Porsche 2004 Annual Report Download - page 127
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123
(6) Other operating expenses
Other operating expenses include expenses for warranty commitments, administration and
sales, IT services as well as insurance policies, rent and expenses for various risks. Exchange
losses amount to T€ 10,962 (previous year: T€ 13,087).
The interest income is mainly attributable to fixed-interest securities and time deposits. In addition,
it includes income on interest-bearing receivables and loans. Interest and similar expenses
comprises interest expenses from operations, the issue of bonds and compounding of provisions.
The profit or loss from the sale of securities was generated exclusively by the disposal of
investments classified as available for sale.
2004/05 2003/04
T€ T€
Wages and salaries 828,131 814,407
Social security, pension and
other benefit costs 136,690 135,293
964,821 949,700
Employees (annual average)*
Wage earners 4,674 4,794
Salaried employees 6,835 6,501
Trainees and interns 345 330
11,854 11,625
*)including employees under the phased retirement scheme
(5) Personnel expenses
2004/05 2003/04
T€ T€
Income from equity investments 401 754
Other interest and similar income 171,954 130,220
Other interest and similar expenses – 126,523 – 80,694
Interest expenses from compounding of provisions – 31,933 – 30,021
Interest and similar expenses – 158,456 – 110,715
Other financial result 4,886 – 4,255
18,785 16,004
(7) Financial result