Page 180 - KELAG Annual Report 2019
P. 180

Dividends are allocated to the cash flow from operating activities. Dividends and interest paid are
                                      recognised in the cash flow from financing activities. Interest received is reported in the cash flow
                                      from investing activities.

                                      There were no events after the end of the reporting period on 31 December 2019 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
                                      those entities that have a significant influence on KELAG and KEH – and their affiliates. Due to its
                                      position as a majority shareholder, KEH is a related party, as are its owners (the state of Carinthia,
                                      innogy  International  Participations  N.V.,  RWE  AG)  as  well  as  all  the  entities  it  controls,  has  a
                                      significant influence on and jointly controls. innogy International Participations N.V. also qualifies
                                      as a related party on account of its direct shareholding in KELAG. The entities controlled and
                                      jointly controlled by innogy International Participations N.V. are also related parties, as are the
                                      entities the state of Carinthia has a significant influence on, jointly controls and controls. Because
                                      of its direct shareholding in KELAG, VERBUND AG and all the entities it controls and jointly controls
                                      are  related  parties  (collectively  referred  to  as  “VERBUND”).  Consequently,  entities  under  the
                                      control and joint 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.
   175   176   177   178   179   180   181   182   183   184   185