4. General administrative expenses

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€ million

9M 2013

12M 2012/13

12M 2013/14

Personnel expenses

581

778

765

Cost of material

463

711

643

 

1,044

1,489

1,408

The decline in general administrative expenses is primarily due to the disposal of Real’s Eastern European business operations.

In this context, the item “cost of material” included higher impairment losses and consulting expenses in the previous year.