2007 Reference document (PDF) - Valeo

2 Management
PAGE 74
Report
Social indicators
6. Remuneration
6.1. Changes in remuneration and social charges
(In million of euros) 2005 * 2006 * 2007
Payroll excluding social charges 1,473 1,532 1,517
Social charges 368 402 399
Pension expenses in respect of defined contribution schemes 116 105 96
Total payroll 1,957 2,039 2,012
Charge rate 32.9% 33.1% 32.6%
* On a like-for-like basis (excluding Motors & Actuators and Wiring Harness).
(In million of euros) 2005 * 2006 * 2007
Personnel costs (including temporary staff) 1,636 1,699 1,686
% of sales 17.8% 18.0% 17.6%
* On a like-for-like basis (excluding Motors & Actuators and Wiring Harness).
Breakdown by geographical area in 2007 *
2007 Reference document - VALEO
France Europe (excl. France) Outside Europe
Payroll excluding social charges 619 511 387
Social charges 215 112 72
Total payroll 834 623 459
Charge rate 34.7% 21.9% 18.6%
The highest headcount is in France, with over 15,000 employees.
Overall, wages went up an average of 2.1% in 2007, with inflation
standing at 1.5%.
Eleven wage agreements were signed in the Group’s 17 French
companies with employee representative bodies and unions.
Of these agreements, eight (47%) were signed by the majority of
the representative unions, including six (37%) that were agreed
unanimously.
6.2. Profi t-sharing, incentive schemes and
employee savings schemes
6.2.1. Profit-sharing
In 2007, 4,980,694 euros was set aside in a special profit-sharing
reserve by five out of the Group’s 17 companies in France.
6.2.2. Incentive schemes
A total of 2,260,317 euros was paid out under incentive schemes
to employees from five of the Group’s 17 companies in France in
2007.
6.2.3. Employee savings
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Group savings scheme
Employees can invest sums of money from profit-sharing and
incentive schemes in an Employee Savings Plan set up on
November 13, 2001, under a collective agreement signed by
Group Management and four trade union organizations. Voluntary
payments can also be made with top-up payments of 0% to 75%
by Valeo.
This scheme only applies to French companies.
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