ANNUAL REPORT 2014 BLOKKER HOLDING
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Notes to the consolidated income statement

FOR 2014/15




Converted to full-time equivalents (FTEs), the total number of employees is 13,063 (2013/14: 16,260).

* Operating income before interest, tax, depreciation and amortisation.

AUDIT FEES
The fees payable to BDO and other auditors pursuant to Section 382a, Book 2 of the Dutch Civil Code can be specified as follows:



Please note: Figures for 2014/15 are exclusive of Casa (2013/14: EUR 138,000) and Groenblok (2013/14: EUR 25,000).

TAX
The effective tax rate for the 2014/15 financial year is 21.9% (2013/14: 20.5%).

REMUNERATION OF MANAGING DIRECTORS AND SUPERVISORY DIRECTORS
The income statement includes an amount, also covering pension contributions, of EUR 2.6 million (2013/14: EUR 2.2 million) for the remuneration of the current and former Managing Directors of Blokker Holding B.V. This includes the amount pursuant to Section 32bd of the Income Tax Act 1964 [Wet op de Loonbelasting 1964] [crisis tax]. 

For the remuneration of the Supervisory Directors of Blokker Holding B.V., an amount of EUR 189,000 (2013/14: EUR 191,000) was payable by the company for the 2014/15 financial year.

DECONSOLIDATION OF BUSINESS ACTIVITIES
At the beginning of the 2014/15 financial year, the managerial control over Casa Holding B.V. and its associates was transferred to an affiliated company outside the Blokker Holding B.V. group. In addition, the shares in Groenblok B.V. and its associates were sold effective 30 June 2014. On this basis, the above-mentioned companies are no longer included in the consolidation as of the dates stated.

The tables below and on the next page show the impact of this deconsolidation on various key data for both 2014/15 and 2013/14:

A loss of EUR 7.5 million was incurred following the sale of Groenblok B.V. and its associates. (accounted for under ‘Income from associates’); no tax is to be offset on this amount. The deconsolidation of Casa Holding B.V. had no effect on income in 2014.

The table below shows the effect of the deconsolidation of Casa and Groenblok on the key figures of Blokker Holding B.V. for 2014/15 and 2013/14.

* Operating income before interest, tax, depreciation and amortisation.