116
117
Annual Financial Statements
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Stock Sales
Subsidiaries
-
-
13,523
14,410
Total
-
-
13,523
14,410
Stock Purchases
Subsidiaries
-
-
13,501
14,386
Total
-
-
13,523
14,386
Services Sales
Subsidiaries
-
-
12,191
23,406
Other Related parties
193
-
-
-
Total
193
-
12,191
23,406
Services Purchases
Subsidiaries
-
-
7,283
8,504
Management remuneration and fringes
17,976
15,286
3,280
2,952
Other Related parties
4,189
-
471
-
Total
22,165
15,286
11,034
11,456
MYTILINEOS GROUP
MYTILINEOS S.A.
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Balance from sales of stock/services receivable
Subsidiaries
-
-
42,096
14,152
Other Related parties
731
-
2
-
Total
731
-
42,098
14,152
Guarantees granted to related parties
Subsidiaries
-
-
1,457,838
1,107,881
Total
-
-
1,457,838
1,107,881
Balance from sales/purchases of stock/services
payable
Subsidiaries
-
-
4,337
8,791
Management remuneration and fringes
-
-
54
64
Other Related parties
45
-
44
-
Total
45
-
4,435
8,855
4.34 Related Party transactions
The above mentioned related party transactions are on a pure commercial basis. The Group or any of its related parties has not entered
in any transactions that were not in an arm’s length basis, and do not intent to participate in such transactions in the future. No transaction
from the above mentioned had any special terms and there were no guarantees given or received.
Out of the above mentioned parent company guarantees:
-
€
811.43 mio are parent company guarantees for bank loans of the Group’s subsidiaries and
-
€
646.41 mio are parent company guarantees on behalf of customers and suppliers of the Group’s subsidiaries.
It is noted that the above amount of guarantees issued by the parent on behalf of customers and suppliers of its subsidiaries,
refers to the maximum amount of the guarantee and the respective risk undertaken by the parent regardless of the probability of
realization of said risk.
The parent company assesses the price that shall be invoiced to its subsidiaries for guarantees issued by the parent on behalf
of them based on generally accepted pricing methods. In cases where such pricing exceeds the amount of the already agreed
and charged management fees, there will be an incremental charge to cover the difference.
The above mentioned related party transactions are on a pure commercial basis. The Group or any of its related parties has not
entered in any transactions that were not in an arm’s length basis, and do not intent to participate in such transactions in the
future. No transaction from the above mentioned was under any special terms.
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
31/12/2015
31/12/2014
31/12/2015
31/12/2014
Short term employee benefits
- Wages and Salaries and BOD Fees
17,225
14,599
2,999
2,659
- Insurance service cost
690
674
281
293
17,915
15,273
3,280
2,952
Pension Benefits:
- Defined benefits scheme
52
3
-
-
- Defined contribution scheme
9
9
-
-
Total
17,976
15,286
3,280
2,952
No loans have been given to members of the Board of Directors or other management members of the Group (and their families).
