CREDIt RAtING OF ANADOLU EFES

Anadolu Efes Biracılık ve Malt Sanayii Anonim Şirketi
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As at December 31, 2010
(Currency - Unless otherwise indicated thousands of Turkish Lira (TRL))
NOTE 29. OPERATING EXPENSES (continued)
b) General and Administration Expenses
2010 2009
Personnel expenses 168.112 143.968
Services rendered from outside 70.158 68.471
Taxation (other than on income) expenses 19.209 18.031
Depreciation and amortization expense on PP&E and intangible assets 16.793 15.973
Utilities and communication expenses 10.720 9.445
Insurance expenses 6.414 7.298
Provision for retirement pay liability 5.882 4.403
Meeting and travel expenses 4.384 3.919
Repair and maintenance expenses 3.694 3.319
Other expenses 48.585 47.267
NOTE 30. EXPENSES BY NATURE
a) Depreciation and Amortization Expenses
353.951 322.094
2010 2009
Cost of sales (157.794) (134.821)
Marketing, selling and distribution expenses (126.365) (114.286)
General and administration expenses (16.793) (15.973)
Other operating expenses (79) (477)
b) Personnel Expenses
(301.031) (265.557)
2010 2009
Cost of sales (108.967) (101.978)
Marketing, selling and distribution expenses (194.726) (168.543)
General and administration expenses (168.112) (143.968)
(471.805) (414.489)
ANADOLU EFES ANNUAL REPORT 2010
197