4 – Administrative expenses
| (€ million) |
2008 |
2007 |
| Salaries |
21.0 |
|
18.9 |
|
| Social security charges |
3.9 |
|
3.5 |
|
| Contributions to defined contribution plan |
2.2 |
|
2.1 |
|
| Net benefit expense for defined benefit plan |
0.2 |
|
0.3 |
|
| Other staff costs |
10.4 |
|
7.2 |
|
| Office overheads |
10.2 |
|
9.9 |
|
| Advice, valuation and audit fees |
7.3 |
|
7.3 |
|
| Listing and promotional costs |
1.7 |
|
0.6 |
|
| Other administrative expenses |
1.5 |
|
2.0 |
|
| Charged to operating expenses |
-13.3 |
|
-11.6 |
|
| Charged to property portfolio |
-6.9 |
|
-5.7 |
|
| Charged to third parties |
-8.0 |
|
-7.5 |
|
|
|
30.2 |
|
27.0 |
In 2008, the Group employed an average of 348 full-time equivalent staff (2007: 304 FTEs). On average, 182 of these were employed outside the Netherlands (2007: 136 FTEs).
Where administrative expenses relate directly to the operation of the property portfolio, they are charged to operating expenses. Where administrative expenses relate directly to the development of the property portfolio, they are capitalised.
Source: Annual Report 2008, Chapter Financial Statements, page 162 (PDF, 179 kB)
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