Notes to the income statement
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GROUP
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PARENT
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2013
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2012
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2013
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2012
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Other operating income
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Sales gains from direct investments
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731,852
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1,529,891
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509,367
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1,319,597
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Other income
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196,712
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205,045
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409,438
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532,903
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Total
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928,564
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1,734,936
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918,805
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1,852,500
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Average number of personnel employed by the company during the financial year
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30
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29
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30
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29
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Personnel expenses
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Salaries and fees
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2,855,055
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2,800,240
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2,855,055
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2,800,240
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Pension expenses
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459,147
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471,096
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459,147
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471,096
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Other personnel expenses
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161,613
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118,056
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161,613
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118,056
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Total
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3,475,816
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3,389,392
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3,475,816
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3,389,392
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Salaries and fees paid to management
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Board of Directors
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115,700
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111,100
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115,700
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111,100
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President & CEO
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282,496
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252,133
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282,496
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252,133
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Management Group
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1,262,390
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1,151,590
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1,262,390
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1,151,590
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The Management Group’s salaries and fees include the salaries and fees of the President & CEO and of his deputy.
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The remunerations paid to Board members are decided by the Annual General Meeting (AGM). The AGM held on 26 March 2013 decided on the following monthly sums: Chairman of the Board: €1,500; Deputy Chairman of the Board: €850; and other members of the Board: €700; and in addition to the monthly remuneration, all members of the Board €500 per meeting.
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The Board of Directors decides on the pay principles, total pay and bonus scheme for the President & CEO and other members of the company’s Management Group. The Management Group comprised the President & CEO and on average six other members during the financial year. All the company’s personnel were included in the bonus scheme during 2013.
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Depreciation of non-current assets
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2013
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2012
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2013
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2012
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Depreciation of intangible rights
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97,143
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94,265
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97,143
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94,265
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Depreciation of machinery and equipment
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54,208
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72,068
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54,208
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72,068
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Total
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151,351
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166,333
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151,351
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166,333
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Other operating expenses
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The Group’s and parent company’s other operating expenses in 2013 include sales losses on direct investments of €5,128,475 (€40,495 in 2012).
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GROUP
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PARENT
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Auditor’s fees
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2013
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2012
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2013
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2012
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Audit fees
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24,285
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18,389
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18,426
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14,084
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Tax advice
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2,480
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3,260
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2,480
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3,260
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Other fees
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5,084
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19,363
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5,084
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15,400
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Total
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31,849
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41,011
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25,990
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32,743
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2013
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2012
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2013
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2012
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Financial income and expenses
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Income from investments in non-current assets
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21,043,055
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11,798,917
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20,755,320
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10,856,333
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Other interest and financial income
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10,762,230
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12,302,367
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10,762,066
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12,302,250
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Reductions in value of investments in non-current assets
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-27,942,444
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-14,326,601
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-31,578,107
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-15,050,833
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Reductions in value of investments in current assets
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-250,930
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3,122,086
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-250,930
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3,122,086
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Other interest and financial expenses
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-861,630
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-1,420,195
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-861,630
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-1,420,195
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Total
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2,750,280
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11,476,575
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-1,173,281
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9,809,641
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Extraordinary items
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Extraordinary income / Group contribution
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17,137
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17,451
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Extraordinary expenses / Group contribution
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-2,000
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-2,000
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