16 Personnel Expenses
in € million |
2018 |
2019 |
|---|---|---|
|
|
|
Wages and salaries |
423.3 |
436.7 |
Social security, pensions and other employee benefits |
89.8 |
99.0 |
|
513.1 |
535.7 |
|
|
|
The personnel expenses include expenses for severance payments in the amount of € 3.1 million (2018: € 6.8 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 2.3 million (2018: € 3.0 million) and expenses for the long-term incentive plan (LTIP) at € 15.3 million (2018: € 7.2 million) (see chapter [D38] Provisions).
In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 37.9 million (2018: € 33.2 million).
As of December 31, 2019, Vonovia had 10,345 employees (Dec. 31, 2018: 9,923) with the annual average coming to 10,114 employees (2018: 9,757). Vonovia also employed 473 apprentices as of December 31, 2019 (Dec. 31, 2018: 485).