168
Consolidated Financial Statements
On 31 December 2012, the group’s concessions, territo-
rial rights and related lifetime are shown below:
Termina-
tion Date
Territorial Rights
N.º of
years
Pans & Company
10 2016
Burger King
20 2021
Termina-
tion Date
Concession Rights
N.º of
years
Lusoponte Service Areas
33 2032
Expo Marina
28 2026
Repsol Service Area - 2ª Circular
18 2017
Fogueteiro Service Area
16 2015
Portimão Marina
60 2061
A8 Torres Vedras (motorway)
Service Area
20 2021
Airport Service Area
20 2021
Pizza Hut Setúbal
14 2017
Pizza Hut Foz
10 2020
Pizza Hut and Pasta Caffé Cais Gaia
20 2024
A5 Oeiras (motorway) Service Area
12 2015
Modivas Service Area
28 2031
Barcelos Service Area
30 2036
Guimarães Service Area
30 2036
Fafe Service Area
30 2036
Alvão Service Area
30 2036
Lousada (Felgueiras) Service Area
24 2030
Vagos Service Area
24 2030
Aveiro Service Area
24 2030
Ovar Service Area
24 2030
Gulpilhares Service Area
24 2030
Talhada (Vouzela) Service Area
25 2031
Viseu Service Area
25 2031
Paredes Service Area
26 2032
Maia Service Area
26 2032
Goodwill is broken down into segments, as shown
bellow:
Dec-12
Dec-11
Portugal
9,464,021 10,000,021
Spain
32,903,527 32,903,527
Angola
130,714 130,714
42,498,262 43,034,262
Goodwill on the Spain segment refers mainly to the pur-
chase of the subsidiaries Lurca and Vidisco.
The main assumptions used in Impairment tests are de-
tailed as follow:
Perpetuity growth rate
Portugal
3.00% (1% real + 2% inflation)
Spain
3.00% (1% real + 2% inflation)
Perpetuity discount rate
Portugal
6.78%
Spain
6.15%
Discount period rate
Portugal
8.87%
Spain
7.25%
The presented pre-tax discount rate was calculated on
the bases of WACC (Weighted Average Cost of Capital)
methodology.
Based on the impairment tests performed, there was no
need to make adjustments in Goodwill.
