Annual Report 2010 - AdP

Regarding staff costs, there was a significant reduction in the main indexes and financial ratios in 2010. In fact, total staff costs fell by
7%, while the average annual cost per employee fell 16.5%.
27.43% 27.31% 27.24%
2004 2005 2006 2007 2008 2009 2010
48,006,818
4,487,972
Staff Costs / Turnover
POC Accountancy
Framework
25.17%
23.21%
Staff Costs by BU
(euros)
31,509,792
4,737,661
47,031,787
23.92%
23.97%
IFRS Accountancy
Framework
10,812,530
20.23%
146,586,559
UNA-PD UNA-DR EPAL UNI UNR Corporate AdP Group
2004 2005 2006 2007 2008 2009 2010
POC Accountancy
Framework
IFRS Accountancy
Framework
Note (1): the amounts set out above include, in addition to all remuneration, all associated social charges (single social tax, health insurance, life insurance, etc.). Note
(2): the Average Monthly Cost per Employee was calculated on the basis of 14 months salary per year. Note (3): The amounts up to 2009 were based on the POC
and those of 2010 on the IFRS. To allow for comparison the 2009 figures have also been expressed based on IFRS.
6.2. Research and Development
The most relevant aspects of activities undertaken in the 2010 financial year are set out below, demonstrating the group’s alignment
with the guidelines set out in the PEAASAR II that contribute most towards the national Technology Plan.
“Cooperation (…) with university and research institutions of relevance to the water and
sanitation field with the objective of setting up partnerships taking into consideration the 7th FP”
The following table refers to the projects that AdP has been directly involved in or in which it provided leverage for the involvement
of its subsidiaries, almost always as beneficiaries.
Regarding the 7th Framework Programme (7th FP), the work carried out in the financial year of 2010 covered six European consortia,
and was aimed at developing relevant knowledge for the AdP Group, and also support to a qualified participation of national scientific
teams.
69.83%
Staff Costs/ EBITDA
64.06% 66.36% 63.68%
47.40%
59.44%
41.63%
52.90%
Staff Costs 2004 2005 2006 2007 2008 2009 2010
Accounting standards POC POC POC POC POC POC IFRS IFRS
Staff costs (million €) 114.20 126.40 145.10 139.30 142.68 157.71 157.71 146.59
Average annual cost per employee (€) 23,244 24,704 27,204 26,780 25,709 30,035 30,035 25,070
Average monthly cost per employee (€) 1,660 1,765 1,943 1,913 1,836 2,145 2,145 1,791
Staff costs/ Turnover 27.43% 27.31% 27.24% 25.17% 23.21% 23.92% 23.97% 20.23%
Staff costs/ EBITDA 69.83% 64.06% 66.36% 63.68% 47.40% 41.63% 59.44% 52.90%
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