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LISI 2011 —
53
— financial report
Consolidated financial statements
2.5.3.1 Capital stock
Capital stock at year-end stands at €21,572,988, broken down into
10,786,494 issued shares with a face value of €2. No change has been
recorded compared to December 31, 2010.
2.5.3.2 Capital-related premiums
Additional paid-in capital is broken down as follows:
Particulars of capital-linked premiums
(In €’000)
2011
2010
Additional paid-in capital
53,062
53,062
Contribution premiums
15,030
15,030
Merger premiums
2,711
2,711
Total
70,803
70,803
2.5.3.3 Capital management
The Group’s policy consists in maintaining robust capital so as to
preserve the confidence of shareholders and investors, support
growth and withstand periods of recession. The Board of Directors
is particularly attentive to capital returns and the dividends paid to
shareholders.
Instruments which provide access to the company’s capital relate to
the benefits conferred on managers and employees under certain
conditions, as set out in notes 2.6.9 and 2.7.2.
2.5.3.4 Dividends
The amount of (unrecognized) dividends for the 2011 financial year
submitted to the Shareholders’ General Meeting on April 26, 2012 for
approval breaks down as follows:
Amount in €m
2011
2010
Total net dividend
14.0
10.9
This estimate is based on dividend-bearing shares as of the date of the
Board meeting held February 15, 2012, or 10,786,494 shares.
The amount of (unrecognized) dividends for the 2011 financial year
submitted to the Shareholders’ General Meeting on April 26, 2012 for
approval breaks down as follows:
Dividend per share in €
2011
2010
Dividend per share
1.30
1.05
2.5.4 Provisions
2.5.4.1 Changes in provisions break down as follows:
(In €’000)
At
January 1,
2010
Provisions
(net of
reversals)
At
December 31,
2010
Provisions Reversals
(amounts
used)
Reversals
(non used
amounts)
Reclassifications Entry into/
exit from
consolidation
scope
Translation
differential
At
December 31,
2011
Pensions and retirement
14,775 2,544
17,319 3,203 (1,279)
214
1,868
157
21,483
Long-service medals
3,044
3,044
211
(60)
26
199
3,420
Environment-related risks
7,682
107
8,554 2,675 (1,384)
(250)
1,115
107
10,817
Disputes and other risks
1,852 1,612
3,464
699
(634)
(378)
60
2,384
(1)
5,594
Guarantees to clients
3,022
523
3,599 1,004
1,257
10
5,870
Restructuring
1,200
1,200
(1,200)
Industrial reorganization
1,000
1,000
(350)
(500)
150
For taxes
29
814
843
843
Sub-total long-term provisions
27,360 10,844
39,023 7,792 (3,707)
(2,328)
300
7,423
273
48,177
For loss on contract
600
600
Industrial reorganization
2,219 1,660
3,879
(914)
(561)
(1,082)
2
1,325
Restructuring
1,931
1,931 1,622 (1,931)
600
2,222
Environment-related risks
351
351
37
(109)
54
333
Long-service medals
26
26
(26)
Disputes
1,301 (332)
974
97
(970)
60
161
For taxes
26
455
481
(6)
(225)
6
256
Other risks
2,125 5,105
7,590 6,693 (5,793)
(930)
1,082
1,204
(6)
9,840
Sub-total short-term provisions
5,671 9,196
15,232 8,449 (8,753)
(2,686)
(26)
1,924
(4)
14,737
Grand Total
33,031 20,040
54,255 16,241 (12,460)
(5,014)
274
9,347
269
62,914
Of which as current operating
profit
13,619 (12,216)
(4,451)
Of which as non-current operating
profit
2,622
(244)
(563)