80 / 158
80
LISI 2016 FINANCIAL REPORT
3.2.5
I
Maturity dates for receivables and debts
RECEIVABLES
(in €’000)
Gross amount
end year
At less
than 1 year
1 to 5 years
More than
5 years
Customers
1,754
1,754
Income tax
Tax integration current accounts
Subsidiaries’ current accounts
399,705
399,705
Other debtors
923
923
TOTAL
402,382
402,382
DEBT
(in €’000)
Gross amount
end year
At less
than 1 year
1 to 5 years
More than
5 years
Loans and debts from credit institutions:
at a maximum of 1 year when contracted
21
21
at more than 1 year when contracted
223,823
29,823
48,000
146,000
Sundry loans and financial debts
62,904
51,046
11,858
––
of which FT BESTAS loan
11,910
52
11,858
Accounts payable and apportioned accounts
1,576
1,576
Debt on fixed assets and apportioned accounts
394
394
Tax and statutory payments
1,908
1,908
Income tax
999
999
Tax integration current accounts
7,843
7,843
Subsidiaries’ current accounts
220,007
220,007
Other creditors
TOTAL
519,475
313
,
617
59,858
146,000
On December 31, 2016, the item “Loans and debts fromcredit 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, on March 20, 2015 for an amount of €20 million and on
March 4, 2016 for an amount of €40 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)
At December 31, 2016, the balance of the item “Borrowings and debt”
includes the setting up an intragroup loan to our Turkish subsidiary
FT BESTAS for an amount of €12 million and the drawing of treasury
bills (NEU CP) issued on the French debt money market for an amount
of €51 million.
3.2.6
I
Marketable securities and cash
3.2.6.1 Marketable securities
As at December 31, 2016, marketable securities were as follows:
(in €’000)
1,119,422 LISI shares*
8,848
SICAV and deposit certificates
92,502
GIVING A GROSS TOTAL OF
101,350
* 1,119,422 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 €74.1 million and guaranteed-capital investments
for €18.4 million.
The total net asset value of marketable securities stood at €74.1million
as at December 31, 2016.
COMPANY FINANCIAL STATEMENTS
4