Sales growth New business wins
Management sales measured both in absolute terms and on an underlying basis (i.e. excluding the effects of currency translation, acquisitions and divestments) relative to the prior year. Aerospace: estimated value of products and services for new work packages won during the year. Based on forecast aircraft sales over the period of long-term agreements or total lifetime if contracts are for the life of the aircraft platform. Automotive: estimated peak annual revenues from new business contracted during the year. Separate measures are used to report performance for GKN Aerospace and the automotive divisions (GKN Driveline and GKN Powder Metallurgy) as these are considered to best reflect the nature of each business and industry norms. New business wins for GKN Land Systems are not reported given the short-term and recurring nature of its contracts.
Research and development (R&D) as a percentage of sales Accident frequency rate (AFR) Accident severity rate (ASR) Energy efficiency Apprentices Employee disclosures Management turnover
Total research and development expenditure, including customer and government funding, expressed as a percentage of management sales. The number of lost time accidents per 1,000 employees. The number of days/shifts lost due to accidents and occupational ill health per 1,000 employees. Energy consumption expressed as a percentage of sales. Total number of apprentices employed at the year end. Total number of calls received through the Group’s employee disclosure hotline during the year. Voluntary turnover of management-level employees, excluding compulsory redundancies, terminations and retirements, expressed as a percentage of all subsidiary management level employees in GKN subsidiary companies. % of women in management refers to the number of women in management roles expressed as a percentage of all management-level employees. % of management-level employees from under-represented groups refers to the number of management-level employees from certain targeted developing markets expressed as a percentage of total management-level employees.
Online compliance training
Completion of mandated compliance training on anti-bribery and corruption, competition law, and IT security measures as a percentage of a pre-defined audience of employees.
Exchange rates used for currencies most relevant to the Group’s operations are:
Euro US dollar
The approximate impact on 2015 trading profit of subsidiaries and equity-accounted investments of a 1% movement in the average rate would be euro – £1 million, US dollar – £5 million.
GKN plc Annual Report and Accounts 2015