In financial year 2021/22 METRO maintained the following business relations to related companies:
€ million |
2020/21 |
2021/22 |
|---|---|---|
Services provided |
116 |
91 |
Associates |
104 |
86 |
Joint ventures |
11 |
2 |
Miscellaneous related parties |
1 |
4 |
Services received |
81 |
88 |
Associates |
72 |
80 |
Joint ventures |
6 |
5 |
Miscellaneous related parties |
3 |
4 |
Receivables from services provided as of 30/9 |
21 |
3 |
Associates |
19 |
3 |
Joint ventures |
2 |
0 |
Miscellaneous related parties |
0 |
0 |
Liabilities from services received as of 30/9 |
2 |
0 |
Associates |
0 |
0 |
Joint ventures |
2 |
0 |
Miscellaneous related parties |
0 |
0 |
Dividends received |
16 |
14 |
Transactions with associates and other related parties
In financial year 2021/22, METRO companies provided services to companies belonging to the group of associates and related parties in the amount of €91 million (2020/21: €116 million).
The provided services mainly result from the business relations with METRO GROUP Commerce (Shanghai) Co., Ltd. (formerly METRO China) based on a service level agreement and the granting of brand licences.
In connection with the prepaid brand use, contractual liabilities amounting to €35 million on 30 September 2022 were deferred at METRO (2020/21: €94 million).
The services totalling €88 million (2020/21: €81 million) which METRO companies received in financial year 2021/22 from associates and other related parties mainly consisted of real estate leases in the amount of €67 million (2020/21: €64 million), (thereof €65 million from associates; 2020/21: €61 million), as well as €12 million (2020/21: €13 million) from services received (thereof €7 million from associates; 2020/21: €7 million and €5 million from joint ventures; 2020/21: €6 million) and €8 million from other services from associates (2020/21: €4 million).
During financial year 2021/22, METRO received dividends from related parties amounting to €14 million (2020/21: €16 million), thereof from associates €13 million (2020/21: €15 million).
- Further disclosures about dividends from related parties are provided in no. 23 – financial assets and investments accounted for using the equity method.
The balance sheet reports lease liabilities of €418 million (2020/21: €428 million) and corresponding rights of use of €363 million (2020/21: €379 million) from rental agreements with associates. It mainly concerned OPCI FWP France and OPCI FWS France.
Business relations with related parties are based on contractual agreements providing for arm’s length prices. As in financial year 2020/21, there were no business relations with related natural persons and companies of management in key positions in financial year 2021/22.
Related persons (remuneration 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 €10.1 million (2020/21: €9.6 million) for short-term benefits and €4.7 million (2020/21: €0.6 million) for post-employment benefits. The expenses for existing remuneration programmes with long-term incentive effect in financial year 2021/22 that were calculated in accordance with IFRS 2 amounted to €0.5 million (2020/21: €4.2 million).
The short-term remuneration for the members of the Supervisory Board of METRO AG amounted to €2.3 million (2020/21: €2.3 million).
The total remuneration for members of the Management Board in key positions in financial year 2021/22 amounted to €17.6 million (2020/21: €16.7 million).
- For more information about the basic principles of the remuneration system, see the remuneration report; for the Management Board and Supervisory Board remuneration amounts, see no. 52 – corporate body remuneration.