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LISI 2011 —
58
— financial report
Consolidated financial statements
The “Consumption” accounting item rose by 28.7% over financial
2011. All items in that section follow the same progression, except for
consumed goods.
Depending on the division, the progression level varies: it is significant
in the LISI AEROSPACE division, as a result of the recovery of business in
2011 and the volumes contributed by newly-consolidated companies;
it is slightly up in the LISI AUTOMOTIVE segment.
2.6
Detail of main income statement items
2.6.1 Sales revenue
The breakdown of sales revenues by business segment and country is shown in note 2.7.1, “Segment information”.
2.6.2 Consumption
(In €’000)
LISI
AEROSPACE
LISI
AUTOMOTIVE
LISI
MEDICAL
Other
TOTAL
2011
TOTAL
2010
Consumption of goods
5,459
19,656
5,179
(1,497)
28,797
27,742
Consumption of raw materials
67,894
102,040
11,423
(141)
181,216
131,697
Tools
24,046
16,373
2,329
(16)
42,733
33,726
Other purchases
6,885
14,739
1,313
16
22,952
21,004
Total consumption
104,283
152,808
20,245
(1,637)
275,698
214,169
2.6.3 Other purchases and external charges
(In €’000)
LISI
AEROSPACE
LISI
AUTOMOTIVE
LISI
MEDICAL
Other
TOTAL
2011
TOTAL
2010
Subcontracting
15,580
41,619
6,160
(21)
63,338
49,536
Maintenance
11,304
17,967
1,969
213
31,452
27,788
Transport
4,568
12,527
425
17,520
13,768
Energy
6,457
15,144
784
8
22,392
19,884
Other purchases and external costs
29,792
21,638
6,100
(4,435)
53,095
49,835
Total other purchases and external costs
67,700
108,895
15,438
(4,236)
187,797
160,810
The increase of external expenses relates mainly the LISI AUTOMOTIVE
arm due to a very significant increase of the outsourcing items related
to production problems at a site undergoing restructuring. The volume
effectalsoconditionsaverysignificant increase inthemaintenance items
(frozen in the past two years), shippings on sales and subcontracting.
It is important to note that this upward movement of the main
items should be compared with the impact of newly-consolidated
companies on the LISI AEROSPACE division.
2.6.4 Payroll expenses
(In €’000)
LISI
AEROSPACE
LISI
AUTOMOTIVE
LISI
MEDICAL
Other
TOTAL
2011
TOTAL
2010
Temporary employees
12,437
8,621
2,898
23,956
14,737
Salaries and incentives
116,124
108,325
18,788
2,157
245,394
216,123
Layoff pay
535
969
369
1,873
1,702
Social contributions and taxes on salaries
45,424
41,508
8,155
1,041
96,127
84,305
Employee profit-sharing
2,753
926
216
3,895
997
Pensions and long-service medals
200
348
159
707
815
Total payroll expenses
177,472
160,696
30,586
3,198
371,952
318,679
The high level of activity in the LISI AEROSPACE division in Europe and
the impact of newly-consolidated companies are the main reason for
this increase of almost 16.7% of payroll expenses.