50 / 168
12/31/2017
12/31/2016
Perpetual
growth rate
Discount rate
Perpetual
growth rate
Discount rate
LISI AEROSPACE
2.00%
7.09%
2.00%
6.66%
LISI AUTOMOTIVE
2.00%
8.15%
2.00%
8.15%
LISI MEDICAL
2.00%
5.24%
1.90%
4.77%
12/31/2017
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*
(asa
%)
Decrease in the
EBITDA rate
necessary so that
the recoverable
amount is equal to
the book value (in
basis points)
LISI AEROSPACE
7.09%
898 2.00%
(1,906)
(65.41%)
(1,088)
LISI AUTOMOTIVE
8.15%
204 2.00%
(342)
(25.92%)
(242)
LISI MEDICAL
5.24%
391
2.00%
(560)
(56.93%)
(725)
* Not provided due to the underlying confidential nature.
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*
(asa
%)
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)
(70.39%)
(1,153)
LISI AUTOMOTIVE
8.15%
228 2.00%
(397)
(29.21%)
(245)
LISI MEDICAL
4.77%
418 1.90%
(611)
(62.29%)
(680)
* Not provided due to the underlying confidential nature.
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:
50
LISI 2017 FINANCIAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
3