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LISI 2011 —
77
— financial report
Company financial statements
3.2.4 Marketable securities and cash
3.2.4.1 Marketable securities
As at December 31, 2011, marketable securities were as follows:
(In €’000)
378,804 LISI stocks *
14,576
SICAV and deposit certificates
49,869
Giving a gross total of
64,445
* 378,804 shares held, thanks to the option of buying back the company’s own shares
up to a 10% limit, including those held under the market-making contract.
The item “Marketable securities” essentially comprises money market
funds for €22.5m and guaranteed-capital investments for €27.4m.
The total net asset value of marketable securities stood at €22.5m as
at December 31, 2011.
3.2.4.2 Cash
This item is solely composed of bank balances.
3.2.4.3 Cash and Net Financial debt
(In €’000)
2011
2010
2009
Subsidiaries’ current accounts
149,655
40,224
41,925
Marketable securities
64,445
73,580
79,330
Cash
2,111
798
720
Cash available [A]
216,211
114,602
121,975
Subsidiaries’ current accounts [B]
53,036
54,621
75,828
Banking facilities for operations [B]
1,948
1,986
2,108
Net cash [A – B]
161,227
57,995
44,039
Borrowings and debt
122,383
45,273
50,300
Debt [C]
122,383
45,273
50,300
Net debt [D = C + B – A]
(38,844)
(12,722)
6,261
3.2.4.4 Inventory of marketable securities
a) Shares
(In €’000)
Gross book values
Provisions
Net book values
Equity interests
French companies
124,500
124,500
Foreign companies
Total equity interests
124,500
Securities held for sale
French companies
10
8
1
Foreign companies
Total marketable securities
10
8
1
b) Marketable securities
(In €’000)
Gross book values
Provisions
Net book values
Treasury stock
14,576
14,576
SICAV and deposit certificates
49,869
44
49,825
Total marketable securities
64,445
44
64,401