Company financial statements
1
4
LISI 2014FINANCIALREPORT
I
81
3.2.3Maturitydatesforreceivablesanddebts
Receivables
(in€'000)
Gross amount
Of whichwithin
less than one year
Of whichwithin one
to five years
Of whichwithin
more than five years
Trade receivables
3,903
3,903
Otherdebtors
259
259
Taxcredit
1,852
1,852
Subsidiaries’ currentaccounts
385,722
385,722
Tax integrationcurrentaccounts
1,956
1,956
Total
393,692
393,692
Debt
(in€'000)
Gross amount
Of whichwithin
less than one year
Of whichwithin one
to five years
Of whichwithinmore
than five years
Loansanddebts fromcreditorganizations
221,523
30,523
135,000
56,000
Sundry loansand financialdebts
Other creditors
Subsidiaries’ currentaccounts
218,929
218,929
Taxesdue
Suppliers
1,654
1,654
Taxandstatutorypayments
2,409
2,409
Tax integrationcurrentaccounts
7,160
7,160
Total
451,675
260,676
135,000
56,000
On December 31, 2014, the item "Borrowings from credit institutions"
includes the issuance of unsecured notes on theUS private placement
market (USPPUSprivateplacement) onOctober 17, 2013 for anamount
of€56M.
"Financialcovenants" relatedtothisdebtare:
■■
Consolidatedgearingratio<than1.2 (Netdebt /Shareholders' equity)
■■
Consolidated leverageratio<than3.5 (Netdebt /EBITDA)
■■
Coverage ratio of consolidated interest expense < 4.5 (Net interest
expense /EBITDA)
3.2.4Marketablesecuritiesandcash
3.2.4.1Marketablesecurities
AsatDecember31,2014,marketablesecuritieswereas follows:
(in€'000)
1,442,328LISI stocks*
11,457
SICAVanddeposit certificates
79,783
Givingagrosstotalof
91,240
*1,442,328sharesheld, thanks to theoptionofbuyingback thecompany’sownsharesup toa
limitof10%ofwhichthoseheldunderthemarket-makingcontract.
The item "Marketable securities" essentially comprises money market
funds for€74.9Mandguaranteed-capital investments for€4.9M.
The total net asset valueofmarketable securities stoodat€74.9Masat
December31,2014.
3.2.4.2Cash
This item issolelycomposedofbankbalances.
