annual financial statement 2011 - conwert Immobilien Invest SE

CONWERT IMMOBILIEN INVEST SE
ANNUAL FINANCIAL 2011 STATEMENT ANNUAL REPORT 2011
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7.5. OTHER OPERATING EXPENSES
Other operating expenses consist of the following items:
in € million 2011 2010
Administrative costs (from property service companies):
Non-income based taxes and duties 0.9 1.6
Consulting, incl. contract services 3.4 3.6
Sub-commissions and broker commissions for property development and sales 1.3 1.9
Write-off of uncollectible receivables and impairment charges to trade receivables 0.3 3.7
Advertising 0.6 1.0
Training 0.2 0.2
Office space 1.7 2.1
Office operations 0.7 0.7
IT expenses 2.0 1.8
Motor vehicle expense and travel costs 2.2 1.9
Bank charges 0.1 0.1
Miscellaneous 3.2 2.1
Subtotal
Property-specific and Group costs:
16.7 20.7
Management fees 0.0 0.1
Non-income based taxes and duties 2.5 2.3
Consulting, incl. contract services 6.4 9.5
Sub-commissions and broker commissions for property development and sales 6.9 2.9
Advertising 1.7 2.5
Exchange rate losses 1.1 1.2
Write-off of uncollectible receivables and impairment charges to trade receivables 4.6 7.7
Bank charges 2.7 2.1
Miscellaneous 4.2 3.0
Subtotal 30.0 31.3
Transaction costs from the acquisition of ECO 0.0 4.6
Total 46.7 56.7
The fees charged by the auditor and property appraisers consist of the following:
in € million 2011 2010
Fees charged by the auditor for legally required audits 0.5 0.6
Fees charged by the auditor for other services 0.0 0.0
Fees charged for valuation of the property portfolio 0.9 1.2
Total 1.4 1.8