22. Intangible Assets

In the Container segment, goodwill of € 35,525 thousand is attributable to the cash-generating unit (CGU) CTT/Rosshafen and further goodwill of € 1,893 thousand is attributable to the CGU HCCR. Of the CGU CTT/Rosshafen’s goodwill, € 30,929 thousand was generated by the acquisition of all the shares in HHLA Rosshafen Terminal GmbH, Hamburg, in 2006. Goodwill is primarily derived from additional strategic options to expand the Group’s handling activities at the sites let long-term by the company.

In the period for which detailed forecasts are made, cash flows are largely determined by developments in the operating result (EBIT). Developments in EBIT result from anticipated volumes and income along with the relevant cost structure. The cost structure is primarily determined by the level of capacity utilisation achieved and the technology used.

For the CGU CTT/Rosshafen, the recoverable amount is calculated as fair value less selling costs using the discounted cash flow method. The discount rate after tax is 4.62 % (previous year: 4.97 %). Growth factors of 1.0 % (previous year: 1.0 %) were applied.

Based on the estimate used, the recoverable amount for the CGU CTT/Rosshafen is approximately € 30 million higher than the carrying amount for valuation purposes. As the recoverable amount is close to the carrying amount for valuation purposes, the management considers it possible that there could be a change in material assumptions which would lead to the carrying amount exceeding the recoverable amount.

The overview below shows the necessary change in the various material valuation parameters which would lead to the recoverable amount being the same as the carrying amount.