Note 40 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 a member of the board in Ekhaga Utveckling AB. At the end of 2018 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 Skistar from December 2017.
Ekhaga Utveckling AB/Kranpunkten
Ekhaga Utveckling is subject to considerable influence by Mats and Fredrik Paulsson with families, children and companies through their ownership of the company. In June 2018 Kranpunkten was sold to Ekhaga Utveckling AB and is thereby included in Ekhaga’s group structure. Fredrik Paulsson is CEO of Ekhaga Utveckling and Kranpunkten.
AB Axel Granlund/Volito
Karl-Axel Granlund is a member of the Board 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 19 and 20.
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 41.
Summary of transactions with related parties
Group, MSEK | 2018 | 2017 | |
Koncernen, Mkr | 2018 | 2017 | |
Transactions with joint arrangements | Transaktioner med samarbetsarrangemang | ||
Sales to joint arrangements 1) | Försäljning till samarbetsarrangemang 1) | 1,631 | 1,462 |
Purchases from joint arrangements | Inköp från samarbetsarrangemang | 116 | 201 |
Interest revenue from joint arrangements | Ränteintäkter från samarbetsarrangemang | 47 | 53 |
Interest costs to joint arrangements | Räntekostnader till samarbetsarrangemang | 0 | 2 |
Receivables from joint arrangements | Fordran på samarbetsarrangemang | 2,022 | 1,749 |
Liabilities to joint arrangements | Skuld till samarbetsarrangemang | 44 | 50 |
Dividends from joint arrangements | Utdelning från samarbetsarrangemang | 94 | 82 |
Capital contributions to joint arrangements | Kapitaltillskott till samarbetsarrangemang | 81 | 40 |
Guarantee liabilities for the benefit of joint arrangements | Borgensförbindelser till förmån för samarbetsarrangemang | 2,722 | 2,718 |
Transactions with Skistar | Transaktioner med Skistar | ||
Sales to Skistar | Försäljning till Skistar | 57 | 1 |
Purchases from Skistar | Inköp från Skistar | 2 | 1 |
Transactions with Ekhaga Utveckling AB/Kranpunkten 2) | Transaktioner med Ekhaga Utveckling AB/Kranpunkten 2) | ||
Sales to Ekhaga Utveckling AB/Kranpunkten | Försäljning till Ekhaga Utveckling AB/Kranpunkten | 47 | 36 |
Purchases from Ekhaga Utveckling AB/Kranpunken | Inköp från Ekhaga Utveckling AB/Kranpunkten | 67 | 52 |
Receivables from Ekhaga Utveckling AB/Kranpunkten | Fordran på Ekhaga Utveckling AB/Kranpunkten | 8 | 7 |
Liabilities to Ekhaga Utveckling AB/Kranpunkten | Skuld till Ekhaga Utvecking AB/Kranpunkten | 15 | 10 |
Dividends to Ekhaga Utveckling AB/Kranpunkten | Utdelning till Ekhaga Utveckling AB/Kranpunkten | 245 | – |
Transactions with AB Axel Granlund/Volito | Transaktioner med AB Axel Granlund/Volito | ||
Sales to AB Axel Granlund/Volito | Försäljning till AB Axel Granlund/Volito | 23 | 12 |
Purchases from AB Axel Granlund/Volito | Inköp från AB Axel Granlund/Volito | 0 | 0 |
Receivables from AB Axel Granlund/Volito | Fordran på AB Axel Granlund/Volito | 2 | 11 |
Dividends to AB Axel Granlund/Volito | Utdelning till AB Axel Granlund/Volito | 72 | 60 |
2) Kranpunkten has been a related party to Peab for many years. As of 2018 Kranpunkten is part of Ekhaga Utveckling AB.
Summary of transactions with related parties
Parent company, MSEK | 2018 | 2017 | |
Moderbolaget, Mkr | 2018 | 2017 | |
Transactions with subsidiaries | Transaktioner med dotterföretag | ||
Sales to subsidiaries | Försäljning till dotterföretag | 286 | 253 |
Purchases from subsidiaries | Inköp från dotterföretag | 72 | 71 |
Interest costs to subsidiaries | Räntekostnader till dotterföretag | 92 | 130 |
Receivables from subsidiaries | Fordran på dotterföretag | 2,736 | 3,472 |
Liabilities to subsidiaries | Skuld till dotterföretag | 3,943 | 6,673 |
Capital contributions to subsidiaries | Kapitaltillskott till dotterföretag | 51 | 311 |
Transactions with AB Axel Granlund/Volito | Transaktioner med AB Axel Granlund/Volito | ||
Dividends to AB Axel Granlund/Volito | Utdelning till AB Axel Granlund/Volito | 72 | 60 |
Transactions with Ekhaga Utveckling AB/Kranpunkten 1) | Transaktioner med Ekhaga Utveckling AB/Kranpunkten 1) | ||
Dividends to Ekhaga Utveckling AB/Kranpunkten | Utdelning till Ekhaga Utveckling AB/Kranpunkten | 245 | – |
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 10.
Transaction terms
Transactions with related parties were on market terms.