Page 113 - Annual Report 2010

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Financial Statements

7.4 Net gain/ loss on financial operations

Net gains/(losses) on financial operations amounting to EUR 2 180 690 (2009: EUR (1 351 432)) corresponds to realised gains/(losses) on the debt securities portfolio of EUR 2 002 257 (2009: EUR (1 328 508)) and gains/(losses) arising from transactions or cash positions in foreign currencies of EUR 178 432 (2009: EUR (22 924)).

7.5 Other operating income

Other operating income includes rent from leased office space. Income relating to these operating leases amount to EUR 326 000 (2009: EUR 0).

EUR Less than 1 year 1 to 5 years More than 5 years Total

2010 579 294 868 940 - 1 448 234 2009 - - - -

Future minimum lease payments under non-cancellable operating leases

7.6 General administrative expenses

Wages and salaries include expenses of EUR 2 797 706 (2009: EUR 3 080 059) incurred in relation to staff sec-onded from the EIB.

Key management compensation, including pension, for the year is EUR 1 624 894 (2009: EUR 1 573 758).

Other administrative expenses include rents for office space leased. Expenses relating to these operating leases amount to EUR 1 950 334 (2009: EUR 1 048 434).

EUR Less than 1 year 1 to 5 years Total

2010 2 669 948 3 577 142 6 247 090 2009 1 764 628 2 280 726 4 045 354

Future minimum lease payments under non-cancellable operating leases

The number of persons, including 4 EIB secondees (2009: 8 EIB secondees), employed at the year-end is as follows:

EUR 2010 2009

Chief Executive/Deputy Chief Executive 2 2 Employees 213 185

Total 215 187

Average of the year 196 172