Shareholders, Supervisory Board and management bodies ...

02
Annual Report 2008
Management report
Business performance
in 2008
28
Annual Report 2008
2.2.2 Expenses
Personnel expenses represented 53.3% of operating income in 2008 (2007: 49.7%). Cost of materials
and other supplies was equal to 20.6% of operating income — down from 24.6% in the previous
year. The Group’s cost structure improved as it reflected increased use of the core resource —
personnel — and lower transitory costs. The decrease in other operating expenses to EUR 20.3m
(2007: EUR 26.7m) is due to the allocation to provisions for remediation of the Seibersdorf site
(approx. EUR 3.1m), the fact that the allocation to warranty provisions in 2007 was not repeated in
the year under review, and savings on various other expense items. The annual result is positive by
EUR 4.5m, and represents a marked improvement on the previous year.
EUR '000
2007
2008
Total operating income 126,329 119,429
Cost of materials -7,747 -6,702
Other supplies -23,151 -17,909
1. Cost of materials and other supplies -30,898 -24,611
2. Personnel expenses -62,785 -63,661
3. Depreciation and amortisation -7,507 -7,423
4. Other operating expenses -26,742 -20,265
Total operating expenses -127,932 -115,960
Earnings before interest and tax -1,603 3,469
Financial result 373 1,008
POA -1,230 4,476
Income/expenses relating to other periods, and minority interests 3 47
Profit/loss for the year/period -589 0
Movements in reserves -1,816 4,523
Profit/loss brought forward -6,037 -7,853
Accumulated profit/loss -7,853 -3,330