PDF - Part of the Annual Report - Ludwig Beck

44 | Management Report
Personnel
Due to cost reduction measures introduced during the
year, personnel expenses of Ludwig Beck AG were held
constant at € 19.3 (19.3) million.
This corresponded to 22.9% (22.3%) of net sales. Offset
by corresponding income amounts, this resulted in a ratio
of 22.4% (21.8%) of net sales.
The number of employees changed to a yearly average
figure of 626 (665), plus a total of 90 (82) apprentices.
Of this total, there were 293 (297) full-time staff, 226
(247) part-time staff and 107 (121) temporary staff.
Cost situation
With net sales of € 84.4 (86.5) million for Ludwig Beck
AG and a cost of sales figure of € 43.9 (44.5) million,
the company generated a gross margin of 47.9% (48.6%).
Further reductions were made to other operating expenses
– netted with corresponding revenues – during the past
fiscal year. They amounted to just € 13.2 (13.7) million
for Ludwig Beck AG, corresponding to a cost-to-sales ratio
of 15.6% (15.9%).
Cost structure Ludwig Beck Beck AG AG
(offset by by incomes) incomes) as as % of % net of net sales sales 1997 – 2001
Apart from the staff of Ludwig Beck AG, the Ludwig Beck
Group employs no further personnel.
3.5
5.5
7.8
7.5 6.4
18.6
17.9
16.0
15.9 15.6
3.7
3.3
3.3
3.4
3.5
21.9
21.6
21.2
21.8
22.4
52.3
51.7
51.7
51.4
52.1
97 98 99 00 01
EBIT
Other operating expenses
Depreciation
Personnel expenses
Material expenses