84 / 168
84
3.2.5 Maturity dates for receivables and payables
RECEIVABLES (in thousands of euros)
Gross amount end year
Less than one year 1 to 5 years
More than 5 years
Customers
2,158
2,158
Income tax
30,807
30,807
Tax integration current accounts
Subsidiaries’ current accounts
395,058
395,058
Other debtors
1,887
1,887
TOTAL
429,912
429,912
0
0
DEBT (in thousands of euros)
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
24
24
at more than 1 year when contracted
226,988
27,313
152,617
47,059
Sundry loans and financial debts
125,004
125,004
Accounts payable and apportioned accounts
1,492
1,492
Debt on fixed assets and apportioned accounts
741
741
Tax and statutory payments
1,864
1,864
Income tax
Tax integration current accounts
14,826
14,826
Subsidiaries’ current accounts
270,781
270,781
Other creditors
0
0
TOTAL
641,720
442,045
152,617
47,059
OnDecember 31, 2017, the item“Loans anddebts 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 €48 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).
As of December 31, 2017, the balance of the item “Borrowings and debt”
includes the drawdown of commercial paper (NEUCP) issued on the debt
money market for an amount of €125 million.
3.2.6 Marketable securities and cash
3.2.6.1 Marketable securities
As at December 31, 2017, marketable securities were as follows:
(in thousands of euros)
976,887 LISI shares*
7,919
SICAV and deposit certificates
125,275
Giving a gross total of
133,194
* 976,887 shares held, under the delegation for the purpose 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 €107.9 million and guaranteed-capital investments for
€17.4 million.
The total net asset value of marketable securities stood at €107.9million
as at December 31, 2017.
LISI 2017 FINANCIAL REPORT
COMPANY FINANCIAL STATEMENTS
4