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CONSOLIDATED FINANCIAL STATEMENTS
60
LISI 2015 FINANCIAL REPORT
2.6.2 Current assets
2.6.2.1 Inventories
(in €'000)
Raw
materials
Tools and other
procurements
Work in
progress
Finished and
intermediary
products
Goods
TOTAL
Gross values at December 31, 2014
61,919
18,399
144,601
111,201
22,990
359,110
Exchange rate spreads
424
122
1,295
1,392
174
3,407
Changes in inventory
1,449
(2,480)
15,568
4,765
(2,417)
16,885
Reclassifications
(356)
(354)
(550)
9,774
(8,868)
(354)
Gross values at December 31, 2015
63,436
15,687
160,914
127,132
11,879
379,047
Impairment at December 31, 2014
12,132
2,549
7,035
19,546
860
42,122
Provisions for amortization and
depreciation
4,221
598
2,560
8,185
71
15,635
Reversal of provisions for
amortization and depreciation
(4,332)
(1,373)
(2,415)
(6,835)
(194)
(15,149)
Exchange rate spreads
83
2
132
418
(45)
590
Reclassifications
(9)
0
(293)
(1,532)
1,557
(277)
Impairment at December 31, 2015
12,095
1,776
7,019
19,782
2,249
42,921
Net values at December 31, 2015
51,341
13,911
153,895
107,350
9,630
336,127
2.6.2.2 Trade and other receivables
(in €'000)
12/31/2015
12/31/2014
Gross debtors and apportioned accounts
178,480
186,480
Impairment of trade and other apportioned accounts
(4,470)
(4,265)
Net debtors and apportioned accounts
174,010
182,215
State - Other taxes and duties
27,775
19,448
Social charges & employees
1,101
875
Accounts payable - advances, debtors
2,857
2,484
Deferred charges
4,174
4,931
Other
5,373
6,154
Other receivables
41,281
33,891
Total trade and other receivables
215,291
216,107
Assignments of receivables amounted, at December 31, 2015,
to €67.5 million, compared with €60.8 million at December 31,
2014. The fair value of these transferred assets in accordance
with the IFRS 7 definition is equal to their nominal value. These
transfers are made in the form of factoring with conventional
subrogation, without recourse, thereby removing any exposure
to a risk of financial loss. There are five contracts for the sale of
receivables, three signed for an indefinite period, the other two
for a term of one year renewable automatically. These contracts
provide for the opportunity to transfer receivables up to an
amount of €112 million.
Overdue receivables not covered by provisions mainly concern
major customers with which the Group has annual or
pluriannual business agreements. On the basis of historic
observations, the Company considers the risk of non-collection
marginal, with non-hedged overdue receivables being mainly
within less than one year; the share within more than one year
being totally immaterial.
2.6.2.3 Cash and cash equivalents
ThecashavailableasatDecember31,2015stoodat€125.8million.
This item consists mainly of investment securities held by the
Group and in particular monetary SICAV instruments and
negotiable security deposits in the amount of €66.1 million
and current bank accounts in euros and foreign currencies. The
latter are recorded at their fair value, and value adjustments
are recorded into the income statement. These positions are
not exposed, the main backing instruments guaranteeing the
capital.