Note 17 Related parties

< Back
A B C D E F G H I J K L
Note 17 Related parties                      
                       
Amounts in NOK 1000                      
2015 Operating income Operating expenses Financial income Financial expenses Current receivables, group companies Non-current receivables, group companies Current receivables Current liabilities to group companies      
                       
Grieg Seafood Rogaland AS 12 183   4 646   85 673   1 894 -19 501      
Grieg Seafood Finnmark AS 15 384 782 3 008   54 475   2 681 -601      
Grieg Seafood Canada AS 14     -10 -915            
Grieg Seafood BC Ltd 8 143   18 237   264 562 186 032          
Grieg Seafood UK 9 328   29 932   534 021 348 109          
Erfjord Stamfisk AS 1 987     -519 -34 471     -3 332      
Ocean Quality AS 3 439             -3 077      
Ocean Quality UK 805           50        
Ocean Quality NA 1 068           201        
Balances tax/VAT as at 31.12.2015 (joint reg.)           157 118   0      
Total related parties – group companies 52 351 782 55 823 -529 903 345 691 259 4 827 -26 511     ikke hvis linjene – bare total sum
                       
Grieg Gaarden KS   1 995           -1      
Grieg Group Resources AS   3 378           -491      
Grieg Holdings AS                      
Total related parties – shareholders 0 5 373 0 0 0 0 0 -492      
                       
Total 52 351 6 155 55 823 -529 903 345 691 259 4 827 -27 003      
                       
2014 Operating income Operating expenses Financial income Financial expenses Current receivables, group companies Non-current receivables, group companies Current receivables Current liabilities to group companies      
                       
Grieg Seafood Rogaland AS 11 074   5 435   173 468   843        
Grieg Seafood Finnmark AS 12 127 1 626 8 339   28 550   1 042        
Grieg Seafood Canada AS 23   30   -872            
Grieg Seafood BC Ltd 5 690   10 684   258 714 186 032 2 -2 686      
Grieg Seafood UK 6 889   26 616   474 000 348 109 4        
Erfjord Stamfisk AS 1 731     311     10 43 132      
Unrealised gains – non-current loans           102 985          
Total related parties – group companies 37 534 1 626 51 104 311 933 860 637 126 1 901 40 446      
                       
Ocean Quality AS (joint venture) 3 099           146        
Total related parties – joint venture 3 099 0 0 0 0 0 146 0      
                       
Grieg Gaarden KS   1 957                  
Grieg Group Resources AS   2 603         297 -195      
Grieg Holdings AS                      
Total related parties – shareholders 0 4 560 0 0 0 0 297 -195      
                       
Total 40 633 6 186 51 104 311 933 860 637 126 2 344 40 251      
                       
The company purchases services from companies controlled by Grieg Seafood ASA´s majority shareholder, Grieg Holdings AS. These services include:
– Services related to ICT and other functions such as book-keeping, canteen, reception etc., provided by Grieg Group Resources AS on an arm’s length basis.
– Grieg Seafood ASA rents its offices from Grieg Gaarden KS, based on an arm’s length.
– The parent company provides a range of services to the subsidiaries. The services include administrative services and services related to the parent provision of non-current loans and short-term credit facilities to the subsidiaries. The interest is on an arm´s length basis.
– As from 2015, Ocean Quality AS is classified as a subsidiary to Grieg Seafood ASA. Grieg Seafood ASA enters into hedging contracts on behalf of Grieg Seafood Rogaland AS and Grieg Seafood Finnmark AS. The arrangement is intended to reduce these companies´ exposure to salmon prices. The agreements with the subsidiaries are priced on the basis of a "back to back" arrangement.
     
     
     
     
     
     
                       
                       

This entry was posted in GSF parent ENG and tagged . Bookmark the permalink.