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Consolidated financial statements as at December 31, 2010 Note 16 - Goodwill This item includes goodwill arising from consolidation of subsidiaries and the value of business branches purchased against payment made by some Group companies. Goodwill in 2010 developed as follows: (thousand Euros) Balance at December 31, 2009 66,047 Increase 7,465 Change in consolidation 72 Decrease (790) Balance at December 31, 2010 72,794 Increase in 2010 refers to: Riverland Solutions GmbH On August 4, 2010 Reply S.p.A. acquired the 75.016% share capital of Riverland Solutions GmbH, a German company specializing in consulting and systems integration on Oracle Applications, for an investment amounting to 8,270 thousand Euros which is composed of a cash consideration of 4,500 thousand Euros and a variable compensation of 3,770 thousand Euros to be paid following a three-year period and subordinated to achieving established economic parameters. Lem Reply S.r.l. On October 26, 2010 Reply S.p.A acquired the 100% share capital of Lem Consulting S.r.l, a company based in Genoa, specialized in the logistic and mobility sector for the realization of innovative projects, for an investment totaling 400 thousand Euros. Change in consolidation is referred to the business branches acquired against payment by Riverland Solutions GmbH and Lem Reply S.r.l. The following table summarizes the calculation of final goodwill and the value of the net assets acquired at the acquisition date. (thousand Euros) Fair value (*) Tangible and intangible goods 133 Goodwill 67 Financial assets 45 Trade receivables and other 3,086 Cash and cash equivalents 631 Financial liabilities (123) Trade payables and other (2,634) Net assets acquired 1,205 Compensation 8,670 Goodwill 7,465 (*) book value is equal to fair value. 98
Consolidated income statement Consolidated statement of comprehensive income Consolidated statement of financial position Statement of changes in consolidated equity Consolidated statement of cash flows Notes to the consolidated financial statements Annexed tables Goodwill is allocated to the Group’s cash-generating units, usually identified in a single company or in a company’s business unit. (thousand Euros) Company originating goodwill CGU/Legal entity Company originating goodwill % acquired 31/12/2010 @Logistics Reply S.r.l. @Logistics Reply S.r.l. 2000 30.0% 459 Business Reply S.r.l. Business Reply S.r.l. 2000 30.0% 160 Cluster Reply S.r.l. Cluster Nord 2000 15.0% 155 Sytel Reply S.r.l. Sytel Roma 2000 20.0% 223 Sysproject Reply S.r.l. Cluster Nord 2002 100.0% 1,665 Aware Reply S.r.l. Bitmama S.r.l. 2001 - 2003 100.0% 2,418 Blue Reply S.r.l. Blue Reply S.r.l. 2004 12.0% 285 Planet Reply S.r.l. Sytel Nord/Live 2004 20.0% 1,191 E*Finance Reply S.r.l. E*Finance Reply S.r.l. 2001 - 2005 42.0% 2,561 Eos Reply S.r.l. Eos Reply S.r.l. 2005 (*) 360 IrisCube Reply S.p.A. IrisCube Reply S.p.A. 2003 - 2005 100.0% 1,563 IrisCube Reply S.p.A. (***) Sytel Nord/Live 2003 - 2005 100.0% 5,100 Spike Reply S.r.l. Security Reply S.r.l. 2005 10.0% 298 Discovery Reply S.r.l. Discovery Reply S.r.l. 2005 (*) 210 syskoplan AG syskoplan Group 2006 63.8% 9,611 Interactiv! (**) syskoplan Group 2006 85.1% - Macros Innovation (**) syskoplan Group 2006 100.0% 4,652 Discovery sysko Gmbh (**) syskoplan Group 2006 20.0% 11 Santer Reply S.p.A. Santer 2002 - 2006 100.00% 1,062 Xuccess Consulting GmbH (**) syskoplan Group 2007 100.0% 5,195 Axcel Reply S.r.l. Aktive Reply S.r.l. 2007 100.0% 558 Axcel Reply S.r.l. Sytel Nord/Live 2007 100.0% 250 Communication Valley S.p.A. Security Reply S.r.l. 2008 100.0% 11,868 glue Reply Ltd. glue 2008 100.0% 10,772 Reply Consulting S.r.l. Reply Consulting S.r.l. 2008 44.0% 4,306 Hermes Reply S.r.l. Hermes Reply S.r.l. 2008 5.0% 116 Riverland Solutions GmbH Riverland Solutions GmbH 2010 75.0% 7,134 Lem Consuting S.r.l. Lem Reply S.r.l. 2010 100.0% 331 Other (*) 279 Total 72,794 (*) business branch acquisitions (**) syskoplan group companies (***) goodwill related to the branch transferred in Sytel Reply S.r.l. 99
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Annual Financial Report 2010
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Board of directors and controlling
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Financial highlights Economic figur
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Reply Annual Financial Report 2010
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Reply’s own Enterprise Private Cl
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same way, Reply operates on the res
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