Page 88 - InterEnergo - Annual Report 2020
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Interenergo                       Accounting report                                                                    Interenergo                       Accounting report

            Revenue from commission services are recognized on a net basis, in the amount of the commission to which it            The costs of professional services increased in 2020 mainly because of advisory services in connection with
            is entitled on the basis of a contract in which the Company acts as a commission agent who performs electricity        new investments (2020: EUR 363,038, 2019: EUR 144,334). The costs of audit services amounted in the reporting
            trading in its name for the client’s account. As the Company does not bear the risk of losses that must be             period to EUR 23,550 (2019: EUR 16,900), whereof EUR 21,550 (2019: EUR 14,900) refers to auditing of the
            settled by the client based on the contract, the Company acts as an agent in this contract.                            annual report and EUR 2,000 (2019: € 2,000) to other assurance-related services. KPMG did not perform any
                                                                                                                                   non-audit services for the Company.
            Revenue from the sale of other services include energy services, trading services and engineering services.

            2.4.17  Cost of goods sold and cost of material                                                                        2.4.19  Personnel costs

                                                                                                                                     in EUR                                                                    2020            2019
             in EUR                                                                     2020            2019
                                                                                                                                     Personnel costs                                                       -2,414,520     -4,306,620
             Purchase cost of goods sold and material used                        -448,688,524    -682,607,737
                                                                                                                                      Salaries                                                             -1,791,152      -3,801,088
               Purchase cost of goods sold                                        -448,479,230    -682,274,599
                                                                                                                                      Pension and social insurance costs                                    -447,375        -355,926
               Costs of material used                                                -209,293        -132,051
                                                                                                                                      Other personnel costs                                                 -175,993        -149,606
               Effects of standardized futures contracts                                   0         -201,088

                                                                                                                                   As at 31 December 2020, the Company recorded 44 full-time employees (2019: 37), who in terms of full working
            Costs of goods, which include the electricity purchases, cross-border transmission capacities and trading costs,
            have declined by 34% over the previous period. The aforesaid is primarily due to the fact that the Company             time equal 43.875 employees. Relative to 2019, the personnel costs declined due to lower variable remuneration
            transferred part of its electricity trading from the physical market to the financial market, where it trades in       of employees, which depends on the Company’s business results. The Company formed no provisions for jubilee
            standardized futures contracts on the EEX, and revenue and expenses thereunder are shown in Company’s                  premiums and retirement benefits, as the amount is insignificant in view of the number and age of employees.
            financial statements at netted amount.                                                                                 The Company is run by two Managing Directors and two holders of procuration. Remuneration of management
                                                                                                                                   members, which includes gross salaries, other work-related remuneration, bonuses and premiums for voluntary
            Costs of material used comprise costs of energy systems, costs of fuel, of energy used, office stationary and
            professional literature, and write-off of small tools.                                                                 supplementary pension insurance, amounted to EUR 198,389 in 2020 (2019: EUR 264,782). Remuneration
                                                                                                                                   of other employees employed under contracts for which the tariff part of the collective agreement does not
                                                                                                                                   apply, amounted to EUR 1,004,650 (2019: EUR 570,421). In 2020 and 2019, no remuneration was paid to the
            2.4.18  Cost of services                                                                                               members of the Supervisory Board.

                                                                                                                                   Educational structure of staff
             in EUR                                                                     2020            2019
             Costs of services                                                      -2,271,012     -2,090,486
                                                                                                                                                                               No. of employees*          Average no. of employees *
               Consultancy services                                                  -785,703        -583,473
                                                                                                                                                                           31 Dec 2020     31 Dec 2019          2020           2019
               Costs of maintenance                                                  -320,088        -252,795
                                                                                                                                     Secondary school education (level V)           3              1              2               1
               Bank fees                                                             -241,644        -238,937
                                                                                                                                     1st level university education (level VI.1, VI.2)  20        17            18.5             14
               Rents                                                                 -219,879        -213,559
                                                                                                                                     2nd level university education (level VII.)  18.875          17          17.938             17
               Costs of student work                                                 -164,741        -135,647
                                                                                                                                     Master's degree (level VIII.1)                 1              2             1.5            2.5
               Insurance costs                                                       -126,929        -138,561
                                                                                                                                     Ph.D. (level VIII.2)                           1              0             0.5              0
               Marketing costs                                                        -75,920        -169,115
                                                                                                                                     Total                                      43.875            37          40.438           34.5
               Reimbursement of work-related costs to employees                       -35,102         -91,291
               Other costs of services                                               -301,005        -267,106                      * Full time equivalent.

            86    Integrated Annual Report 2020                                                                                                                                                       Integrated Annual Report 2020  87
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