EU Industrial R&D Investment Scoreboards 2011

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Table A3.1. Euro exchange rates applied to Scoreboard data of companies based indifferent currency areas (as of 31 Dec 2010).CountryAs of 31 Dec2009As of 31 Dec 2010Australia $ 1.60 $ 1.3087Canada $ 1.50 $ 1.333China 9.80 Renminbi 8.84 RenminbiCzechRepublic26.41 Koruna 25.0889 KorunaCroatia 7.30 Kuna 7.3819 KunaDenmark 7.44 Danish Kronor 7.4518 Danish KronorHungary 270.24 Forint 278.3369 ForintIceland 169.33 Iceland Krona 179.60 Iceland KronaIndia 66.77 Indian Rupee 59.9846 Indian RupeeIsrael 5.44 Shekel 4.75 ShekelJapan 133.57 Yen 108.8013 YenMexico 18.73 Mexican Peso 16.546 Mexican PesoNorway 8.29 Norwegian Kronor 7.7974 Norwegian KronorPoland 4.11 Zloty 3.9634 ZlotyRussia 43.49 Rouble 40.9516 RoubleSouth Korea 1670.77 Won 1522.4574 WonSweden 10.24 Swedish Kronor 9.0186 Swedish KronorSwitzerland 1.48 Swiss Franc 1.2504 Swiss FrancTurkey 2.15 New Lira 2.0646 New LiraUK £ 0.89 £ 0.8568USA $ 1.43 $ 1.3415Taiwan $ 45.89 $ 39.1131Glossary of definitions1. Research and Development (R&D) investment in the Scoreboard is the cashinvestment funded by the companies themselves. It excludes R&D undertaken undercontract for customers such as governments or other companies. It also excludes thecompanies' share of any associated company or joint venture R&D investment. Beingthat disclosed in the annual report and accounts, it is subject to the accountingdefinitions of R&D. For example, a definition is set out in International Accounting78The 2011 EU Industrial R&D Investment Scoreboard
Standard (IAS) 38 “Intangible assets” and is based on the OECD “Frascati” manual.Research is defined as original and planned investigation undertaken with the prospectof gaining new scientific or technical knowledge and understanding. Expenditure onresearch is recognised as an expense when it is incurred. Development is theapplication of research findings or other knowledge to a plan or design for theproduction of new or substantially improved materials, devices, products, processes,systems or services before the start of commercial production or use. Developmentcosts are capitalised when they meet certain criteria and when it can be demonstratedthat the asset will generate probable future economic benefits. Where part or all ofR&D costs have been capitalised, the additions to the appropriate intangible assets areincluded to calculate the cash investment and any amortisation eliminated.2. Net sales follow the usual accounting definition of sales, excluding sales taxes andshares of sales of joint ventures & associates. For banks, sales are defined as the“Total (operating) income” plus any insurance income. For insurance companies, salesare defined as “Gross premiums written” plus any banking income.3. R&D intensity is the ratio between R&D investment and net sales of a givencompany or group of companies. At the aggregate level, R&D intensity is calculatedonly by those companies for which data exist for both R&D and net sales in thespecified year. The calculation of R&D intensity in the Scoreboard is different from thanin official statistics, e.g. BERD, where R&D intensity is based on value added instead ofnet sales.4. Operating profit is calculated as profit (or loss) before taxation, plus net interestcost (or minus net interest income) minus government grants, less gains (or pluslosses) arising from the sale/disposal of businesses or fixed assets.5. One-year growth is simple growth over the previous year, expressed as apercentage: 1 yr growth = 100*((C/B)-1); where C = current year amount, and B =previous year amount. 1yr growth is calculated only if data exist for both the currentand previous year. At the aggregate level, 1yr growth is calculated only by aggregatingthose companies for which data exist for both the current and previous year.6. Three-year growth is the compound annual growth over the previous three years,expressed as a percentage: 3 yr growth = 100*(((C/B)^(1/t))-1); where C = current yearamount, B = base year amount (where base year = current year - 3), and t = number oftime periods (= 3). 3yr growth is calculated only if data exist for the current and baseyears. At the aggregate level, 3yr growth is calculated only by aggregating thosecompanies for which data exist for the current and base years.7. Capital expenditure (Capex) is expenditure used by a company to acquire orupgrade physical assets such as equipment, property, industrial buildings. In accountscapital expenditure is added to an asset account (i.e. capitalised), thus increasing theasset's base. It is disclosed in accounts as additions to tangible fixed assets.Some Japanese companies might include additions to other assets in the capitalexpenditures disclosed. This may lead to an overstatement of the capital expenditure.8. Number of employees is the total consolidated average employees or year endemployees if average not stated.9. R&D per employee is the simple ratio of R&D investment over employees. At the79The 2011 EU Industrial R&D Investment Scoreboard 79
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Figure S1. One-year R&D investment,
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The specialisation of EU companies
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A high number of the companies in t
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1. IntroductionThe 2011 "EU Industr
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Table 1. Profile of the 2011 Scoreb
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2. OverviewIn the last year compani
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Survey on R&D investment by the EU
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3. Top R&D investing companiesThis
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R&D changes driven by Mergers and A
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Dynamics of top R&D companiesEvery
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4. R&D distribution by regionThis c
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Figure 3.R&D investment by the top
Page 31 and 32: R&D Trends of companies in Member S
Page 33 and 34: 5. R&D distribution by industrialse
Page 35 and 36: The actual contribution of an indus
Page 37 and 38: Table 8. Ranking of top 15 industri
Page 39 and 40: Those based in the US specialise in
Page 41 and 42: Figure 7. Annual growth rates of ma
Page 43 and 44: Table 10.Ranking of industrial sect
Page 45 and 46: The profitability of US companies (
Page 47 and 48: Electronic equipment / LeisureThis
Page 49 and 50: Alternative energyAs observed in pr
Page 51 and 52: 6. Fast growing companiesThis chapt
Page 53 and 54: The list of the companies showing t
Page 55 and 56: Table 15. Companies classified as f
Page 57 and 58: Oil equipment, services & distribut
Page 59 and 60: Table 18. Fast growing companies in
Page 61 and 62: Table 20. Fast growing companies in
Page 63 and 64: 7. R&D and employmentThis chapter p
Page 65 and 66: Table 21 shows the ranking of indus
Page 67 and 68: Figure 10. One-year employment grow
Page 69 and 70: Annex 1 - Background informationThe
Page 71 and 72: Annex 2 - Description of the Scoreb
Page 73 and 74: Mergers and acquisitions involving
Page 75 and 76: • Hewlett-Packard, USA acquired 3
Page 77 and 78: Annex 3 - Methodological notesThe 2
Page 79 and 80: The database is supplemented by dat
Page 81: 1. Funding vs. activityThe focus of
Page 85 and 86: Annex 4 - List of fast growing comp
Page 87 and 88: Company Country Sector name 4-digit
Page 89 and 90: Annex 5 -EU1000List of EU1000 and n
Page 91 and 92: R&D Investment2010change10/09Net Sa
Page 123 and 124: 5.2 Ranking of the top 1000 non-EU
Page 125 and 126: R&D InvestmentNet SalesR&D/NetSales
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R&D InvestmentNet SalesR&D/NetSales
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EU Industrial R&D Investment Scoreboards 2011

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