ANNUAL REPORT Notes
NOTE 3 REVENUE DISTRIBUTION
Net sales consist of : Group Parent Company
2015 2014 2015 2014
Consulting services |
633,449 |
583,330 |
— |
— |
Licences and software |
297,365 |
233,603 |
— |
— |
Support and maintenance |
926,688 |
739,251 |
— |
— |
Other |
43,300 |
42,390 |
7,285 |
6,565 |
Total |
1,900,802 |
1,598,574 |
7,285 |
6,565 |
NOTE 4 SALARIES , OTHER REMUNERATION AND SOCIAL SECURITY COSTS
Group Parent Company 2015 2014 2015 2014
|
Salaries and other remuneration for :
– boards of directors , presidents and senior executives
|
96,854 |
85,835 |
8,563 |
8,511 |
– other employees |
480,671 |
436,765 |
3,658 |
2,965 |
|
Pension costs for :
– boards of directors , presidents and senior executives
|
12,442 |
10,951 |
1,231 |
1,218 |
– other employees |
45,243 |
45,631 |
493 |
487 |
Other social security costs |
149,593 |
137,661 |
4,103 |
3,420 |
Total |
784,803 |
716,843 |
18,048 |
16,601 |
Salaries and other remuneration for boards of directors , presidents and senior executives above include bonuses and similar , totalling |
15,421 |
12,337 |
2,356 |
2,175 |
Number of persons included in the category of boards of directors , presidents and senior executives above |
92 |
87 |
9 |
10 |
in Addnode Group shares had remained intact up to the date of grant of the shares . In addition , grants of performance shares were conditional upon the Group achieving certain financial targets for the EBITA margin ( earnings before amortisation and impairment of intangible assets in relation to net sales ) for the years 2011 , 2012 and 2013 . According to the AGM ’ s resolutions , the share-savings programme could result in a maximum grant of 674,224 Class B shares in Addnode Group .
Participation , calculations and future grants , and actual grants At the end of the registration period in May 2011 , a total of 303 employees had registered for the share-savings programme . Based on initial participation and the share price at the start of the vesting period , it was calculated in June 2011 that the future grant could amount to a maximum of 253,232 Class B shares . Through 31 December 2011 the estimated maximum number had decreased by 49,852 Class B shares to 203,380 Class B shares , mainly because no performance shares were granted for 2013 . In 2014 this maximum number of shares decreased by 9,040 Class B shares due to initial participants either ending their employment or reducing their holdings of Addnode Group shares . The share-savings programme was concluded in August 2014 through grants of a total of 194,340 Class B shares , free of charge , to the programme ’ s 254 participants . In January 2015 an additional 2,387 Class B shares were granted to one participant in the share-savings programme , after which all obligations under this programme have been settled .
Calculation of market value Addnode Group used generally accepted valuation principles in its calculation of the market value of the share-savings programme . The calculated market value at the beginning of the vesting period in June 2011 was SEK 30.60 per share , mainly based on the listed share price over the last five trading days in May 2011 and the present value calculation of Addnode Group ’ s assumptions regarding future dividends during the vesting period .
Total cost for the year and total cost for the years 2011 – 2015 in accordance with IFRS 2 The Group ’ s costs for the share-savings programme are reported in accordance with IFRS 2 Share-based Payment ( see Note 1 on page 49 ). The Group ’ s personnel costs for the share-savings programme in 2015 amounted to SEK 73 thousand ( 2014 : 1,172 thousand ), of which SEK 73 thousand ( 867 ) was recognised against shareholders ’ equity and SEK – ( 305 thousand ) pertained to social security costs . The Group ’ s total personnel cost for the share-savings programme for the years 2011 – 2015 was SEK 8,304 thousand , of which SEK 2,284 thousand pertained to social security costs .
SHARE-SAVINGS PROGRAMME The Annual General Meeting on 4 May 2011 resolved , in accordance with the Board ’ s proposal , to implement a share-savings programme for all employees of Addnode Group , which was in effect from June 2011 to August 2014 . The Group does not have any other share-based incentive programmes .
Terms in summary In brief , the programme entailed that in August 2014 , participating employees , on condition that they had made their own personal investments in Addnode Group shares through successive purchases during the period June 2011 – April 2012 , could be granted additional Class B Addnode shares free of charge , consisting partly of matching shares and partly of performance shares . A requirement for participants to be entitled to receive matching shares was continued employment in the Group and that their investment
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