Annual Report 2010 - Savatech

ANNUAL REPORT 2010 ∂ FINANCIAL REPORT2.4.18LABOUR COSTSIn comparison with the previous year, labour costsincreased by 10.5% on average. The companyshowed computed premiums for voluntary additionalpension insurance in the amount of €269 thousandand provisions for additional payments in accordancewith managerial work contracts.2.4.19AMORTISATION AND DEPRECIATIONEXPENSE, WRITE-OFFSThe cost of write-offs totalling €3,603 thousandrepresented the cost of depreciation, impairment oftangible fixed asset, and impairments of inventoriesand receivables.2.4.20OTHER OPERATING EXPENSESOther operating expenses in the amount of €1,121thousand included costs of provisions for retirementamounts and anniversary rewards, provisions forclaimed products, paid contributions for urban land,environmental levies and environmental protectioncosts.2.4.21FINANCIAL REVENUES FROMGRANTED LOANS2.4.22FINANCAL REVENUES FROMOPERATING RECEIVABLESFinancial revenues from operating receivables in theamount of €730 thousand were interest and exchangerate gains/losses to customers.2.4.23FINANCIAL EXPENSES FROMFINANCIAL LIABILITIESFinancial expenses from financial liabilities in theamount of €862 thousand represented interestexpenses from received loans.2.4.24 FINANCIAL EXPENSESFROM OPERATING LIABILITIESFinancial expenses from operating liabilities in theamount of €512 thousand included exchange rategains/losses from receivables and debts fromoperations.2.4.25OTHER REVENUESAND OTHER EXPENSESOther revenues included received compensationsfrom insurance companies; other expenses includedexpenses for paid fines and compensations.Financial revenues from loans in the amount of €658thousand included charged interest on loans to theGroup companies, and interest from a vista funds atbanks.70