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Financial statements 2011
7.4 Net gain/ (loss) on financial operations
Net gain/(loss) on financial operations amounting to EUR (74 237) (2010: EUR 2 180 690) corresponds to realised
gains on the debt securities portfolio of EUR 82 215 (2010: EUR 2 002 257) and gains/(losses) arising from transac-
tions or cash positions in foreign currencies of EUR (156 452) (2010: EUR 178 432).
7.5 Other operating income
Other operating income includes rent from leased office space. Income relating to these operating leases amount to
EUR 667 995 (2010: EUR 326 000).
7.6 General administrative expenses
Wages and salaries include expenses of EUR 2 075 956 (2010: EUR 2 797 706) incurred in relation to staff seconded
from the EIB.
The number of persons, including 4 EIB secondees (2010: 4 EIB secondees), employed at the year-end is as follows:
EUR
2011
2010
Chief Executive/Deputy Chief Executive
2
2
Employees
227
213
Total
229
215
EIF has identified members of the Board of Directors, members of the Audit Board and members of the Management
Team as key management personnel.
The compensation paid in 2011 to the key management as defined above, representing salaries and pension for the
member of the Management Team and attendance fee for the others, amounts to EUR 2 091 476 (2010: EUR 1 875 563).
Other administrative expenses include rents for office space leased. Expenses relating to these operating leases amount
to EUR 2 679 680 (2010: EUR 1 950 334).
Future minimum lease payments under non-cancellable operating leases
EUR
Less than 1 year
1 to 5 years
Total
2011
2 697 851
3 514 930
6 212 781
2010
2 669 948
3 577 142
6 247 090