64 / 168
2.6.4
I
Payroll expenses
(in €’000)
LISI AEROSPACE LISI AUTOMOTIVE
LISI MEDICAL
Other
Total 2017
Total 2016
Temporary workers
30,375
8,418
3,015
(281)
41,527
38,398
Salaries and incentives
243,048
123,033
46,215
2,916
415,212 403,510
Layoff pay
1,769
1,043
273
0
3,085
2,780
Social contributions and taxes on salaries
92,637
42,384
16,261
2,803 154,085 152,777
Employee profit-sharing
3,697
0
117
0
3,814
5,241
Pensions and long-service medals
885
572
155
0
1,612
1,779
TOTAL PAYROLL EXPENSES
372,411
175,450
66,036
5,438 619,333 604,484
2.6.5
I
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 new materials. 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 2017 some 2.2% of the Group’s employees.
The expenses incurred for the last three financial years are shown in
the table below:
In millions of euros
2017
2016
2015
Research and Development
expenditures
27.5
26.3
23.8
% of sales revenues
1.7% 1.7% 1.6%
Activated projects
1.3
0
0
2.6.6
I
Non-recurring operating expenses and revenues
Non-recurring operating expenses and revenues break down as follows:
(in €’000)
12/31/2017
12/31/2016
NON-RECURRING OPERATING EXPENSES
Industrial reorganization costs
(3,944)
(7,732)
Restructuring costs
(481)
Other costs
(553)
(248)
Reserve allowance for industrial reorganizations
(611)
(4,970)
TOTAL
(5,588)
(12,950)
Non-recurring operating revenues
Sale of Précimétal
259
Industrial reorganization plan provision reversals
1,277
2,222
Reversals of provisions allocated to restructuring
372
Other revenues
752
TOTAL
1,908
2,974
NON-RECURRING REVENUE AND EXPENSES FROM OPERATIONS
(3,680)
(9,976)
The rules for the presentation and definition of non-recurring income
and expenses remain unchanged compared to December 31, 2016.
The non-recurring income comesmainly fromstudies on the relocation
of the Bologne (Haute-Marne) site.
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.
64
LISI 2017 FINANCIAL REPORT
CONSOLIDATED FINANCIAL STATEMENTS
3