Page 104 - Annual Report KELAG Group 2018
P. 104

Dividends and interest received are allocated to the cash flow from operating activities. Dividends
           and interest paid are recognised in the cash flow from financing activities. Any lease payments
           from finance leasing contracts in the KELAG Group are immaterial.

           There were no events after the end of the reporting period on 31 December 2018 that would have
           led to a different presentation of the financial position, financial performance and cash flows.

           Related parties of the KELAG Group include all non-consolidated affiliates or associates and the
           controlling companies and their affiliates. Due to its position as majority shareholder, KEH is a
           related party, as are its owners (the state of Carinthia and innogy International Participations N.V.).
           The  latter  also  qualifies  as  a  related  party  on  account  of  its  direct  shareholding  in  KELAG.
           Companies that are controlled by the state of Carinthia and innogy SE are also related parties.
           Because of its direct shareholding in KELAG, VERBUND AG and all the entities and persons it
           controls  or  has  a  significant  influence  on  are  related  parties  (collectively  referred  to  as
           “VERBUND”).  Consequently,  entities  under  the  control  of  the  Republic  of  Austria,  as  majority
           shareholder in the VERBUND, are also related parties. These include in particular Österreichische
           Bundesbahnen  (ÖBB),  Autobahnen-  und  Schnellstraßen-Finanzierungs-Aktiengesellschaft
           (ASFINAG), Bundesbeschaffungs GmbH (BBG), Energie-Control Austria für die Regulierung der
           Elektrizitäts- und Erdgaswirtschaft (E-Control) and Österreichische Post AG. The Group makes use
           of the simplification provision in accordance with IAS 24.25; further notes are not disclosed since
           the business transactions are immaterial.

           The parent company that prepares the consolidated financial statements for the largest group of
           companies is KEH with registered offices in Klagenfurt am Wörthersee. The consolidated financial
           statements are published in the commercial register of Klagenfurt regional court.

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