METRO maintained the following business relations to related companies:
|
2022/23 |
2023/24 |
||||||
|---|---|---|---|---|---|---|---|---|
€ million |
Total |
Associates |
Joint ventures |
Miscellaneous related parties |
Total |
Associates |
Joint ventures |
Miscellaneous related parties |
Services provided |
55 |
55 |
1 |
0 |
30 |
29 |
1 |
0 |
General services |
(7) |
(6) |
(1) |
(0) |
(1) |
(0) |
(1) |
(0) |
Lease services |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
Other services |
(50) |
(50) |
(0) |
(0) |
(28) |
(28) |
(0) |
(0) |
Services received |
82 |
75 |
4 |
3 |
90 |
83 |
3 |
3 |
General services |
(11) |
(7) |
(4) |
(0) |
(9) |
(6) |
(3) |
(0) |
Lease services |
(61) |
(58) |
(0) |
(3) |
(70) |
(67) |
(0) |
(3) |
Other services |
(10) |
(10) |
(0) |
(0) |
(11) |
(11) |
(0) |
(0) |
Receivables from services provided as of 30/9 |
5 |
5 |
0 |
0 |
2 |
2 |
0 |
0 |
General services |
(4) |
(4) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
Lease services |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
Other services |
(1) |
(1) |
(0) |
(0) |
(1) |
(1) |
(0) |
(0) |
Liabilities from services received as of 30/9 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
General services |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
(0) |
Dividends received |
13 |
12 |
1 |
0 |
20 |
19 |
1 |
0 |
Transactions with associates and other related parties
The direct shareholder of METRO AG is EP Global Commerce GmbH (EPGC), Grünwald, which is indirectly a wholly owned subsidiary of EP Global Commerce a.s. (EPGC a.s.), Prague, Czech Republic. Mr Křetínský holds a 53% and Mr Tkáč indirectly holds a 47% interest in EPGC a.s.
According to the 2 voting rights notifications of 29 December 2020, Mr Křetínský and Mr Tkáč agree on the exercise of voting rights at the level of EPGC a.s. within the meaning of § 34 Section 2, Sentence 2, of the WpHG or otherwise cooperate with the aim of permanently and significantly changing the entrepreneurial direction of METRO AG.
According to the information on the dividend payment resolved at Annual General Meeting 2024 on 12 February 2024, Mr Křetínský and Mr Tkáč held 180,026,758 ordinary shares and 322,419 preference shares via the chain of controlling companies described above. This corresponds to around 49.99% of voting rights. Given the normal attendance at Annual General Meetings, dependence on the above companies and individuals (controlling parties) under commercial and stock corporation law can therefore be presumed.
METRO is not aware of one of the controlling parties preparing consolidated financial statements for a larger group of companies in which METRO AG is included.
The services provided relate mainly to an existing collaboration with Košík Holding a.s. In the previous year, services from existing business relations with METRO GROUP Commerce (Shanghai) Co., Ltd. (formerly METRO China) had been included on the basis of a service level agreement and the granting of brand licences.
The balance sheet reports lease liabilities of €424 million (2022/23: €446 million) and rights of use of €372 million (2022/23: €394 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 €0 million (2022/23: €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 2023/24.
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.
The expenses for members of the Management Board of METRO AG amounted to €8.5 million (2022/23: €8.0 million) for short-term benefits, as well as €5.8 million for termination benefits (2022/23: €5.1 million) and €0.5 million (2022/23: €0.6 million) for post-employment benefits. The expenses for long-term benefits amounted to €3.4 million (2022/23: €3.0 million). Income of €5.1 million (2022/23: €0.6 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 (2022/23: €2.4 million).
The total remuneration for members of management in key positions amounted to €15.4 million (2022/23: €18.6 million).