85 / 164
COMPANY FINANCIAL STATEMENTS
85
LISI 2015 FINANCIAL REPORT
3.2.3 Maturity dates for receivables and debts
Receivables
(in €'000)
Gross amount
Of which within
1 year
Of which between
1 year and 5 years
Of which over
5 years
Trade receivables
1,624
1,624
Other debtors
162
162
Tax credit
17,301
17,301
Subsidiaries’ current accounts
411,313
411,313
Tax integration current accounts
0
0
Total
430,399
430,399
Debt
(in €'000)
Gross amount
Of which within
1 year
Of which between
1 year and 5 years
Of which over
5 years
Loans and debtsfrom credit institutions
215,558
38,558
71,000
106,000
Sundry loans and financial debts
Other creditors
35
35
Subsidiaries’ current accounts
255,476
255,476
Taxes due
Suppliers
1,146
1,146
Tax and statutory payments
2,276
2,276
Tax integration current accounts
8,252
8,252
Total
482,743
305,744
71,000
106,000
On December 31, 2015, the item "Loans and debts from credit
institutions" includes the issuance of unsecured notes on the
US private placement market (USPP: US private placement) on
October 17, 2013 for an amount of €56 million, and on March 20,
2015 for an amount of €20 million.
"Financial covenants" related to this debt are:
■■
Consolidated Gearing ratio < 1.2 (Net debt/Shareholders'
equity)
■■
Consolidated leverage ratio < 3.5 (Net debt / EBITDA)
■■
Coverage ratio of consolidated interest expense < 4.5 (Net
interest expense / EBITDA)
3.2.4 Marketable securities and cash
3.2.4.1 Marketable securities
As at December 31, 2015, marketable securities were as
follows:
(in €'000)
1,233,252 LISI shares*
9,754
SICAV and deposit certificates
66,106
Giving a gross total of
75,859
* 1,233,252 shares held, thanks to the option of buying back the
Company’s own shares up to a limit of 10% of which those held under
the market-making contract.
The item "Marketable securities" essentially comprises
money market funds for €44.3 million and guaranteed-
capital investments for €21.8 million.
The total net asset value of marketable securities stood
at €44.3 million as at December 31, 2015.
3.2.4.2 Cash
This item is solely composed of bank balances.