LISI GROUP - 2018 Financial report

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The amounts shown under scope changes are due to the entry of LISI AUTOMOTIVE Hi-Vol Inc into the Group scope on September 21, 2018 and the
disposal of LISI AUTOMOTIVE BETEO GmbH on December 31, 2018.
2.5.2.2 - Trade and other receivables
(in thousands of euros) 12/31/2018 12/31/2017
Gross debtors and apportioned accounts 223,005 204,333
Impairment of trade and other apportioned accounts (3,481) (3,679)
Net debtors and apportioned accounts 219,524 200,654
State - other taxes and duties 27,502 29,383
Social entities & workforce services 250 16
Accounts payable - advances, debtors 4,776 4,208
Deferred charges 5,461 5,161
Other 5,629 21,827
Other receivables 43,617 60,595
Total trade and other receivables 263,141 261,249
Assignments of receivables amounted, at December 31, 2018, to
€69.1 million, compared with €73.4 million at December 31, 2017. The fair
valueofthesetransferredassets inaccordancewiththeIFRS7definition
is equal to their nominal value. These transfers are made in the form of
factoring with conventional subrogation, without recourse, thereby
removinganyexposuretoariskoffinancial loss.Therearefourcontracts
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
€82million.
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 to be marginal, with non-hedged
overdue receivables dating back mainly to less than one year and the
portion exceeding one year being totally insignificant.
Theaveragepaymentperiodforfinancialyear2018was49dayscompared
to 45 days in 2017.
Debt by maturity
2018
(in thousands of euros) TOTAL < 30 days 30 to 60 days 60 to 90 days 90 to 120 days > 120 days
Gross debtors 223,005 144,486 77,526 11,851 673 (10,563)
Net debtors 219,524 140,797 77,526 11,851 673 (10,563)
2017
(in thousands of euros) 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)
The “120 days” amount is a restatement of customer prepayments of over one year.
Late payments
(in thousands of euros) 12/31/2018 12/31/2017
0 to 30 days 26,700 19,203
30 to 60 days 5,027 4,995
60 to 90 days 1,419 1,486
> 90 days 8,557 3,171
Total 41,704 28,854