36.Related Party Disclosures

Related parties include OÖ Landesholding GmbH as majority shareholder as well as its subsidiaries, the Province of Upper Austria as sole investor of OÖ Landesholding GmbH, the joint ventures, the associated companies as well as members of the Management Board and of the Supervisory Board of Energie AG Oberösterreich and their close relations.

State of Upper Austria

The State of Upper Austria is the sole investor of OÖ Landesholding GmbH. OÖ Landesholding GmbH is the majority shareholder of Energie AG Oberösterreich.

OÖ Landesholding GmbH

Energie AG Oberösterreich and selected Group companies are members of the OÖ Landesholding GmbH tax group. The provisions of the OÖ Landesholding GmbH tax group contract apply in the relationship of Energie AG Oberösterreich with the tax group parent, whereas Energie AG Oberösterreich calculates its taxable income taking into account the taxable income of its subordinate Group companies. In the case of positive tax income, any positive tax allocations are offset. Negative tax results are carried forward. The tax allocations amount to EUR 27,615.7 thousand (previous year: EUR 32,104.5 thousand).

Associated Companies

Salzburg AG für Energie, Verkehr und Telekommunikation

Gas and electricity deliveries at standard market terms take place between the Group and Salzburg AG. The sales revenues amount to EUR 4,888.6 thousand (previous year: EUR 4,028.1 thousand), while expenses are EUR 442.4 thousand (previous year: EUR 913.4 thousand).

Wels Strom GmbH

In addition to grid services, heat and electricity deliveries at standard market terms took place between the Group and Wels Strom GmbH. The sales revenues amount to EUR 9,250.3 thousand (previous year: EUR 4,244.2 thousand), while expenses are EUR 302.3 thousand (previous year: EUR 279.6 thousand).

Joint Ventures

ENAMO GmbH

ENAMO GmbH was established between Energie AG Oberösterreich and LINZ AG für Energie, Telekommunikation, Verkehr und Kommunale Dienste (LINZ AG) as a joint venture for electricity sales.

A business share of 35% is held by LINZ STROM GmbH für Energieerzeugung, -verteilung und Telekommunikation, a subsidiary of LINZ AG. There is an obligation to proportionally assume negative results. Deliveries of electricity and other services take place at standard market terms between the Group and ENAMO GmbH, which is consolidated at equity. The sales revenues amount to EUR 102,978.9 thousand (previous year: EUR 107,618.2 thousand), while services in the amount of EUR 6,146.9 thousand (previous year: EUR 8,194.3 thousand) were procured. Furthermore, electricity and other services are delivered between the Group and ENAMO Ökostrom GmbH, a 100% subsidiary of ENAMO GmbH. The sales revenues amount to EUR 13,175.4 thousand (previous year: EUR 14,322.6 thousand), while services in the amount of EUR 1,790.1 thousand (previous year: EUR 2,342.6 thousand) were procured.

Energie AG Oberösterreich Vertrieb GmbH & Co KG

Energie AG Oberösterreich is the sole limited partner of Energie AG Oberösterreich Vertrieb GmbH & Co KG. ENAMO GmbH is the general partner without an equity interest. Deliveries of electricity and other services take place at standard market terms between the Group and the company. The sales revenues amount to EUR 126,208.6 thousand (previous year: EUR 136,116.5 thousand), while services in the amount of EUR 4,705.9 thousand (previous year: EUR 3,693.4 thousand) were procured. There is also a cash-pooling agreement between the Group and Energie AG Oberösterreich Vertrieb GmbH & Co KG resulting in liabilities in the amount of EUR 89,433.6 thousand (previous year: EUR 85,605.5 thousand). Furthermore, there are contingent liabilities in the amount of EUR 2,170.7 thousand (previous year: EUR 1,871.7 thousand).

Members of the Management in Key Positions

Members of the management in key positions include the members of the Management Board and the Supervisory Board of Energie AG Oberösterreich, and the Management Board and the Supervisory Board of OÖ Landesholding GmbH. Please refer to Item 10 with regard to the remuneration of the members of the Management Board and the Supervisory Board of Energie AG Oberösterreich. Additional disclosable transactions included revenues of EUR 8.5 thousand (previous year: EUR 6.8 thousand) and benefits in the amount of EUR 11.0 thousand (previous year: EUR 15.8 thousand). This item also includes receivables in the amount of EUR 0.3 thousand (previous year: EUR 0.0 thousand).

Other Disclosures

Shareholder agreements exist between Energie AG Oberösterreich and the non-controlling investors, with the exception of employees. This affects the Energie AG Oberösterreich Group in particular concerning dividend arrangements, rights to appoint members of the Supervisory Board, and special minority rights.

Other transactions with non-consolidated companies are not recognised due to their subordinate importance.