Annual Report 2006 – Financial Section - Quilvest

Notes to the Consolidated Financial Statements (continued)
26) Other Operating Income
in $ '000 2006 2005
Decrease / (increase) in allowance for doubtful other receivables (2) 925
Loss from disposal of property, plant and equipment and intangible assets - (32)
Rental income 343 397
Management Fees 1,805 2,468
Income from carried shares 9,479 1,704
Change in fair value of investment property 284 -
Other income 5,836 6,481
Total Other Operating Income 17,745 11,943
27) General Administrative Expenses
Administrative expenses which include the costs of making and managing investments, administrative costs related to the
banking activities and the corporate management of the Group are accounted for on an accrual basis.They also include
personnel costs, external consultancy fees and office expenses.
in $ '000 2006 2005
Personnel
Salaries and wages (19,119) (18,028)
Pension expense - Defined benefit plans (292) (1,373)
Pension expense - Defined contributions plans (32) -
Social contributions (5,985) (3,866)
Variable compensation (staff and management bonus) (15,687) (3,435)
Other personnel costs (1,373) (1,526)
Expenses related to share based payment schemes (688) -
Total (43,176) (28,228)
Other administrative expenses
External consultancy Fees (3,877) (4,167)
Rental expense (2,128) (2,574)
Management fees (147) (5,148)
Set up fees (270) (832)
Other administrative expenses (30,853) (21,480)
Total (37,275) (34,201)
Total General Administrative Expenses (80,451) (62,429)
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