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4. General administrative expenses

General administrative expenses include personnel expenses in the amount of €483 million (2021/22: €568 million) as well as cost of material in the amount of €408 million (2021/22: €396 million).

The decline in personnel expenses for the current financial year primarily results from the decrease in variable payments as well as lower restructuring expenses.

In the previous year, personnel expenses had included the one-time expenses from the buyout of pension obligations in the United Kingdom.

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