Note 41 Related parties

The Group is subject to considerable influence by Mats Paulsson, Fredrik Paulsson and Anita Paulsson together with families, children and companies. As part of the generation shift, in the spring of 2017 the Paulsson families merged the majority of their indirect holdings into a holding company, Ekhaga Utveckling AB, which is controlled by Mats Paulsson’s son Fredrik Paulsson. Ekhaga Utveckling AB has 48.2 percent of the votes. Peab’s Chairman of the Board, Göran Grosskopf, is also chairman in Ekhaga Utveckling AB. At the end of 2017 the collective ownership connected to the Paulsson families amounted to a total of 25.5 percent of the capital and 57.6 percent of the votes.

Skistar

The Skistar Group is subject to considerable influence by Mats Paulsson with families, children and companies through their ownership of the company. Fredrik Paulsson is a member of the Board of Directors of Skistar from December 2017.

Kranpunkten

Kranpunkten is subject to considerable influence by Fredrik Paulsson with families, children and companies through their ownership of the company. Fredrik Paulsson is also CEO of Kranpunkten.

AB Axel Granlund/Volito

Karl-Axel Granlund is a member of the Board of Directors of Peab and together with his family, children and companies has had decisive influence in AB Axel Granlund/Volito until June 2017. After a generation shift in AB Axel Granlund the shareholding majority was transferred to his three sons. Karl-Axel Granlund continues to be Chairman of Volito AB which is part of the AB Axel Granlund group.

Joint arrangements

In addition to the related parties presented above the Group has a related party relation with its joint arrangements, see note 18 and 19.

Subsidiaries

In addition to the related parties relations given above for the Group, the parent company has a related party relation with its subsidiaries, see note 42.

Summary of transactions with related parties

Group, MSEK 2017 2016
Transactions with joint arrangements
Sales to joint arrangements 1,462  1,081
Purchases from joint arrangements 201  118
Interest income from joint arrangements 53  86
Interest costs to joint arrangements 2  12
Receivables from joint arrangements 1,749  1,986
Liabilities to joint arrangements 50  53
Dividends from joint arrangements 82  180
Capital contributions to joint arrangements 40 19
Guarantee liabilities for the benefit of joint arrangements 2,718  2,267
Transactions with Skistar
Sales to Skistar 1  7
Purchases from Skistar 1  1
Transactions with Kranpunkten
Sales to Kranpunkten 36  36
Purchases from Kranpunken 52  48
Receivables from Kranpunkten 7  7
Liabilities to Kranpunkten 10  6
Transactions with AB Axel Granlund/Volito
Sales to AB Axel Granlund/Volito 12  28
Sales of 50 percent of the shares in Peab FU Linné AB 1) 389
Purchases from AB Axel Granlund/Volito 0  1
Receivables from AB Axel Granlund/Volito 11  8
Dividends to AB Axel Granlund/Volito 60  50

1)  The AGM 10 maj 2016 approved the Board’s proposal to sell 50 percent of the shares in Peab’s wholly owned subsidiary Peab FU Linné to Volito Fastigheter.

Summary of transactions with related parties

Parent company, MSEK 2017 2016
Transactions with subsidiaries
Sales to subsidiaries 253  241
Purchases from subsidiaries 71  48
Interest costs to subsidiaries 130 142
Receivables from subsidiaries 3,472  2,444
Liabilities to subsidiaries 6,673  7,339
Capital contributions to subsidiaries 311 35
Transactions with AB Axel Granlund/Volito
Dividends to AB Axel Granlund/Volito 60  50

Executive management

For information on salaries and other remuneration to the Board of Directors, the CEO and senior officers along with information on costs relating to pensions and similar benefits and agreements on retirement remuneration, see note 9.

Transaction terms

Transactions with related parties took place on market terms.