2005 Annual Report Julius Baer Holding Ltd. - GAM Holding AG

Corporate Center
Comparable pro-forma figures for 2004 are not available. The restatement of figures for 2004 relates to
the IFRS changes (cf. page 78 ff.).
2004 2005 Change Change
CHF m
restated
CHF m CHF m %
Operating income 59.9 77.5 17.6 29.4
Personnel expenses 1 177.2 233.4 56.2 31.7
General expenses 1 128.7 141.2 12.5 9.7
Services to/from other business lines -208.1 -229.4 -21.3 10.2
Depreciation and write-offs
of non-current assets 1 25.7 73.5 47.8 186.0
Valuation adjustments, provisions, losses -3.0 1.1 4.1 -
Operating expenses 120.5 219.8 99.3 82.4
Net profit before taxes per business line -60.6 -142.3 -81.7 -
Net profit before taxes per business line 2 -60.6 -85.0 -24.4 40.3
31.12.2004 31.12.2005 Change Change
%
Number of employees (FTE) 859 788 -71 -8.3
Allocated FTE to business lines -526 -395 131 24.9
Total (FTE) 333 393 60 18.0
1 In relation to the integration, the following costs incurred: within personnel expenses CHF 2.2 million, within general
expenses CHF 14.9 million and within depreciation CHF 35.4 million.
2 Excluding amortization of intangible assets and significant financial events.
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