49. Notes on related parties
In financial year 2018/19, METRO maintained the following business relations to related companies:
€ million |
2017/18 |
2018/19 |
|---|---|---|
Services provided |
8 |
8 |
Associates |
5 |
5 |
Joint ventures |
3 |
3 |
Miscellaneous related parties |
0 |
0 |
Services received |
96 |
93 |
Associates |
78 |
76 |
Joint ventures |
8 |
7 |
Miscellaneous related parties |
10 |
10 |
Receivables from services provided, as of 30/9 |
0 |
0 |
Associates |
0 |
0 |
Joint ventures |
0 |
0 |
Miscellaneous related parties |
0 |
0 |
Liabilities from goods/services received as of 30/9 |
1 |
1 |
Associates |
0 |
0 |
Joint ventures |
0 |
0 |
Miscellaneous related parties |
1 |
1 |
Transactions with associated companies and other related parties
The services received totalling €93 million (2017/18: €96 million) that METRO companies received from associates and other related parties in financial year 2018/19 consisted mainly of real estate leases in the amount of €79 million (2017/18: €80 million), thereof €76 million from associates; (2017/18: €78 million) and the rendering of services in the amount of €15 million (2017/18: €16 million), thereof €7 million from joint ventures; (2017/18: €8 million).
Other future financial commitments in the amount of €667 million (2017/18: €719 million) consist of tenancy agreements with the following associated companies: OPCI FWP France, OPCI FWS France, Habib METRO Pakistan and the Mayfair group.
In financial year 2018/19, METRO companies provided services to companies belonging to the group of associates and related parties in the amount of €8 million (2017/18: €8 million).
A dividend of €38 million has been paid out to a shareholder with significant influence.
Business relations with related parties are based on contractual agreements providing for arm’s length prices. As in financial year 2017/18, there were no business relations with related natural persons and companies of management in key positions in financial year 2018/19.
Related persons (compensation for management in key positions)
The management in key positions consists of members of the Management Board and the Supervisory Board of METRO AG.
Thus, the expenses for members of the Management Board of METRO AG amounted to €6.9 million (2017/18: €5.2 million) for short-term benefits and €3.7 million (2017/18: €7.0 million) for post-employment benefits. Thereof an amount of €3.0 million relates to termination benefits paid in financial year 2018/19. The expenses for existing compensation programmes with long-term incentive effect in financial year 2018/19, calculated in accordance with IFRS 2, amounted to €2.6 million (2017/18: €0.7 million).
The short-term compensation for the members of the Supervisory Board of METRO AG amounted to €2.2 million (2017/18: €2.2 million).
The total compensation for members of the Management Board in key positions in financial year 2018/19 amounted to €15.4 million (2017/18: €15.1 million).
- For more information about the basic principles of the remuneration system and the amount of Management Board and Supervisory Board compensation, see no. 51 – Management Board and Supervisory Board.