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2.5.2.2 Trade and other receivables
(in €’000)
12/31/2017
12/31/2016
Gross debtors and apportioned accounts
204,333
226,235
Impairment of trade and other apportioned accounts
(3,679)
(3,708)
NET DEBTORS AND APPORTIONED ACCOUNTS
200,654
222,527
STATE - OTHER TAXES AND DUTIES
29,383
24,516
Social entities & workforce services
16
469
Accounts payable - advances, debtors
4,208
3,594
Deferred charges
5,161
4,161
Other
21,827
5,149
OTHER RECEIVABLES
60,595
37,889
TOTAL TRADE AND OTHER RECEIVABLES
261,249
260,416
Assignments of receivables amounted, at December 31, 2017, to
€73.4 million, compared with €57.7 million at December 31, 2016.
The fair value of these transferred assets in accordance with the
IFRS 7 definition is equal to their nominal value. These transfers are
made in the form of factoring with conventional subrogation, without
recourse, thereby removing any exposure to a risk of financial loss.
There are four contracts for the sale of receivables, two signed for
an indefinite period, the other two for a term of one year renewable
automatically. These contracts provide for the opportunity to
transfer receivables up to an amount of €82 million.
Overdue receivables not covered by provisions mainly concern major
customers with which the Group has annual or pluriannual business
agreements. On the basis of historic observations, the Company
considers the risk of non-collection marginal, with non-hedged
overdue receivables being mainly within less than one year; the share
within more than one year being totally immaterial.
The average payment period for financial year 2017 was 45 days
compared to 51 days in 2016.
Debt by maturity
2017
(in €’000)
TOTAL
< 30 days
30 to 60 days
60 to 90 days 90 to 120 days
> 120 days
Gross debtors
204,333
125,151
74,667
13,648
1,661
(10,794)
Net debtors
200,654
121,472
74,667
13,648
1,661
(10,794)
2016
(in €’000)
TOTAL
< 30 days
30 to 60 days
60 to 90 days 90 to 120 days
> 120 days
Gross debtors
226,235
120,284
86,159
18,302
1,424
66
Net debtors
222,527
117,355
85,379
18,302
1,424
66
The more than 120 days amount is a restatement of customer prepayments of over one year.
Late payments
(in €’000)
12/31/2017
12/31/2016
0 to 30 days
19,203
21,274
30 to 60 days
4,995
3,877
60 to 90 days
1,486
1,419
> 90 days
3,171
3,865
TOTAL
28,854
30,434
55
LISI 2017 FINANCIAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
3