48. Related Party Disclosures

IAS 24 defines related parties as companies and individuals which directly or indirectly control or exert significant influence over the Group or over which the Group has control, joint control or significant influence.

The shareholder HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH, Hamburg (HGV) and its shareholder, the Free and Hanseatic City of Hamburg (FHH), companies over which the shareholder or the Free and Hanseatic City of Hamburg has control or significant influence, the members of HHLA’s Executive and Supervisory Boards, and the subsidiaries, associates and joint ventures in the Group are therefore defined as related parties. HGV is the final parent company of HHLA which publishes Consolidated Financial Statements. HHLA is the parent company of the Group.

Transactions with not Fully Consolidated Related Parties

 

 

Income

 

Expenses

 

Receivables

 

Liabilities

in € thousand

 

2017

 

2016

 

2017

 

2016

 

31.12.2017

 

31.12.2016

 

31.12.2017

 

31.12.2016

Companies with control over the Group

 

219

 

166

 

1,215

 

1,302

 

75,262

 

74,793

 

0

 

0

Non-consolidated subsidiaries

 

2

 

2

 

469

 

319

 

1

 

9

 

405

 

504

Joint ventures

 

18,587

 

17,835

 

14,517

 

14,202

 

6,135

 

6,753

 

2,517

 

4,170

Associated companies

 

925

 

978

 

0

 

0

 

75

 

0

 

77

 

77

Other transactions with related parties

 

6,723

 

23,214

 

36,812

 

39,512

 

54

 

181

 

110,529

 

110,503

 

 

26,456

 

42,195

 

53,013

 

55,335

 

81,527

 

81,736

 

113,528

 

115,254

The receivables from companies with a controlling interest relate to receivables from cash clearing with HGV totalling € 74,000 thousand (previous year: € 74,000 thousand). HHLA’s receivables accrued interest at a rate of 0.00 % p.a. (previous year: between 0.00 and 0.10 % p.a.) in the reporting period. The interest rates for HHLA’s liabilities were 0.10 % p.a. (previous year: 0.10 to 0.20 % p.a.).

The transactions with joint ventures pertain to transactions with companies accounted for using the equity method. These mainly relate to HHLA Frucht and Kombi-Transeuropa.

In the previous year, other transactions with related parties include income from the termination of the Übersee-Zentrum lease.

Expenses reported as other transactions with related parties mostly include rent for land and quay walls in the Port of Hamburg and the Speicherstadt historical warehouse district.

Obligations from finance leases amounting to € 105,914 thousand (previous year: € 106,304 thousand) for the lease of four mega-ship berths from HPA are included in other transactions with related parties.

Furthermore, HGV and the Free and Hanseatic City of Hamburg as parties related to HHLA have provided comfort letters and guarantees to lender banks for loans granted to companies in the Group. The nominal amount of the associated liabilities from bank loans is € 123,000 thousand (previous year: € 153,000 thousand), of which approximately € 72,831 thousand plus interest was still outstanding on the balance sheet date (previous year: € 82,874 thousand).

With effect from 18 October 2007, a partial loss compensation agreement was concluded between HHLA and HGV. HGV hereby undertakes to assume each annual deficit posted by the HHLA Real Estate subgroup as per commercial law during the term of the agreement. This applies insofar as the deficit is not compensated for by transferring amounts from retained earnings, other revenue reserves or the capital reserve which were carried forward as profit or transferred to these reserves during the term of the contract in accordance with Section 272 (2) (4) of the German Commercial Code (HGB).

Expenses and income from related parties are on standard market terms. The amounts outstanding at the year-end are not secured and – with the exception of overnight funds in clearing and the loan liability to HGV in the previous year – do not attract interest.

No loans or comparable benefits were granted to the members of the Executive and Supervisory Boards in the reporting year or in the previous year.

List of HHLA’s Shareholdings by Business Sector as of 31 December 2017

Name and headquarters of the company

 

Share of capital held

 

Equity

 

Result for the financial year

 

 

directly

 

indirectly

 

 

 

 

 

 

 

 

in %

 

in %

 

in € thousand

 

Year

 

in € thousand

1

Controlled companies.

2

Profit and loss transfer agreements were held in these companies in 2017.

3a

The non-disclosure option provided for in Section 264 (3) of the German Commercial Code (HGB) was used for these companies.

3b

The non-disclosure option and the option of non-inclusion in the Management Report provided for in Section 264 (3) of the German Commercial Code (HGB) were used for these companies.

3c

The non-disclosure option and the option of non-inclusion in the Management Report and the Notes provided for in Section 264 (3) of the German Commercial Code (HGB) were used for these companies.

3d

The non-disclosure option provided for in Section 264b of the German Commercial Code (HGB) was used for these companies.

4

Companies recognised using the equity method.

5

Due to the minor importance of these companies, they are not recognised using the equity method in the Consolidated Financial Statements or as non-consolidated companies, but rather as equity investments.

6

Annual Financial Statements as at 30 June 2017

Port Logistics Subgroup

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Container Segment

 

 

 

 

 

 

 

 

 

 

HHLA Container Terminal Burchardkai GmbH, Hamburg1, 2, 3b

 

100.0

 

 

 

76,961

 

2017

 

0

Service Center Burchardkai GmbH, Hamburg1, 2, 3c

 

 

 

100.0

 

26

 

2017

 

0

HCCR Hamburger Container- und Chassis-Reparatur-Gesellschaft mbH, Hamburg1, 2, 3b

 

100.0

 

 

 

1,942

 

2017

 

0

HHLA Container Terminal Tollerort GmbH, Hamburg1, 2, 3b

 

100.0

 

 

 

34,741

 

2017

 

0

HHLA Rosshafen Terminal GmbH, Hamburg1

 

 

 

100.0

 

21,718

 

2017

 

2,225

HHLA Container Terminal Altenwerder GmbH, Hamburg1, 2, 3b

 

74.9

 

 

 

80,433

 

2017

 

0

SCA Service Center Altenwerder GmbH, Hamburg1, 2, 3c

 

 

 

74.9

 

601

 

2017

 

0

HVCC Hamburg Vessel Coordination Center GmbH, Hamburg4

 

66,0

 

 

 

100

 

2017

 

0

Kombi-Transeuropa Terminal Hamburg GmbH, Hamburg4

 

 

 

37.5

 

137

 

2017

 

27

CuxPort GmbH, Cuxhaven4

 

25.1

 

 

 

12,909

 

2017

 

2,044

Cuxcargo Hafenbetrieb GmbH & Co. KG, Cuxhaven5

 

50.0

 

 

 

31

 

2017

 

5

Cuxcargo Hafenbetrieb Verwaltungs-GmbH, Cuxhaven5

 

50.0

 

 

 

15

 

2017

 

0

DHU Gesellschaft Datenverarbeitung Hamburger Umschlagsbetriebe mbH, Hamburg4

 

40.4

 

 

 

1,533

 

2017

 

860

HHLA International GmbH, Hamburg1, 2, 3b

 

100.0

 

 

 

369

 

2017

 

0

SC Container Terminal Odessa, Odessa/Ukraine (formerly: SC HPC UKRAINA, Odessa/Ukraine)1

 

 

 

100.0

 

34,113

 

2017

 

14,975

 

 

 

 

 

 

 

 

 

 

 

Intermodal Segment

 

 

 

 

 

 

 

 

 

 

CTD Container-Transport-Dienst GmbH, Hamburg1, 2, 3c

 

100.0

 

 

 

1,256

 

2017

 

0

POLZUG Intermodal GmbH, Hamburg1, 2, 3b

 

100.0

 

 

 

7,990

 

2017

 

0

POLZUG Intermodal Polska sp. z o.o., Warsaw/Poland1

 

 

 

100.0

 

1,221

 

2017

 

- 1,650

HHLA Terminals Polska Sp. z o.o., Warsaw/Poland1, 5

 

 

 

100.0

 

- 10

 

2017

 

- 5

POLZUG INTERMODAL LLC, Poti/Georgia1

 

 

 

75.0

 

1,473

 

2017

 

445

METRANS a.s., Prague/Czech Republic1

 

90.0

 

 

 

238,807

 

2017

 

44,612

JPFE-07 INVESTMENTS s.r.o., Ostrava/Czech Republic1, 5

 

 

 

90.0

 

897

 

2017

 

93

METRANS Adria D.O.O., Koper/Slovenia1

 

 

 

90.0

 

1,375

 

2017

 

266

METRANS (Danubia) a.s., Dunajská Streda/Slovakia1

 

 

 

90.0

 

80,068

 

2017

 

11,958

METRANS (Danubia) Kft., Győr/Hungary1

 

 

 

90.0

 

1,160

 

2017

 

247

METRANS Danubia Krems GmbH, Krems an der Donau/Austria1

 

 

 

90.0

 

341

 

2017

 

99

METRANS D.O.O., Rijeka/Croatia1, 5

 

 

 

90.0

 

4

 

2017

 

4

METRANS DYKO Rail Repair Shop s.r.o., Prague/Czech Republic1

 

 

 

90.0

 

5,149

 

2017

 

708

METRANS İSTANBUL STI, Istanbul/Turkey1

 

 

 

90.0

 

26

 

2017

 

- 98

METRANS Konténer Kft., Budapest/Hungary1

 

 

 

90.0

 

8,161

 

2017

 

- 860

METRANS Rail s.r.o., Prague/Czech Republic1

 

 

 

90.0

 

3,674

 

2017

 

3,111

METRANS Rail (Deutschland) GmbH, Leipzig1

 

 

 

90.0

 

7,126

 

2017

 

2,566

TIP Žilina, s.r.o., Dunajská Streda/Slovakia1, 5

 

 

 

90.0

 

5

 

2017

 

0

Univer Trans Kft., Budapest/Hungary1

 

 

 

90.0

 

1,047

 

2017

 

296

METRANS Railprofi Austria GmbH, Krems an der Donau/Austria1

 

 

 

72.0

 

1,057

 

2017

 

987

IPN Inland Port Network Verwaltungsgesellschaft mbH, Hamburg5

 

50.0

 

 

 

37

 

2017

 

2

IPN Inland Port Network GmbH & Co. KG, Hamburg5

 

50.0

 

 

 

68

 

2017

 

- 3

 

 

 

 

 

 

 

 

 

 

 

Logistics Segment

 

 

 

 

 

 

 

 

 

 

HPC Hamburg Port Consulting GmbH, Hamburg1, 2, 3a

 

100.0

 

 

 

1,023

 

2017

 

0

UNIKAI Lagerei- und Speditionsgesellschaft mbH, Hamburg1

 

51.0

 

 

 

7,788

 

2017

 

1,453

ARS-UNIKAI GmbH, Hamburg4

 

 

 

25.5

 

64

 

2017

 

14

HHLA Frucht- und Kühl-Zentrum GmbH, Hamburg4

 

51.0

 

 

 

19,891

 

2017

 

1,378

Ulrich Stein Gesellschaft mit beschränkter Haftung, Hamburg4

 

51.0

 

 

 

809

 

2017

 

206

Hansaport Hafenbetriebsgesellschaft mit beschränkter Haftung, Hamburg3b, 4

 

49.0

 

 

 

n/a

 

2017

 

n/a

HCC Hanseatic Cruise Centers GmbH i.L., Hamburg1, 6

 

51.0

 

 

 

701

 

2017

 

-75

 

 

 

 

 

 

 

 

 

 

 

Holding/Other

 

 

 

 

 

 

 

 

 

 

GHL Zweite Gesellschaft für Hafen- und Lagereiimmobilien-Verwaltung mbH, Hamburg1, 2, 3c

 

100.0

 

 

 

3,609

 

2017

 

0

HHLA-Personal-Service GmbH, Hamburg1, 2, 3b

 

100.0

 

 

 

45

 

2017

 

0

 

 

 

 

 

 

 

 

 

 

 

Real Estate Subgroup

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Segment

 

 

 

 

 

 

 

 

 

 

Fischmarkt Hamburg-Altona Gesellschaft mit beschränkter Haftung, Hamburg1, 2, 3a

 

100.0

 

 

 

4,518

 

2017

 

0

HHLA Immobilien Speicherstadt GmbH, Hamburg1, 5

 

100.0

 

 

 

79

 

2017

 

8

HHLA 1. Speicherstadt Immobilien GmbH & Co. KG, Hamburg1, 3d

 

100.0

 

 

 

14,305

 

2017

 

1,339

HHLA 2. Speicherstadt Immobilien GmbH & Co. KG, Hamburg1, 3d

 

100.0

 

 

 

69,185

 

2017

 

8,268

Remuneration for Key Management Personnel

IAS 24 requires the remuneration of key management personnel to be disclosed. This relates to the active Executive Board and the Supervisory Board. Apart from the details provided below, there were no notifiable transactions with related parties or their close relatives in the 2017 financial year.

For further details of the remuneration paid to individual Executive and Supervisory Board members, please see the remuneration report, which forms part of the Combined Management Report.

Remuneration for Active Members of the Executive and Supervisory Boards

Remuneration for Active Members of the Executive and Supervisory Boards

 

 

Executive Board

 

Supervisory Board

in € thousand

 

2017

 

2016

 

2017

 

2016

Short-term remuneration

 

2,936

 

3,143

 

304

 

327

of which is non-perfomance-related

 

1,556

 

1,619

 

 

of which is perfomance-related

 

1,380

 

1,524

 

 

Benefits due after termination of the contract

 

851

 

1,181

 

 

 

 

3,787

 

4,325

 

304

 

327

The performance-related portion of the Executive Board’s remuneration had not been paid as of the balance sheet date.

In the 2017 financial year, the short-term benefits payable to the Supervisory Board totalled € 304 thousand (previous year: € 327 thousand). Basic salaries accounted for € 206 thousand (previous year: € 199 thousand) of this, remuneration for committee work made up € 58 thousand (previous year: € 78 thousand) and € 40 thousand (previous year: € 50 thousand) consisted of meeting fees.

The past service cost resulting from pension provisions for active members of the Executive Board is reported as post-employment benefits. As of the reporting date, the associated obligation stood at € 7,505 thousand (previous year: € 20,117 thousand).

The Executive Board members’ individual pension entitlements as per HGB are as follows:

Individual Pension Claims of Members of the Management Board in Accordance with German Commercial Code (HGB)

in € thousand

 

2017

 

2016

Angela Titzrath

 

235

 

33

Heinz Brandt

 

1,749

 

1,484

Dr. Roland Lappin

 

2,749

 

2,449

Klaus-Dieter Peters

 

0

 

4,758

Dr. Stefan Behn

 

0

 

4,133

 

 

4,733

 

12,857

Former Members of the Executive Board

Benefits totalling € 932 thousand (previous year: € 692 thousand) were paid to former members of the Executive Board and their surviving dependants. The defined benefit obligation for current pensions calculated in accordance with International Financial Reporting Standards amounts to € 24,242 thousand (previous year: € 12,386 thousand).