InformationregardingtheCompanyandcorporategovernance
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I
LISI 2014FINANCIALREPORT
2.3.1.3Geographicdistributionof theheadcount
Thetablebelowshowsthebreakdownofstaffbygeographicarea:
2014
as a% 2013 as a%
France
6,116
57% 4,956
54%
Europe (excl.France)
1,861
17% 1,694
18%
NorthAmericancontinent
1,626
15% 1,584
17%
Africa
318
3% 268
3%
Asia
780
7% 737
8%
Total
10,701
100% 9,239 100%
2.3.1.4Consolidated turnover2014
EFTAW*
Voluntary
departures
Turnover rate
10,749
329
3.06%
*Equivalent full-timeaveragewage.
2.3.2Profit-sharing,incentiveandshare-basedcompensation
2.3.2.1Employee Incentive
a)Profit-sharingand incentivescheme
Profit-sharing
Thefundspaidoutintheformofspecialreservesforprofit-sharingduring
thepast3yearsareas follows (inmillioneuros):
2014
2013
2012
5.6
5.4
5.1
Incentivescheme
Most of the companies within the Group have an incentive system
allowing employees to participate actively in the group’s performance.
Themethods for calculating thesums involveddependon thecriteriaof
eachcompany.
b)GroupSavingsPlan(PEG)
In2001, theLISIGroupcreatedasavingsplandubbed "LISIenactions" for
its French companies. This plan facilitated participation in 2001, 2004,
2006, 2010 and 2014 in capital increases reserved for employees in the
sumsof€1.47M,€0.8M,€1.18M,€0.9Mand€1.8M, respectively.
For other years, the PEGwas renewed in the form of a repurchase of
shares.
The levels of voluntary contributions by employees, the profit-sharing
and the extent of profit-sharing schemes are set by the company in
accordancewithaschedule.
Benefits granted to employees under the group savings plan are
recorded to the income statement and assessed in accordance with
IFRS2.
AsatDecember31,2014,the“LISIenactions”planconsistedentirelyofLISI
shares, foratotalof677,650shares,andhad1,803members.
c)Employeeshareholding
Thepercentageof share capital heldby theGroup’s employees stoodat
1.25%asatDecember31,2014.
2.3.2.2Share-basedcompensation
a)Freesharesgrantingplan
As a reward to several employeeswhohave spent themajority of their
working lives employed within the LISI Group, and who have actively
contributed to its development, the Board of Directors, in itsmeeting
of October 24, 2012, with the permission of the General Meeting of
April 26, 2012, decided to allocate 300 LISI company shares, freely and
withoutcondition, tooneGroupemployee.TheBoardofDirectors, in its
meetingofOctober23,2014,withthepermissionof theGeneralMeeting
ofApril26,2012,decidedtoallocate2,375LISIcompanyshares, freelyand
withoutcondition, tooneGroupemployee.
Theplanstipulates thatshares thusallocatedshallbeheld for twoyears,
duringwhichperiodtheymaynotbesoldon.
b)Performancesharesplan
The plans described below refer to the NAV criterion domeasure the
Group's performance. GroupNAV refers to theNet Asset Value of the
LISIGroupasdefinedbythe followingcalculation:
Group NAV = Average of [(0.95*Group Sales Revenue) + (6.5*Group
EBITDA)+ (10*GroupEBIT)]–GroupNetBorrowings
Andwhere:
GroupSales
revenue
is the consolidated sales revenue exclusiveof VAT as
stated inthe“IncomeStatement"ofthe"Consolidated
financial statements” in thisannual report.
GroupEBITDA is theGross CurrentOperatingProfit as stated in the
“Income Statement” of the “Consolidated financial
statements” in thisannual report.
GroupEBIT
is the Current Operating Profit as stated in the
“Income Statement” of the “Consolidated financial
statements” in thisannual report.
GroupNet
Borrowings
is the Net Borrowings of the Group in this annual
report.
