Page 60 - Kitron Annual Report 2011

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Notes to the financial statements Kitron ASA
60
Kitron annual report 2011
(Amounts in NOK 1000)
2011
2010
Sales revenues
From subsidiaries (1)
61 847
45 751
Purchase of goods and services
From subsidiaries (1)
15 230
3 620
Remuneration of senior executives
Pay and other short-term benefits (2)
8 569
9 893
Financial income
Interest income from subsidiaries (1)
2 418
3 510
Dividend and group contribution from subsidiaries
32 080
25 170
Total
34 498
28 680
Balance items at 31 December resulting from transactions with related parties
Receivables and loans
Subsidiaries (1)
141 111
93 279
Total
141 111
37 776
Payables
Subsidiaries (1)
2 741
4 637
Senior executives (3)
226
300
Total
2 967
4 937
(1)Revenues form subsidiaries consist primarily of group contributions. Purchase and sales of goods and serv-
ices from subsidiaries consist primarily of services from corporate personnel employed in subsidiaries Inter-
est income from subsidiaries consist of interest on long-term loans
(2)Senior executives comprise member of corporate management team emplyed in Kitron ASA. See table in
note 13 for a more extensive description of remuneration of senior executives.
(3)The amount at 31 December comprises accrued bonuses to corporate management team.
No loans/security have been provided for the chief executive, the chair or other related parties. No single loan/
security totals more than five per cent of the company’s equity.
Note 7 Related parties