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INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2020

Finite-Lived Intangible Assets, Net [Abstract]

INTANGIBLE ASSETS, NET

NOTE 9 - INTANGIBLE ASSETS, NET

		US dollars
		December 31, 2018				Year ended December 31, 2019																December 31, 2019
(in thousands)		Opening balance				Impairment (*)				Amortization				Additions				Translation differences				Closing balance
Costumer relationship			24,133				(10,914	)			(4,112	)			-				-				9,107
Technology			12,100				(2,948	)			(2,549	)			6,436				14				13,053
Others			4,215				-				(1,229	)			1,333				(158	)			4,161
			40,448				(13,862	)			(7,890	)			7,769				(144	)			26,321

		US dollars
		December 31, 2019				Year ended December 31, 2020																December 31, 2020
(in thousands)		Opening balance				Impairment (**)				Amortization (***)				Additions				Translation differences				Closing balance
Costumer relationship			9,107				(3,661	)			(2,115	)			-				-				3,331
Technology			13,053				-				(2,871	)			2,992				243				13,417
Others			4,161				-				(896	)			-				(631	)			2,634
			26,321				(3,661	)			(5,882	)			2,992				(388	)			19,382

(*)	Due to the decline in the results of Road Track (See Note 3) and the current expectation of management for further potential decrease in Road Track anticipated performance, the company performed on December 31, 2019, an impairment analysis of the intangible assets which relate directly to the operation of Road Track. Based on such analysis the company recorded an impairment charge further described below:

	In order to determine the fair value of such intangible assets, the Company, based on a valuation performed by the management, with the assistance of a third-party appraiser, utilized the "Relief from Royalties" valuation method. Accordingly, certain assumptions and judgments were made in order to determine the future income from which royalties will be derived from and in order to determine the appropriate rate of royalties and rate of discount.

	As a result of the above, the Company recorded, an impairment loss in an amount of US$ 10,914 thousand, with respect to Costumer relationship and an amount of US$ 2,948 thousand, with respect to Technology. totaling an aggregate impairment charge of US$ 13,862, that was recorded under "impairment of intangible assets and other expenses" in the consolidated statement of income. See also Note 1N.

(**)	Due to the decline in the results of Road Track (See Note 3) and the current expectation of management for further potential decrease in Road Track anticipated performance, the company performed on June 30, 2020, an impairment analysis of the intangible assets which relate directly to the operation of Road Track. Based on such analysis the company recorded an impairment charge further described below:

	In order to determine the fair value of such intangible assets, the Company, based on a valuation performed by the management, with the assistance of a third-party appraiser, utilized the "Relief from Royalties" valuation method. Accordingly, certain assumptions and judgments were made in order to determine the future income from which royalties will be derived from and in order to determine the appropriate rate of royalties and rate of discount.

	As a result of the above, the Company recorded, an impairment loss in an amount of US$ 3,661 thousand, with respect to Costumer relationship, that was recorded under "impairment of intangible assets and other expenses" in the consolidated statement of income. See also Note 1N.

(***)	As of December 31, 2020, the estimated aggregate amortization of intangible assets for the next five years is as follows: 2021- US$ 5,236 thousand, 2022- US$ 5,088 thousand, 2023- US$ 3,712 thousand, 2024- US$ 3,050 thousand and 2025 – US$ 2,296 thousand.