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LISI 2016 FINANCIAL REPORT
The discounting rates after taxes were used on the basis of an assessment of the specific risks of these businesses.
12/31/2016
12/31/2015
Perpetual
growth rate
Discount
rate
Perpetual
growth rate
Discount
rate
LISI AEROSPACE
2.00%
6.66%
2.00%
6.74%
LISI AUTOMOTIVE
2.00%
8.15%
1.80%
7.92%
LISI MEDICAL
1.90%
4.77%
1.90%
6.66%
12/31/2016
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
6.66%
1,027 2.00%
(2,325)
(70.4%)
(1,153)
LISI AUTOMOTIVE
8.15%
228 2.00%
(397)
(29.2%)
(245)
LISI MEDICAL
4.77%
418 1.90%
(611)
(62.3%)
(680)
12/31/2015
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
USA unit
6.74%
823
2%
(2,000)
(62%)
Not provided due to the underlying
confidential nature
(919)
Specialty
Fasteners
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)
b) Other intangible assets
Tests of sensitivity to the assumptions made were implemented and
concerned the main indicators in the calculations of the valuation
tests: discount rate, infinite growth rate, elements contributing to
cash flows. 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:
CONSOLIDATED FINANCIAL STATEMENTS
3