5.5 Personnel expense

  For the first half of
(€’000) 2014 2013 restated
Wages and salaries 124,625 128,799
Stock grant plans 1,040 1,783
Social security and pension contributions 27,734 26,073
Italian post-employment benefits 126 120
Other defined benefit plans 235 259
Other defined contribution plans 1,895 1,836
Recovery of personnel expense (762) (681)
Restructuring costs 2,900 401
Other costs 1,394 1,874
Total 159,187 160,464

The workforce at 30 June 2014 numbered 3,884, down a net 55 employees on the 3,939 employees at 30 June 2013 and 45 employees on the 3,929 employees at 31 December 2013 (2013 figures restated).

The average headcount on the payroll in the first half of 2014 numbered 3,873, compared to 3,906 employees in the first half of 2013 restated.

Personnel expense came to €159,187 thousand, down €1,277 thousand on the same period of the previous year (€160,464).

This caption includes restructuring costs of €2,900 thousand related to the redundancy agreement signed by the parent Ansaldo STS S.p.A. at the beginning of the year.

The Italian post-employment benefit and other defined benefit plan expense represent solely the service cost. The interest costs were recognised under financial expense.

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 100,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company