captions for € 7,655 thousand, for € 57 thousand reclassified
to this caption for projects initially classified as property, plant and equipment and
for € 449 thousand charged to the Income Statement for projects that did not meet
the requirements to be capitalised as intangible assets.

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