Consolidated financial statements
1
3
LISI 2014FINANCIALREPORT
I
55
2.5.2Currentassets
2.5.2.1 Inventories
(in€'000)
Raw
materials
Tools and other
procurements
Work in
progress
Finished and
intermediary
products
Goods
TOTAL
GrossvalueatDecember31,2013
54,189
10,066
108,316
100,956
19,395
292,922
Scopechanges
6,988
5,157
31,487
8,169
0
51,801
-ofwhich increases
7,352
5,157
31,518
8,169
0
52,196
-ofwhichreductions
(364)
0
(31)
0
0
(395)
Exchange ratespreads
696
144
2,134
3,063
429
6,466
Changes in inventory
7
2,817
2,702
(770)
3,166
7,922
Reclassifications
39
216
(38)
(217)
0
0
GrossvalueatDecember31,2014
61,919
18,399
144,601
111,201
22,990
359,110
ImpairmentatDecember31,2013
11,336
1,536
4,267
15,736
1,871
34,746
Scopechanges
1,118
1,280
4,072
1,951
0
8,421
-ofwhich increases
1,118
1,280
4,072
1,951
0
8,421
-ofwhichreductions
0
0
0
0
0
0
Reserveallowance for impairment
1,611
313
2,364
6,196
1,624
12,108
Provision reversal for impairment
(2,094)
(850)
(3,851)
(4,775)
(2,459)
(14,029)
Exchange ratespreads
165
3
170
447
91
876
Reclassifications
(4)
267
13
(9)
(267)
0
ImpairmentatDecember31,2014
12,132
2,549
7,035
19,546
860
42,122
NetvalueatDecember31,2014
49,787
15,850
137,566
91,655
22,130
316,989
ThescopemovementsconcerntheentryoftheManoirGroup in June2014.
2.5.2.2Tradeandother receivables
(in€'000)
12/31/14
12/31/13
Grossdebtorsandapportionedaccounts
186,480
139,598
Impairmentof tradeandotherapportionedaccounts
(4,265)
(4,380)
Netdebtorsandapportionedaccounts
182,215
135,218
State -Other taxesandduties
19,448
21,196
Social charges&employees
875
336
Accountspayable -advances,debtors
2,484
2,445
Deferredcharges
4,931
2,360
Other
6,154
7,925
Other receivables
33,891
34,261
Total tradeandotherreceivables
216,107
169,479
Assignmentsofreceivablesamounted,atDecember31,2014, to€60.8M,
comparedwith €54.4M at December 31, 2013. The fair value of these
transferred assets in accordance with the IFRS 7 definition is equal to
their nominal value. These transfers aremade in the form of factoring
withconventional subrogation,without recourse, thereby removingany
exposure toa riskof financial loss.Thereare fivecontracts for thesaleof
receivables,threesignedforan indefiniteperiod,theothertwoforaterm
of one year renewable automatically. These contracts provide for the
opportunitytotransferreceivablesuptoanamountof€119M.
Overdue receivables not covered by provisions mainly concern major
customers with which the Group has annual or pluriannual business
agreements.Onthebasisofhistoricobservations,thecompanyconsiders
theriskofnon-collectionmarginal,withnon-hedgedoverduereceivables
beingmainlywithin less thanone year; the sharewithinmore thanone
yearbeingtotally immaterial.
