56
I LISI FINANCIALREPORT2013
CONSOLIDATEDFINANCIALSTATEMENTS
3
2.6.5Researchanddevelopmentexpenses
TheLISIGroup'smissionistocarryoutintensiveresearchanddevelopment
activities, both indevelopingnewproducts and inusingnewmaterials.
This research and development activity is carried out at various levels:
either as part of a co-operative venture between research and design
departmentswithinourowndivisionsand thoseofour customers,or to
developorimprovecertaincomponentsorindustrialprocesses.Theseare
mainlycomprisedofpersonnelexpensesdedicatedtoR&Dservices.Staff
dedicatedtoR&Drepresent in2013some9%oftheGroup’semployees.
Theexpenses incurred for the last three financial yearsare shown in the
tablebelow:
In€m
2013
2012 2011
R&Dexpenses
18.9
22.7 18.9
%of sales revenue
1.7%
2.1% 2.0%
Activatedprojects
0
0.2
0.7
2.6.6Non-recurringoperatingexpensesandrevenues
Non-recurringoperatingexpensesandrevenuesbreakdownas follows:
(in€'000)
12/31/13
12/31/12
Non-recurringoperatingexpenses
DisposalofKNIPPINGUmformtechnikGmbH
(196)
Insurancedeductible
(300)
(23)
Industrial reorganizationcosts
(1,437)
(37)
Other costs
(145)
(111)
Reserveallowance for industrial reorganizations
(11,505)
(5,500)
Provisionsallowance for restructurings
Impairmentof B.U.goodwill USAunit
(3,006)
Impairmentof B.U.goodwill Clipped fasteners
(3,400)
Total
(16,393)
(9,267)
Non-recurringoperatingrevenues
Industrial reorganizationplanprovision reversals
2,639
36
Other revenues
11
Total
2,639
47
Non-recurringrevenueandexpensesfromoperations
(13,754)
(9,220)
Therulesforthepresentationanddefinitionofnon-recurringincomeand
expensesremainunchangedcomparedtoDecember31,2012.
Theamountof€11.5millionessentiallyrelatestothereorganizationofthe
screw fasteners business in Franceby the closureof theplant at Thiant
andthetransferof itsactivitytothreeotherFrenchplants.
To theCompany'sknowledge, therearenoother litigations, arbitrations
ornon-recurrent facts thathave,orhavehad,asignificant impacton the
financialsituation,earnings,businessorassetsoftheLISIGroup.
