Page 99 - KELAG Annual Report 2017

The members of the Board of Directors and Supervisory Board of KELAG are related parties, as are
their immediate family members.

The following table provides an overview of the effect of material business transactions with
associates accounted for using the equity method on the KELAG Group’s income statement and
statement of financial position:

INCOME STATEMENT
Revenue 5.4 5.0
Other income 1.1 0.1
Other expenses -5.3 -0.3
STATEMENT OF FINANCIAL POSITION
Receivables 1.2 0.8
Liabilities 0.1 2.4

The transactions with associates mainly relate to energy purchase and supply transactions.

KELAG acquired (proportional) electricity purchase rights by paying construction cost subsidies
for power plants on the Danube and Drau rivers and for the Malta and Reißeck power plant groups.
Under these electricity supply agreements, KELAG is entitled to obtain a portion of the electricity
produced by these power plants in return for the reimbursement of certain accounting expenses
(not including amortisation, depreciation and impairment or interest).

Revenue from electricity trading activities with shareholders and their affiliates amounted to
EUR 22.7m (prior year: EUR 11.1m). Services in connection with electricity trading activities,
purchase rights and grid costs of EUR 86.5m (prior year: EUR 65.9m) were purchased from the
shareholders and their affiliates.

Furthermore, KEH was charged EUR 14.5m in the financial year 2017 (prior year: 16.4m) in
expenses from the tax allocation.

All transactions were entered into at arm’s length conditions. The business relationships do not
differ from the trade relationships with entities that are not related to the KELAG Group.