Consolidated financial statements
1
3
50
I
LISI 2014FINANCIALREPORT
Thediscountingratesaftertaxeswereusedonthebasisofanassessmentofthespecificrisksofthesebusinesses.
December 31, 2014
December 31, 2013
Infinite
growth rate
Discount
rate
Infinite
growth rate
Discount
rate
LISIAEROSPACE
USAunit
2%
7.42%
2%
7.50%
Specialproducts
2%
7.42%
2%
7.50%
Structural components
2%
7.42%
2%
7.50%
LISIAUTOMOTIVE
Threaded fasteners
1.90%
8.72%
1.90%
8.75%
Clippedsolutions
1.90%
8.72%
1.90%
8.75%
LISIMEDICAL
LISIMEDICAL
2%
7.51%
2%
7.75%
Sensitivity tests for the assumptions retained were undertaken
and related to the major indicators factoring into these value tests:
discounting rates and growth rates to infinity are elements which
contributetothecash flows.Thesesensitivitytestsshowedthatthe limit
betweenthevalue inuseandthenetasset isattained forthevariation in
thesecalculationparameters:
December 31, 2014
Discount rate
Perpetuity growth rate Cash flow EBITDA rate
Rate
used
(as
a%)
Increase in
the discount
rate necessary
so that the
recoverable
amount is equal
to the book
value (in points)
Rate
used
(as
a%)
Decrease in
infinite growth
rate necessary
so that the
recoverable
amount is equal
to the book value
(in points)
Decrease in
cash flows
necessary
so that the
recoverable
amount is
equal to the
book value
(in%)
Rate
used
(as
a%)
Decrease in
the EBITDA
rate necessary
so that the
recoverable
amount is
equal to the
book value
(in points)
LISIAEROSPACE
Undisclosedbecauseof itsunderlying
confidentialnature
USAunit
7.42%
854
2% (1400)
(62%)
(1,140)
Specialproducts
7.42% 3426
2% (160060)
(86%)
(3,030)
Structural components
7.42%
29
2%
(44)
(6%)
(50)
LISIAUTOMOTIVE
Threaded fasteners
8.72%
108
1.90% (180)
(14%)
(130)
Clippedsolutions
8.72%
35
1.90%
(52)
(5%)
(60)
LISIMEDICAL
LISIMEDICAL
7.51%
48
2%
(60)
(8%)
(96)
