METRO maintained the following business relations to related companies:
€ million |
2021/22 |
2022/23 |
|---|---|---|
Services provided |
91 |
55 |
Associates |
86 |
55 |
Joint ventures |
2 |
1 |
Miscellaneous related parties |
4 |
0 |
Services received |
88 |
82 |
Associates |
80 |
75 |
Joint ventures |
5 |
4 |
Miscellaneous related parties |
4 |
3 |
Receivables from services provided as of 30/9 |
3 |
5 |
Associates |
3 |
5 |
Joint ventures |
0 |
0 |
Miscellaneous related parties |
0 |
0 |
Liabilities from services provided as of 30/9 |
0 |
0 |
Associates |
0 |
0 |
Joint ventures |
0 |
0 |
Miscellaneous related parties |
0 |
0 |
Dividends received |
14 |
13 |
Transactions with associates and other related parties
The provided services mainly result from the business relations existing until 30/4/2023 with METRO GROUP Commerce (Shanghai) Co., Ltd. (formerly METRO China) based on a service level agreement and the granting of brand licences.
In addition, this includes services from a collaboration with Kosik Holding which has existed since January.
The services received consisted of real estate leases in the amount of €61 million (2021/22: €67 million; thereof €58 million from associates; 2021/22: €65 million), €11 million (2021/22: €12 million) from services received (thereof €7 million from associates; 2021/22: €7 million; as well as €4 million from joint ventures; 2021/22: €5 million) and €10 million from other services from associates (2021/22: €8 million).
The balance sheet reports lease liabilities of €446 million (2021/22: €418 million) and corresponding rights of use of €394 million (2021/22: €363 million) from rental agreements with associates. It mainly concerned OPCI FWP France and OPCI FWS France.
Receivables from services provided were impaired in the amount of €1 million (2021/22: €1 million).
Business relations with related parties are based on contractual agreements providing for arm’s-length prices. As in the previous year, there were no business relations with related natural persons and companies of management in key positions in financial year 2022/23.
Related persons (remuneration for members of 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 €8.0 million (2021/22: €10.1 million) for short-term benefits, as well as €5.1 million for termination benefits (2021/22: €4.1 million) and €0.6 million (2021/22: €0.5 million) for post-employment benefits. The expenses for long-term benefits amounted to €3.0 million (2021/22: €0.0 million). Income of €0.6 million (2021/22: expenses of €0.5 million) was calculated for the share-based programmes with long-term incentive effect.
The short-term remuneration for the members of the Supervisory Board of METRO AG amounted to €2.4 million (2021/22: €2.3 million).
The total remuneration for members of management in key positions amounted to €18.6 million (2021/22: €17.6 million).