Chapters
Annual Report 2019

33. Related Parties

33.1 Transactions and positions with Related Parties

During 2019 GrandVision acquired goods from Safilo (a group company of HAL Holding N.V.) for an amount of €55,215 (2018: €52,371).

Other positions with Related Parties are as follows:

in thousands of EUR

Notes

2019

2018

Other receivables:

Safilo

4,165

1,595

Other HAL subsidiaries

-

115

16

4,165

1,710

Trade and other payables:

Safilo

7,097

6,436

HAL Investments B.V.

1,886

1,886

Other HAL subsidiaries

259

204

29

9,242

8,526

33.2 Loans to/ from Related Parties

The Group had loans granted to senior managers of the Group and its subsidiaries as part of various share-based payment plans. These loans were fully repaid in 2019. Interest income of €25 was accrued in 2019 (2018: €61).

No advance payments, guarantees or other loans have been provided to key management.

The Group has received loans from non-controlling interests holders of €3,830 (2018: €3,356), with interest rates ranging between 3.00% and 10.2%.

33.3 Remuneration

Management Board

Key management includes the Management Board, which consists of the CEO (S. Borchert) and CFO (W. Eelman).

The remuneration for (former) key management:

in thousands of EUR

2019

2018

Salary and other short-term benefits

1,470

1,611

Post-employment benefits

70

169

Short-term variable remuneration

788

486

Share-based payments

201

7

Other short-term benefits

551

1,500

Termination benefits

-

244

3,081

4,017

Share-based payment plan benefits represent the amounts recognized in the consolidated Income Statement. For the movements in the share-based payment plan please refer to note 26.

Supervisory Board Remuneration

The total remuneration paid or payable to the Supervisory Board amounted to €346 (2018: €355), which comprises short-term benefits. No loans, advance payments or guarantees have been provided to the Supervisory Board.