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Notes to the Consolidated Financial Statements of the Enav Group 87

The carrying amount of property, plant and equipment is assessed for
impairment losses if events or changes indicate that the carrying amount
cannot be recovered. If an indication of this nature exists, and if the carrying
amount of an asset exceeds its recoverable amount, the asset is written
down to its recoverable amount. The recoverable amount of property,
plant and equipment is the higher of its fair value less costs to sell and its
value in use.

If an asset does not generate cash flows that are largely independent the
recoverable amount is determined for the cash-generating unit to which
that asset belongs. Impairment losses are recognized in profit or loss as
part of write-downs and impairment losses and are reversed when the
reasons leading to that loss no longer hold.

On the sale of an asset or if no future economic benefits are expected from
its use an asset is derecognized and any gain or loss (calculated as the
difference between the disposal proceeds and the carrying amount) is
recognized in profit or loss in the year of derecognition.

Intangible assets

Intangible assets are identifiable assets without physical substance that are
controlled by the Group and from which future economic future benefits
are expected to flow to the Group. They are recognized at purchase
cost, including any directly attributable costs required to make the asset
available for use. Intangible assets such as goodwill acquired as part of
business combinations are recognized at their fair value at the acquisition
date, if that value can be measured reliably. Internally generated intangible
assets are not capitalized and are recognized in profit or loss in the year the
related costs are incurred.

The useful life of an intangible asset may be finite or indefinite.

Intangible assets with finite useful lives are amortized on a straight-line basis
over their estimated useful lives and are tested for impairment whenever
there are indications that they may be impaired. The residual useful life
of an asset is reviewed at each year end or more frequently if necessary.
Changes to the expected useful lives of assets or the way in which the
future economic benefits associated with the asset are consumed by the
Group are recognized by changing the amortization period and/or method
and are treated as changes in accounting estimate: the amortization charge
for intangible assets with a finite useful life is recognized in profit or loss in
the cost category consistent with the function of the intangible asset.

Gains and losses on the disposal of intangible assets are determined as the
difference between the net disposal proceeds and the carrying amount of
the asset and are recognized in profit or loss on disposal.

Intangible assets with indefinite useful lives are not amortized and are
tested annually for impairment at both an individual and cash-generating