Nabaltec_E_GB2016

NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 81 PERSONNEL EXPENSES 5.5 Personnel expenses are comprised as follows: PERSONNEL EXPENSES in TEUR Wages and salaries Social security contributions Expenses for pension obligations Other pension expenses Total 2016 23,730 3,985 3,773 191 31,679 2015 22,114 3,913 579 185 26,791 Expenses for pension obligations meet the criteria for a defined benefit plan in terms of IAS 19. Other pension expenses consist of employer subsidies to employee pension plans meeting the criteria of a defined contribution plan in terms of IAS 19. The company’s share of statutory pension in the amount of EUR 1,752 thousand (year before: EUR 1,654 thousand), are included in social security contribu- tions, which are paid monthly. insurance contributions, EMPLOYEES 5.6 The average number of employees in the Group has changed as follows: EMPLOYEES Industrial workers Employees Minimally employed workers Total 2016 234 163 5 402 2015 226 157 5 388 In addition, an average of 48 trainees were employed during the year (year before: 46). 5.7 DEPRECIATION Depreciation of fixed assets is evident from the Statement of Fixed Assets. If there are indications of impairment, the company performs an impairment test for intangi- ble assets and property, plant and equipment, in which the book value of the cash-generating units are compared against the realizable value. The realizable value of each cash-generating unit was determined by calculating the net sale value and using the value in use method with the help of the discounted cash flow method. These discounted cash flows are based on three- year forecasts using management-approved projections. The cash flow forecasts take into account past experience and management’s best estimate of the company’s future development. Impairment tests did not indicate a need to write down assets in Financial Year 2016. Annual Report 2016 | Nabaltec AG |||| S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C

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