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COMPANY FINANCIAL STATEMENTS
89
LISI 2015 FINANCIAL REPORT
3.5
/
SUBSIDIARIES AND HOLDINGS
3.5.1 Elements regarding related companies and holdings
(in €'000)
Amount concerning related companies
with
whom the Company has a
participating interest
ASSETS:
Receivables related to equity holdings
500
–
Debtors and apportioned accounts
1,620
–
Cash advances to subsidiaries
411,313
–
Tax integration current account
0
–
LIABILITIES:
Subsidiaries’ financial assistance
255,476
–
Tax integration current account
8,252
–
Suppliers
188
–
INCOME STATEMENT:
IT maintenance
29
–
Reserves for equity interests
2,143
–
Service and management fees invoices
8,145
–
Miscellaneous chargebacks
1,189
–
Revenues from subsidiaries' loans and current accounts
4,132
–
Revenues from equity interest
21,007
–
3.5.2 Subsidiaries and holdings (company data in €)
Companies
Share capital
Shareholders'
equity and
minority
interests
Share of
capital held
(%)
Gross book
value of
securities
held
Provisions
on
securities
held
Net book value
of securities
held
Loans, advances
granted by the
company not yet
repaid
Loans,
advances
received by
the company
not yet repaid
Amount of
guarantees
given by the
company
Sales revenue
excl. VAT of the
last financial
year
Net income or
net loss of the
last financial
year
Dividends
received by
the parent
company
during the last
financial year
Subsidiaries:
LISI AEROSPACE 2,475,200 112,525,645 100.00% 30,863,816
30,863,816
55,272,906
305,817,466 56,903,294 21,007,166
LISI AUTOMOTIVE 31,690,000 99,222,596 100.00% 93,636,481
93,636,481
39,165,347
25,104,963 (3,536,234)
LISI MEDICAL
33,337,000 24,610,621 100.00% 33,337,000
33,337,000 31,319,986
2,234,868 8,141,998
3.6
/
IDENTITY OF THE CONSOLIDATING COMPANY
Compagnie Industrielle de Delle (CID)
Limited company with share capital of €3,189,900
Head Office: 28 Faubourg de Belfort – BP 19 – 90101 DELLE Cedex
Compagnie Industrielle de Delle held 54.87% of the capital of
LISI S.A. as at December 31, 2015.
3.7
/
ALLOCATION OF PERFORMANCE SHARES
Actingon the recommendationof theCompensationCommittee,
LISI's Board of Directors decided, on October 24, 2012, to allocate
performance shares to members of the Executive Committee
and to members of the main Management Committees for the
three LISI Group divisions, subject to their meeting certain
performance targets. The same went for 2013, 2014 and 2015 to
the extent that at the meetings of October 24, 2013, October 23,
2014 and December 17, 2015, the Board of Directors renewed the
opening of new plans subject to similar conditions.
The 2012 plan was definitively acquired in 2015.
The fair value of the benefits granted is recognized as a provision
in 2015 for an amount of €0.8 million for the employees of the
French companies. This cost was not allocated to divisions, and
remains an expense at the LISI S.A. level until the definitive
realization of the plan. The impact of the expense relating to
the awards of free performance shares is included in the payroll
expenses for employees of LISI S.A. only.
The maturity of the 2012 plan in May 2015 resulted in a provision
reversal of €1 million.