FINANCIAL STATEMENTS 2010 - Finnlines

8. PERSONNEL EXPENSES
EUR 1,000 2010 2009 2008
Employee benefit expenses
Salaries -99,046 -96,770 -110,937
Other social costs -16,399 -16,007 -17,002
Pension expenses – defined contribution plans -14,416 -12,849 -15,111
Pension expenses – defined benefit plans -202 32 -1,145
Government grants for shipping companies 19,429 16,831 20,172
-110,635 -108,763 -124,023
Average number of Group employees
Shipping and Sea Transport Services 1,392 1,408 1,430
Port Operations 703 642 1,006
2,096 2,050 2,436
The average number of employees has been calculated by converting the regular working hours performed during the reporting period
to correspond to a full-time employee. The average number of employees was recalculated accordingly for 2009.
Based on Finnish and Swedish legislation, Finnlines has received EUR 19.4 million government grants for personnel expenses in order
to improve competitiveness for merchant vessels. In Finland the amount corresponds to the tax witheld in advance of seamen's income,
the amount paid by the employer for the seamen in social security fees, pension fees and employee’s insurance fees. In Sweden the
state subsidy corresponds to tax witheld in advance of seamen's income and the amount paid by the employer for the seamen in em-
ployer’s social fees.
Based on the terms of the grants, if the subsidies have been granted on false premises the authorities in each country can claim back
the subsidies. Finnlines is not aware of any such risks.
9. DEPRECIATION, AMORTISATION AND OTHER WRITE-OFFS
EUR 1,000 2010 2009
Depreciation of tangible assets
Buildings -2,835 -3,113
Machinery and equipment -6,207 -7,320
Vessels and ship shares -48,585 -48,003
Amortisation of intangible assets -2,493 -2,573
Depreciation of investment properties -2 -4
Impairment on other capitalised expenditures -200
Total depreciation and amortisation -60,322 -61,012
Finnlines subsidiary in Germany has booked EUR 0.2 million as impairment loss for its shares in a company not listed.
10. OTHER OPERATING EXPENSES
EUR 1,000 2010 2009
Port expenses, equipment and other voyage related costs -60,368 -65,113
Leases -43,112 -70,931
Manning service costs and other non-obligatory personnel costs -7,970 -8,000
Vessel insurances, repairs and maintenance costs -25,054 -24,651
Catering costs -9,801 -10,585
IT costs -2,931 -3,237
Sales and marketing costs -3,397 -3,055
Real estate costs excluding rents and leases -4,284 -4,945
Other costs -8,933 -8,595
-165,850 -199,113
Manning service costs and other non-obligatory personnel costs are net of German government grants relating to shipping
personnel being a fixed sum per employee depending on which level the employee is working.
(figures in EUR thousand, if not stated otherwise)
FINNLINES PLC Financial Statements 2010
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