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 2019 the collective ownership connected to the Paulsson families amounted to a total of 25.7 percent of the capital and 57.7 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 2019 2018
Koncernen, Mkr 2019 2018
Transactions with joint arrangements Transaktioner med samarbetsarrangemang
Sales to joint arrangements 1) Försäljning till samarbetsarrangemang 1) 1,566 1,631
Purchases from joint arrangements Inköp från samarbetsarrangemang 13 116
Interest revenue from joint arrangements Ränteintäkter från samarbetsarrangemang 48 47
Receivables from joint arrangements Fordran på samarbetsarrangemang 1,375 2,022
Liabilities to joint arrangements Skuld till samarbetsarrangemang 2 44
Dividends from joint arrangements Utdelning från samarbetsarrangemang 48 94
Capital contributions to joint arrangements Kapitaltillskott till samarbetsarrangemang 567 81
Guarantee liabilities for the benefit of joint arrangements Borgensförbindelser till förmån för samarbetsarrangemang 2,914 2,722
Transactions with Skistar Transaktioner med Skistar
Sales to Skistar Försäljning till Skistar 232 57
Purchases from Skistar Inköp från Skistar 2 2
Transactions with Ekhaga Utveckling AB/Kranpunkten Transaktioner med Ekhaga Utveckling AB/Kranpunkten
Sales to Ekhaga Utveckling AB/Kranpunkten Försäljning till Ekhaga Utveckling AB/Kranpunkten 51 47
Purchases from Ekhaga Utveckling AB/Kranpunken Inköp från Ekhaga Utveckling AB/Kranpunkten 73 67
Receivables from Ekhaga Utveckling AB/Kranpunkten Fordran på Ekhaga Utveckling AB/Kranpunkten 5 8
Liabilities to Ekhaga Utveckling AB/Kranpunkten Skuld till Ekhaga Utvecking AB/Kranpunkten 10 15
Dividends to Ekhaga Utveckling AB/Kranpunkten Utdelning till Ekhaga Utveckling AB/Kranpunkten 259 245
Transactions with AB Axel Granlund/Volito Transaktioner med AB Axel Granlund/Volito
Sales to AB Axel Granlund/Volito Försäljning till AB Axel Granlund/Volito 8 23
Receivables from AB Axel Granlund/Volito Fordran på AB Axel Granlund/Volito – 2
Dividends to AB Axel Granlund/Volito Utdelning till AB Axel Granlund/Volito 82 78
1) In 2018 the property Ångkraftverket 2 in Västerås, containing a hotel and Kokpunkten Actionbad was divested for a value of around SEK 800 million. The transaction was net recognized in the income statement and had no effect on operating profit. 

Summary of transactions with related parties

Parent company, MSEK 2019 2018
Moderbolaget, Mkr 2019 2018
Transactions with subsidiaries Transaktioner med dotterföretag
Sales to subsidiaries Försäljning till dotterföretag 338 286
Purchases from subsidiaries Inköp från dotterföretag 79 72
Interest costs to subsidiaries Räntekostnader till dotterföretag 69 92
Receivables from subsidiaries Fordran på dotterföretag 2,479 2,736
Liabilities to subsidiaries Skuld till dotterföretag 3,195 3,943
Capital contributions to subsidiaries Kapitaltillskott till dotterföretag 98 51
Transactions with AB Axel Granlund/Volito Transaktioner med AB Axel Granlund/Volito
Dividends to AB Axel Granlund/Volito Utdelning till AB Axel Granlund/Volito 82 78
Transactions with Ekhaga Utveckling AB/Kranpunkten Transaktioner med Ekhaga Utveckling AB/Kranpunkten
Dividends to Ekhaga Utveckling AB/Kranpunkten Utdelning till Ekhaga Utveckling AB/Kranpunkten
 259 245

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.