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CONSOLIDATED FINANCIAL STATEMENTS
67
LISI 2015 FINANCIAL REPORT
2.7.4 Payroll expenses
(in €'000)
LISI
AEROSPACE
LISI
AUTOMOTIVE
LISI
MEDICAL
Other
TOTAL
2015
TOTAL
2014
Temporary employees
25,667
9,689
2,493
(3)
37,846
33,921
Salaries and incentives
238,922
112,648
22,114
2,800
376,484
338,460
Layoff pay
1,528
800
160
50
2,538
2,264
Social contributions and taxes on salaries
93,004
40,547
9,144
3,316
146,011
131,402
Employee profit-sharing
4,652
0
140
0
4,792
5,619
Pensions and long-service medals
991
479
97
0
1,567
1,605
Total payroll expenses
364,764
164,163
34,148
6,163
569,236
513,273
2.7.5 Research and development expenses
The LISI Group's mission is to carry out intensive research and
development activities, both in developing new products and
in using newmaterials. This research and development activity
is carried out at various levels: either as part of a co-operative
venture between research and design departments within
our own divisions and those of our customers, or to develop
or improve certain components or industrial processes. These
are mainly comprised of personnel expenses dedicated to R&D
services. Staff dedicated to R&D represent in 2015 some 2.2% of
the Group’s employees.
The expenses incurred for the last three financial years are
shown in the table below:
(in €M)
2015
2014 2013
R&D expenses
23.8 21.5 18.9
% of sales revenue
1.6% 1.7% 1.7%
Activated projects
0
0
0
2.7.6 Non-recurring operating expenses and revenues
Non-recurring operating expenses and revenues break down as follows:
(in €'000)
12/31/2015
12/31/2014
Non-recurring operating expenses
Industrial reorganization costs
(7,842)
(7,580)
Other costs
(130)
(38)
Reserve allowance for industrial reorganizations
(3,176)
(934)
Impairment of USA B.U. goodwill
(2,300)
Total
(11,148)
(10,852)
Non-recurring operating revenues
Industrial reorganization plan provision reversals
5,300
7,336
Other revenues
8
722
Total
5,308
8,058
Non-recurring revenue and expenses fromoperations
(5,840)
(2,795)
The rules for the presentation and definition of non-recurring
income and expenses remain unchanged compared to
December 31, 2014.
The non-recurrent result stems from the closure of the old City
of Industry (USA) plant and the relocation (in progress) of the
Villefranche-de-Rouergue plant.
To the Company's knowledge, there are no other litigation,
arbitration or non-recurrent events that have, or have had,
a significant impact on the financial situation, earnings,
business or assets of the LISI Group.