Nabaltec_E_GB2016

OTHER DISCLOSURES 103 In the future, the Group will endeavor to steadily optimize its financial management, together with continuously monitoring and managing its equity ratio. The object of this financial management is to improve the solvency of Nabaltec AG relative to its business partners and optimize capital costs. Nabaltec AG is not subject to any capital adequacy requirements in accordance with its Articles of Association. For covenants arising from loan contracts, reference is made to Section 6.10, “Current and non-current accounts payable.” TRANSACTIONS WITH RELATED PARTIES 7.4 Persons and companies are considered to be related parties in terms of IAS 24, “Related party disclosures,” if one of the parties has the ability, directly or indirectly, to control or exercise a significant influence over the other party, or if one of the parties is engaged in joint manage- ment of the company. The following persons and companies have been identified as related parties: ■ ■ ■ members of the Management Board (see Section 7.8, “Corporate officers”) and their family members; members of the Supervisory Board (see Section 7.8, “Corporate officers”) and their family members; companies which are directly or indirectly controlled by members of the Management Board or Supervisory Board. The members of the Management Board received short-term remuneration in the amount of EUR 1,568 thousand in Financial Year 2016 (year before: EUR 1,547 thousand). An additional EUR 8 thousand was transferred to provisions for service anniversaries (year before: EUR 2 thousand). In addition, a total of EUR 416 thousand was spent on post-employment benefits (year before: EUR 379 thousand). The members of the Supervisory Board received a total of EUR 49 thousand in remuneration in Financial Year 2016 (year before: EUR 49 thousand). The following accounts receivable and payable existed on 31 December 2016 and 2015 vis-a-vis related parties: in TEUR 12/31/2016 12/31/2015 12/31/2016 12/31/2015 Accounts receivables Accounts payables Companies controlled by Supervisory Board members Companies controlled by Management Board members 0 12 0 18 0 0 0 0 Allowances for doubtful accounts with related parties were performed on 31 December 2016 in the amount of EUR 8 thousand (year before: EUR 8 thousand). S T N E M E T A T S L A I C N A N I F D E T A D I L O S N O C Annual Report 2016 | Nabaltec AG ||||

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