2007 - Pinguely Haulotte

2007
annual report # p107-108
Consolidated financial statements of December 31st, 2007
to the total refinancing amount for capital lease agreements (note 3.7).
Note 32 - General and administrative expenses
31/12/2007 31/12/2006
Administrative expenses 33 254 27 208
Management expenses 11 142 7 946
Miscellaneous 4 902 4 162
Total 49 298 39 316
Note 33 - Research and development expenditure
31/12/2007 31/12/2006
Development expenditures recognized as intangible assets 533 892
Amortization of development expenditures (1 171) (832)
Research tax credit 296 923
Development expenditures recognized as expenses (6 768) (7 068)
Total (7 110) (6 085)
Note 34 - Exchange gains and losses
31/12/2007 31/12/2006
Currency losses (13 002) (4 063)
Currency gains 10 778 4 562
Total (2 224) 498
Realized and unrealized currency gains and losses from commercial transactions in foreign currencies presented above are recognized
under the operating margin.
In 2006 translation differences from hedging transactions for an amount of K€468 (currency gains) were recognized under financial
income and expenses (note 38).
Changes in this item consequently reflect the current account balance in pound sterling with the UK subsidiaries and unfavourable
foreign exchange trends for the US dollar and pound sterling over the period.
Note 35 - Expenses by nature in current operating income
The following recurring expenses included in the current operating income are allocated to the appropriate income statement headings
by function.
31/12/2007 31/12/2006
Raw materials and other consumables and changes in finished products (317 638) (251 645)
External charges (119 823) (89 642)
Taxes and related items (7 341) (5 376)
Staff costs (64 730) (53 881)
Net depreciation and impairment (21 332) (21 572)
Currency gains and losses (2 224) 498
Other operating expenses and income (1 378) (2 651)
Total expenses by nature (534 467) (424 269)
Note 36 - Staff costs
31/12/2007 31/12/2006
Salaries and wages 45 697 37 729
Social security and related expenses 16 263 12 904
Employee profit-sharing 2 396 2 781
Retirement indemnities 374 467
Total 64 730 53 881
Staff costs are allocated to the appropriate accounts of the income statement by function.