Development of personnel expenses

Our personnel expenses fell by 2.9 per cent to €5.4 billion (9M 2012: €5.6 billion) compared with the previous year’s period. Of this total, €4.4 billion (9M 2012: €4.6 billion) was attributable to wages and salaries, including income taxes and employees’ contributions to social insurance programmes. The rest was attributable to social welfare contributions, pension expenses and employee benefits.

We encourage our staff to set up their own private pension accounts. Our group-wide future package provides them with voluntary benefits that exceed collective bargaining standards generally seen in the industry. In the reporting year, 55,064 employees in Germany took advantage of these benefits (9M 2012: 55,579 employees). This represents a share of 53.9 per cent (9M 2012: 53.9 per cent).

Additional information about personnel expenses is available in the notes to the consolidated financial statements in no.16 “Personnel expenses”.