PERSONNEL COSTS

 

Personnel costs went up from € 9,202 thousand in 2009 to € 9,313 thousand in 2010 with a rise of € 111 thousand. The item includes the notional cost of € 4,335 thousand (€ 5,455 thousand in 2009) of the valuation of the stock options of the plans currently in existence approved after November 7 2002. It should be noted that last year this item included income of € 1,130 thousand from the release of a provision made at December 31 2008  from the conversion of the Phantom stock options assigned on May 15 2007, October 15 2007, May 16 2008 and October 16 2008 into stock option plans as per the AGM resolution adopted on April 30 2009.

 

The chart below shows the changes in the number of employees in the different categories during the year:

 

31.12.2009

Hires

Departures

31.12.2010

Average

for the year

Executives

12

--

1

11

12

Managers and Office Staff

17

--

-

17

17

Total

29

--

1

28

29