IBERSOL | Annual Report 2020

Consolidated Financial Statements Dec 2020 Unit Recoverable amount (use value) Assets account value Impairment losses Eatout (CFU) 30.630.919 34.973.215 4.342.296 Vidisco (CFU) 0 3.116.287 3.116.287 Total 30.630.919 38.089.502 7.458.583 Results of impairment tests: In 2020, the tests performed resulted in the need to record an impairment in the amount of 7,458,583 Euros in goodwill, as follows: In 2020, following the decision not to reopen nine Pizza Móvil restaurants in Spain, there was a need to constitute impairment for the total amount of 3.1 million Euros in goodwill (restaurants). Given the expectations of recovery of air traffic in Europe, which have been aggra- vated by the delay in vaccination processes against Covid-19, the group adjusted Travel projections to the new forecasts of airspace regulators, considering a sce- nario more delayed in the recovery of traffic at airports, following the successive projections that have been disseminated by specialist entities in the aviation sector. In addition, given the uncertainty regarding the final outcome of the negotiations with the airport concessionaire in Spain, the group also considered an additional risk for this business, with the consequent worsening of the discount rate, which led to the recognition of the aforementioned impairment, in the € 4,342,296 to Travel’s goodwill. The additional analyses of signs of impairment and revision of the projections did not result in the determination of more impairment losses to be recognized. Sensitivity analysis: In the current climate of uncertainty, the assumptions used are sensitive to changes in macroeconomic indicators and to the business assumptions used by manage- ment. Considering the uncertainties regarding the goodwill recovery value due to the fact that they are based on the best information available at the date, changes in the assumptions could result in impacts in determining the level of impairment and, consequently, in the results. From the sensitivity analysis performed, with an increase of 0.5% in the discount rate used for each of the segments, it would lead to an additional impairment to be recognized at the level of goodwill of travel in Spain of approximately 2.8 million Eu- ros. The conclusion does not change in terms of the recoverability of the remaining goodwill value. 358