Nota 28 Related party transactions
Trade transactions with subordinated entities
Trade transactions
| Revenue | Receivables | Purchases | Liabilities | |
|---|---|---|---|---|
| Balance at 31 December 2015 | ||||
| Related parties of Grupa Azoty KĘDZIERZYN | 3 760 | – | 26 327 | 2 223 |
| Related parties of Grupa Azoty POLICE | 5 590 | 307 | 13 122 | 1 488 |
| Related parties of Grupa Azoty PUŁAWY | 985 | – | 31 907 | 109 |
| Other related parties | – | – | 2 219 | 44 |
| 10 335 | 307 | 73 575 | 3 864 |
| Revenue | Receivables | Purchases | Liabilities | |
|---|---|---|---|---|
| Balance at 31 December 2014 | ||||
| Related parties of Grupa Azoty PKCh Sp. z o.o. |
4 | 8 | 34 | – |
| Related parties of Grupa Azoty POLICE | 4 014 | 345 | 11 809 | 2 432 |
| Related parties of Grupa Azoty PUŁAWY | 4 846 | 523 | 47 578 | 704 |
| Related parties of Grupa Azoty KĘDZIERZYN | 3 507 | 359 | 26 883 | 2 630 |
| Other related parties | – | 4 | 3 948 | 478 |
| 12 371 | 1 239 | 90 252 | 6 244 |
Other transactions
| Other income |
Other expenses |
Finance income |
Finance costs |
|
|---|---|---|---|---|
| Balance at 31 December 2015 | ||||
| Related parties of Grupa Azoty KĘDZIERZYN | 10 | – | 491 | – |
| Related parties of Grupa Azoty PKCh Sp. z o.o. |
91 | – | 45 | – |
| Related parties of Grupa Azoty POLICE | 2 909 | – | 296 | – |
| Related parties of Grupa Azoty PUŁAWY | 11 | – | – | – |
| Other related parties | 13 | – | 42 | – |
| 3 034 | – | 874 | – |
| Other income |
Other expenses |
Finance income |
Finance costs |
|
|---|---|---|---|---|
| Balance at 31 December 2014 | ||||
| Related parties of Grupa Azoty PKCh Sp. z o.o. |
– | – | 9 | 9 |
| Related parties of Grupa Azoty POLICE | – | – | 226 | – |
| Related parties of Grupa Azoty PUŁAWY | – | 9 | 301 | – |
| Related parties of Grupa Azoty KĘDZIERZYN | – | – | 463 | – |
| Other related parties | 10 | – | – | – |
| 10 | 9 | 999 | 9 |
Remuneration of the Parent Company’s Members of the Management Board
| For the period 01.01.2015 – 31.12.2015 |
za okres 01.01.2014 – 31.12.2014 |
|
|---|---|---|
| Short-term benefits | 9 113 | 9 674 |
| Post-employment benefits | 7 | 12 |
| Other long-term benefits | 5 | 16 |
| 9 125 | 9 702 |
Remuneration of the Parent Company’s Members of the Supervisory Board
| As at 31.12.2015 |
As at 31.12.2014 |
|
|---|---|---|
| Short-term benefits | 1 440 | 1 392 |
| 1 440 | 1 392 |
Remuneration of Management of the Group’s main subsidiaries (excluding Parent Company)
| As at 31.12.2015 |
As at 31.12.2014 |
|
|---|---|---|
| Short-term benefits | 11 064 | 9 170 |
| Post-employment benefits | 18 | 51 |
| Other long-term benefits | 155 | 229 |
| Termination benefits | 356 | – |
| 11 593 | 9 450 |
Bonuses for the Management Board members
In accordance with the resolution of the Supervisory Board dated 20 October 2011 on remuneration rules and amounts for members of the Management Board of the Parent Company, the members of the Management Board may receive the so-called “profit-based variable part of remuneration” (annual bonus) or a “special bonus”. Annual bonus is calculated individually for each Member of the Management Board, based on the evaluation of realisation of performance targets. The Supervisory Board may grant a special bonus, notwithstanding the criteria presented in the annual bonus regulations, based on the detailed analysis of realization of performance targets realization. The regulations concerning the annual bonus for Management Board were approved by the Supervisory Board on 13 February 2014.
Loans
In 2015 and 2014, the Group did not grant any loans to the members of the Management or the Supervisory Board.
Transactions with owners
In 2015, the Group received a loan from the EBRD of PLN 10 018 thousand. In 2014, the Group did not conclude any transactions with owners.
Transactions with the State Treasury related entities
Balance at 31 December 2015
| Name of entity | Value | Purpose of transaction |
|---|---|---|
| PGNiG | 1 346 188 | purchase of natural gas |
| Kompania Węglowa | 117 965 | purchase of coal |
| PKP Cargo | 106 249 | purchase of transport services |
| PKN Orlen | 260 685 | purchase of raw materials |
| Tauron | 64 972 | purchase of energy |
| PGE | 72 506 | purchase of energy |
| Enea | 13 614 | purchase of energy |
| KGHM Polska Miedź | 17 029 | purchase of raw materials |
| PSE | 54 589 | purchase of transmission of energy |
| LOTOS | 23 353 | purchase of raw materials |
| PKO BP | 455 109 | repayment of loan, loan taken |
| PZU Życie | 239 429 | repayment of loan |
| PZU | 20 410 | insurance |
| BGK | 219 271 | loan taken |
| 3 011 369 |
Balance at 31 December 2014
| Name of entity | Value | Purpose of transaction |
|---|---|---|
| PGNiG | 1 69 184 | purchase of natural gas |
| PKN Orlen | 334 102 | purchase of raw materials |
| PGE | 165 029 | purchase and sale of energy |
| Enea | 140 540 | purchase and sale of energy |
| Kompania Węglowa | 124 915 | purchase of coal |
| PKP Cargo | 121 706 | purchase of transport services |
| Tauron | 57 094 | purchase and sale of energy |
| KGHM Polska Miedź | 12 502 | purchase of raw materials |
| PSE | 40 715 | purchase of transmission of energy |
| LOTOS | 22 988 | purchase of advisory services and purchase of raw materials |
| PKO BP | 111 688 | repayment of principal and interest |
| PZU Życie | 89 331 | repayment of principal and interest |
| PZU | 28 256 | insurance |
| 2 946 050 |
