56
57
Interim Financial Statements
Out of the above mentioned parent company guarantees:
-
€
821.09 mio are parent company guarantees for bank loans of the Group’s subsidiaries and
-
€
611.80 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.
8.29 Capital Expenditure
The Group realized capital expenditures for the six month period ended June 30, 2016 of
€
47.522 thousands which relate to
investments of the energy division (
€
18.095 thousands for the six month period ended June 30, 2015).
8.30 Post – Balance Sheet events
On 5/7/2016, the General Commercial Registry announced the definite settlement of the company “KATAVATIS RENEWABLE
ENERGY SOURCES S.A.”.
MYTILINEOS GROUP
MYTILINEOS S.A.
(Amounts in thousands
€
)
30/06/2016
30/06/2015
30/06/2016
30/06/2015
Stock Sales
Subsidiaries
-
-
-
7.333
Other Related parties
149
-
-
-
Total
149
-
-
7.333
Stock Purchases
Subsidiaries
-
-
-
7.321
Total
-
-
-
7.321
Services Sales
Subsidiaries
-
-
6.210
6.056
Other Related parties
4
-
-
-
Total
4
-
6.210
6.056
Services Purchases
Subsidiaries
-
-
3.332
3.871
Management remuneration and fringes
8.578
10.964
1.365
1.761
Other Related parties
2.390
-
237
-
Total
10.968
10.964
4.935
5.632
MYTILINEOS GROUP
MYTILINEOS GROUP
(Amounts in thousands
€
)
30/06/2016
31/12/2015
30/06/2016
31/12/2015
Loans received from Related Parties
Subsidiaries
-
-
147.883
152.661
Total
-
-
147.883
152.661
Balance from sales of stock/services receivable
Subsidiaries
-
-
67.772
42.096
Management remuneration and fringes
-
-
-
-
Other Related parties
1.405
731
-
2
Total
1.405
731
67.772
42.098
Guarantees granted to related parties
Subsidiaries
-
-
1.432.888
1.457.838
Total
1.432.888
1.457.838
0
367
Balance from sales/purchases of stock/services payable
65
65
Subsidiaries
-
-
367
4.337
Management remuneration and fringes
3,1
65
54
65
54
Other Related parties
3.081
45
97
44
Total
3.146
99
529
4.435
8.28 Related Party Transactions according to IAS 24
