62
I LISI FINANCIALREPORT2013
CONSOLIDATEDFINANCIALSTATEMENTS
3
n
Examination of transactions with related parties in respect of
guaranteesorothercommitmentsgivenorreceived;
n
Ingeneral, reviewofallcontractsandcontractualcommitments.
2.7.4.1Commitmentsgiven in thecontextofordinaryoperations
Inaddition to theoperating leaseswhoseannual chargesarepresented
inNote2.5.1.2, commitmentsprovidedaspartof currentactivitiesareas
follows:
(In€ '000)
2013
2012
Balanceof investmentorders
50,158
50,557
Trainingentitlements
5,610
5,533
Guaranteesanddeposits
83
174
Commitmentsmade
55,852
56,264
Rateswap
56,491
79,400
Foreignexchangehedging
97,084
79,717
Reciprocalcommitments
153,575
159,117
Reciprocal commitments:
Reciprocalcommitmentsare interestrateswapstohedgevariablerate loans (cf.Note2.5.6.1.FinancialDebt) takenoutto fundexternalgrowth.
AtDecember31,2013, the featuresoftheswapcontractswereas follows:
Notional as at 12/31/2013
Face amount
In€'000
Departure
date
Maturitydate Rate payer
Rate receiver Net present value
in€'000
LISIS.A.
10,000
02/06/2009
02/06/2014
2.7800% Euribor3months
(65)
LISIS.A.
15,000
09/30/2011
09/30/2016
2.0730% Euribor3months
(207)
LISIS.A.
5,000
09/30/2011
09/30/2016
1.5900% Euribor3months
(50)
LISIS.A.
4,750
12/30/2011
12/30/2016
1.3925% Euribor3months
(41)
LISIS.A.
9,500
06/29/2012
03/31/2017
1.0750% Euribor3months
(71)
LISIS.A.
15,000
05/31/2012
05/31/2017
1.0700% Euribor2months
(199)
LISIAUTOMOTIVEFormer
7,000
12/31/2010
12/29/2017
1.7450% Euribor3months
(101)
SeignolHugueny
4,500
09/28/2012
09/30/2024
1.3000% Euribor3months
42
CreuzetAeronautique
3,900
07/31/2012
07/31/2020
0.7750% Euribor1month
4
Total
(688)
AtDecember 31, 2013, foreignexchangehedging instrumentsunexpired
atDecember31,2013werethe following:
12/31/13
12/31/12
(In '000)
Currency
EUR
Currency
EUR
GBP
21,300
25,549
18,000
22,056
CAD
48,100
32,786
17,700
13,473
TRY
25,550
8,630
18,230
7,741
PLN
13,200
3,177
26,400
6,480
CZK
192,000
7,000
-
-
USD
27,501
19,941
39,538
29,966
97,084
79,717
2.7.4.2Commitments receivedaspartofacquisitionsofcompanies
LISIAUTOMOTIVE :
n
In thecontextof the takeoverof thesitesofAcumentLaFertéFresnel,
LISI AUTOMOTIVE was awarded by TEXTRON a guarantee to cover
environmental risks likely to threatena sitewithno industrial activity
todate.
2.7.4.3GuaranteesgivenaspartofthedivestitureofLISICOSMETICS
As part of the divestiture of LISI COSMETICS, a commitment for
compensation was granted in favor of the buyer concerning any
reassessments from the tax or environmental authorities during a
periodof twoyearswitheffect from thedateofdivestiture, subject toa
deductibleof €500k, toexceedingaminimum thresholdof €35kand to
anupper limitof€6m.
