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are aggregated so that the level at which impairment is tested reflects the lowest level at which goodwill is mon-
itored for internal reporting purposes. Goodwill acquired in a business combination is allocated to the groups of
CGUs that are expected to benefit from the synergies of the combination.

An impairment loss in respect of goodwill is not reversed. In respect of other assets, impairment losses rec-
ognised in prior years are assessed at each reporting date for any indications that the loss has decreased or no
longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the
recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not
exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impair-
ment loss had been recognised.

3.14 Discontinued operations

The Group presents discontinued operations in a separate line in the consolidated income statement if an entity
or a component of an entity has been disposed of or is classified as held for sale and:
a. Represents a separate major line of business or geographical area of operations;
b. Is part of a single co-ordinated plan to dispose of a separate major line of business or geographical area of
operations; or
c. Is a subsidiary acquired exclusively with a view to resale (for example, certain private equity investments).

Net profit from discontinued operations includes the net total of operating profit and loss before tax from oper-
ations, including net gain or loss on sale before tax or measurement to fair value less costs to sell and discontin-
ued operations tax expense. A component of an entity comprises operations and cash flows that can be clearly
distinguished, operationally and for financial reporting purposes, from the rest of the Group´s operations and
cash flows. If an entity or a component of an entity is classified as a discontinued operation, the Group restates
prior years in the consolidated income statement.

Non-current assets, or disposal groups comprising assets and liabilities, that are expected to be recovered
primarily through sale or distribution rather than through continuing use, are classified as held for sale or distri-
bution. Immediately before classification as held for sale or distribution, the assets, or components of a disposal
group, are re-measured in accordance with the Group’s accounting policies. Thereafter generally the assets, or
disposal group, are measured at the lower of their carrying amount and fair value less costs to sell. Any impair-
ment loss on a disposal group is allocated first to goodwill, and then to the remaining assets and liabilities on pro
rata basis, except that no loss is allocated to inventories, financial assets, deferred tax assets, employee benefit
assets, investment property or biological assets, which continue to be measured in accordance with the Group’s
accounting policies.

Impairment losses on initial classification as held for sale or distribution and subsequent gains and losses on
re-measurement are recognised in the income statement. Gains are not recognised in excess of any cumulative
impairment loss.

Once classified as held for sale or distribution, intangible assets and property, plant and equipment are no longer
amortised or depreciated, and any equity-accounted investee is no longer equity accounted.

3.15 Non-current assets (or disposal groups) held for sale

Non-current assets (or disposal groups) are classified as assets held for sale when their carrying amount is to be
recovered principally through a sale transaction and a sale is considered highly probable. They are stated at the
lower of carrying amount and fair value less costs to sell.

Investment property classified as non-current asset held for sale are measured at fair value, gain or loss arising
from a change in the fair value of investment property is recognised in income statement for the year in which it
arise.”

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