Tiscali 2012 Annual Report Download - page 82
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Annual financial report as at 31 December 2012
Date File Name Status Page
-
Annual Report as at 31
December 2012 82
The result of the impairment test, both for CGU Italy and the Group, shows a considerably positive
difference between the recoverable value and book value, thus the company feels that it is not
necessary to write down any of its assets.
(iii) Sensitivity analysis of the impairment test result
In consideration of the current scenario and the results of the impairment tests performed for the
year ended 31 December 2012, an analysis was made on the sensitivity of the recoverable value
estimated using the discounted cash flow method. The discount rate is considered a key
parameter in the estimate of recoverable value. An increase of 1% would lower the positive
difference between estimated recoverable value and book value. This difference would continue
to be considerably positive.
(iv) Considerations on the presence of external impairment indicators
Considering the current market situation, certain considerations on the presence of external
impairment indicators were made especially with regard to evidence from the financial market. For
that purpose, the market capitalization of the Tiscali Group does not give rise to elements
departing from the results of the impairment tests.