Committed to growth
EuroChem-2015-Annual-Report-v2
EuroChem-2015-Annual-Report-v2
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
27 Distribution costs<br />
Distribution costs were:<br />
2015 2014<br />
Transportation 435,562 521,438<br />
Export duties, other fees and commissions 2,476 2,125<br />
Labour, including contributions <strong>to</strong> social funds 56,700 69,682<br />
Depreciation and amortization 22,177 30,268<br />
Repairs and maintenance 7,932 12,404<br />
Provision/(reversal of provision) for impairment of receivables, net 8,517 1,399<br />
Other costs 32,938 56,529<br />
Total distribution costs 566,302 693,845<br />
28 General and administrative expenses<br />
General and administrative expenses were:<br />
2015 2014<br />
Labour, including contributions <strong>to</strong> social funds 86,221 108,492<br />
Depreciation and amortization 7,529 18,058<br />
Audit, consulting and legal services 25,000 24,935<br />
Rent 5,720 7,087<br />
Bank charges 5,205 5,842<br />
Social expenditure 2,963 4,191<br />
Repairs and maintenance 2,316 2,255<br />
Provision/(reversal of provision) for impairment of receivables, net 1,781 7,285<br />
Other expenses 31,256 37,723<br />
Total general and administrative expenses 167,991 215,868<br />
The <strong>to</strong>tal depreciation and amortization expenses included in all captions of the consolidated statement of profit or loss and other<br />
comprehensive income amounted <strong>to</strong> US$ 204,259 thousand (2014: US$ 267,254 thousand).<br />
Strategic Report Corporate Governance Financial Statements<br />
The <strong>to</strong>tal staff costs (including social expenses) included in all captions of the consolidated statement of profit or loss and other<br />
comprehensive income amounted <strong>to</strong> US$ 375,046 thousand (2014: US$ 486,690 thousand).<br />
The <strong>to</strong>tal statu<strong>to</strong>ry pension contributions included in all captions of the consolidated statement of profit or loss and other comprehensive<br />
income amounted <strong>to</strong> US$ 47,936 thousand (2014: US$ 75,211 thousand).<br />
The fees for the audit of the consolidated and statu<strong>to</strong>ry financial statements for the year ended 31 December 2015 amounted <strong>to</strong><br />
US$ 4,089 thousand (2014: US$ 3,062 thousand). The audi<strong>to</strong>rs also provided the Group with consulting and other services amounting<br />
<strong>to</strong> US$ 298 thousand (2014: US$ 1,009 thousand).<br />
29 Other operating income and expenses<br />
The components of other operating (income) and expenses were:<br />
2015 2014<br />
Sponsorship 12,020 17,528<br />
(Gain)/loss on disposal of property, plant and equipment and intangible assets, net 7,110 11,286<br />
Foreign exchange (gain)/loss from operating activities, net (53,124) (120,377)<br />
Provision/(reversal of provision) for impairment and write off of idle property plant and equipment, net 38 636<br />
(Gain)/loss on sales and purchases of foreign currencies, net (13,872) (6,820)<br />
Non-recurring income from settlement agreements and related expenses, net* (12,253) (50,400)<br />
Other operating (income)/expenses, net (11,601) (7,985)<br />
Total other operating (income)/expenses, net (71,682) (156,132)<br />
* This amount represents income of US$ 19,200 thousand from settlement agreements with counterparties concerning trading activities of the Group net of expenses<br />
of US$6,947 thousand relating <strong>to</strong> its recovery (2014: income of US$ 50,400 thousand).<br />
EuroChem Annual Report and Accounts 2015 103