Page 332 - 2012 Annual Report

332 VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
IV - VIVENDI SA 2012 STATUTORY FINANCIAL STATEMENTS
3. NOTES TO THE 2012 STATUTORY FINANCIAL STATEMENTS
Note 2 Operating Earnings/(Loss)
Note 2. Operating Earnings/(Loss)
2.1. REVENUES
(in millions of euros) 2012 2011
Purchases consumed 0.6 0.6
Rent 8.4 7.7
Insurance (a) 24.3 12.1
Service providers, temporary staff and sub-contracting 7.7 7.0
Commissions and professional fees 45.3 51.6
Bank services 31.6 23.0
Other external services 18.4 20.0
Sub-total other purchases and external charges 136.3 122.0
Amounts rebilled to subsidiaries (7.7) (9.7)
Expense reclassifications (24.0) (22.3)
TOTAL NET OF REBILLED EXPENSES AND EXPENSE RECLASSIFICATIONS 104.6 90.0
(a) The increase in the Insurance line item to €24.3 million in 2012, compared to €12.1 million in 2011, is primarily due to the premiums paid under
contracts in relation to the outsourcing of supplementary pension commitments for €15.0 million in 2012, compared to €4.5 million in 2011. In 2012,
the contributions made improved the coverage of these plans (please see Note 15, Provisions).
Revenues consist of revenues generated from services provided by Vivendi
to its subsidiaries for an amount of €116.0 million.
2.2. OPERATING EXPENSES AND EXPENSE RECLASSIFICATIONS
In 2012, operating expenses amounted to €225.7 million, compared to
€205.4 million in 2011.
Within this total, “other purchases and external charges” represent
€136.3 million in 2012, compared to €122.0 million in 2011.
Other purchases and external charges, completed with amounts rebilled
to subsidiaries (recorded in revenues) and expenses reclassifications
(recorded in reversal of provisions and expense reclassifications), are
broken-down as follows:
Within the operating expenses, “compensation and benefits” amounted
to €67.4 million in 2012, compared to €56.5 million in 2011; the increase
was mainly due to the severance pay of two Directors, for €7.8 million, of
which €3.1 million was re-invoiced back to a subsidiary (this chargeback
is recorded in the Statement of Earnings as “Income”).