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CONSOLIDATED FINANCIAL STATEMENTS
55
LISI 2015 FINANCIAL REPORT
The discounting rates after taxes were used on the basis of an assessment of the specific risks of these businesses.
December 31, 2015
December 31, 2014
Infinite growth
rate
Discount rate
Infinite growth
rate
Discount rate
LISI AEROSPACE
USA unit
2%
6.74%
2%
7.42%
Special products
2%
6.74%
2%
7.42%
Extrusion Forming and Sheet Metal
2%
6.74%
2%
7.42%
Forging and Casting
2%
6.74%
NA
NA
LISI AUTOMOTIVE
Threaded fasteners
1.8%
7.92%
1.90%
8.72%
Clipped solutions
1.8%
7.92%
1.90%
8.72%
LISI MEDICAL
LISI MEDICAL
1.9%
6.66%
2%
7.51%
Sensitivity tests for the assumptions retained were undertaken
and related to the major indicators factoring in these value
tests: discount rates, growth rates to infinity and elements that
contribute to cash flow. These sensitivity tests showed that the
limit between the value in use and the net asset is attained for
the variation in these calculation parameters:
December 31, 2015
Discount rate
Infinite 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 basis points)
Rate
used
(as a %)
Decrease in
infinite growth
rate necessary
so that the
recoverable
amount is equal
to the book value
(in basis 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 basis points)
LISI AEROSPACE
Undisclosed because of its underlying
confidential nature
USA unit
6.74%
823
2% (2,000)
(62%)
(919)
Special products
6.74% 2,991
2% (22,858)
(88%)
(2,590)
Extrusion Forming
and Sheet Metal
6.74%
46
2%
(60)
(9%)
(70)
Forging and Casting 6.74%
96
2%
(130)
(20%)
(180)
LISI AUTOMOTIVE
Threaded fasteners 7.92%
221
1.80%
(389)
(27%)
(243)
Clipped solutions 7.92% 207
1.80%
(325)
(26%)
(320)
LISI MEDICAL
LISI MEDICAL
6.66% 100
1.90%
(136)
(18%)
(210)