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DES - Online Annual Report 2008

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Related parties in accordance with IAS 24

Deutsche EuroShop AG’s subsidiaries as well as the members of its Executive Board and the Supervisory Board are regarded as related parties in accordance with IAS 24. In the ordinary course of business, the Company maintained relationships involving the provision of goods and services with this group of persons and companies; the relevant terms and conditions fulfil the criteria for arm’s length transactions.

Income of €5,731 thousand (previous year: €4,807 thousand) was generated in the financial year from the Douglas Group under existing rental contracts.

Fees for service contracts amounting to €31,984 thousand (previous year: €24,548 thousand) were paid to the ECE Group. €19,594 thousand (previous year: €3,552 thousand) of this amount related to properties under construction and €12,390 thousand (previous year: €20,996 thousand) to operational properties. This was partially offset by income from rental contracts with the ECE Group in the amount of €3,815 thousand (previous year: €3,246 thousand).

Hamburg, 7 April 2009

Deutsche EuroShop AG
The Executive Board

Claus-Mathias Böge (Handwriting)   Olaf G. Borkers (Handwriting)
Claus-Mathias Böge   Olaf G. Borkers

 

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