Consolidated financial statements
1
3
LISI 2014FINANCIALREPORT
I
69
Thecurrencyhedging instrumentsatDecember31,2014areas follows:
12/31/14
12/31/13
(enmilliers)
Currency EUR
Currency EUR
GBP
28,785
36,956
21,300
25,549
CAD
32,500
28,058
48,100
32,786
TRY
29,500
10,417
25,550
8,630
PLN
18,000
5,114
13,200
3,177
CZK
192,000
6,923
192,000
7,000
USD
84,601
69,682
27,501
19,941
157,150
97,083
2.7.4.2Commitments receivedaspartofacquisitionsof companies
LISIAUTOMOTIVE :
In the context of the takeover of the sites of Acument La Ferté Fresnel,
LISI AUTOMOTIVE was awarded by TEXTRON a guarantee to cover
environmental risks likely to threatena sitewithno industrial activity to
date.
LISIAEROSPACE
AspartoftheacquisitionoftheManoirAerospaceGroup inJune2014,LISI
AEROSPACEreceivedacommitmentfromthesellertocoverupto€3Mof
theHSEcompliancerisksupuntil2019.Thiscommitment iscoveredbyan
escrowaccount inthesameamountmanagedbyathirdparty.
Additionally, the company received a guarantee of € 5 M to cover
potential tax liabilitiesand labor-relatedrisksupuntil2019.
2.7.4.3Guaranteesgivenaspartof thedivestitureofLISICOSMETICS
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.
2.7.4.4Other commitments
Noothercommitmenthasbeengivenorreceived.
2.8
|
EXCHANGERATESOFCURRENCIESUSEDBY FOREIGN SUBSIDIARIES
12/31/14
12/31/13
Year end rate
Average rate
Year end rate
Average rate
USdollar
USD
1.2141
1.3211
1.3791
1.3308
Sterling
GBP
0.7789
0.8031
0.8337
0.8501
Yuan
CNY
7.5358
8.1543
8.3491
8.1733
Canadiandollar
CAD
1.4063
1.4636
1.4671
1.3771
Zloty
PLN
4.2732
4.1939
4.1543
4.2134
Czechcrown
CZK
27.7350
27.5513
27.4270
26.0270
MoroccanDirham
MAD
10.9681
11.1570
11.2481
11.1796
Indian rupee
INR
76.7190
80.7010
85.3660
78.4711
HongKongDollar
HKD
9.4170
10.2465
10.6933
10.3231
2.9
|
POST-YEARENDEVENTS: INFORMATIONON TRENDS
None.
