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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
POLAND
Sensitivity to changes in WACC and perpetual growth rate
WACC (%)
(1.0)%
(0.50)%
0.00%
0.50%
1.0%
(0.50)%
89
15
(47)
(100)
(145)
Perpetual growth (%)
(0.25)%
137
55
(13)
(70)
(119)
0.00%
191
99
24
(39)
(92)
0.25%
251
148
65
(4)
(62)
0.50%
317
202
110
34
(30)
Sensitivity to changes in net sales and EBITDA margin growth rates
Net sales growth (%)*
(1.00)%
(0.50)%
0.00%
0.50%
1.00%
(0.50)%
(148)
(136)
(123)
(69)
(55)
EBITDA margin growth (%)*
(0.25)%
(82)
(68)
(53)
8
25
0.00%
(16)
1
24
34
52
0.25%
50
69
87
107
127
0.50%
117
137
158
179
201
Adjustment variable for each of the years covered by the business plan.
*
Other countries
6.3.1.2
For the other countries where the Group conducts business, the analysis of sensitivity to a simultaneous change in the key inputs based on
reasonably possible assumptions (such as those presented above for Italy and Poland) did not reveal any probable scenario according to which the
recoverable amount of any of the groups of CGUs would be less than its carrying amount.
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2015 REGISTRATION DOCUMENT