Financial Report
The following transactions have been entered into with related parties:
|
2023 kEUR |
Income from related parties |
Purchases from related parties |
Amounts due from related parties |
Amounts due to related parties |
|
|
|
|
|
|
|
Draupnir Holding B.V. |
– |
– |
– |
– |
|
Thalamus AB |
– |
-167 |
– |
-197 |
|
Ferring Group |
34,900 |
-93 |
1,279 |
-56 |
|
Monedula AB |
8 |
-1,270 |
– |
-11,120 |
|
Amzell B.V. |
21 |
– |
– |
– |
|
Amring Pharmaceuticals Inc |
3 |
– |
– |
– |
|
SVAR Life Science AB |
104 |
– |
14 |
– |
|
Nordic Pharma Ltd. |
– |
-6 |
– |
– |
|
Limhamn Kajan 37 AB |
– |
-41 |
– |
-182 |
In addition to the information shown in the table above, PolyPeptide Group AG secured a short-term credit facility from its main shareholder, Draupnir Holding B.V., during 2023. As a result, interest expenses at the amount of kEUR 1,224 have been incurred during the year. As at 31 December 2023, an amount of kEUR 40,000 was drawn from the credit facility and is accordingly recognized in the consolidated statement of financial position as a current liability (see Note 19).
|
2022 kEUR |
Income from related parties |
Purchases from related parties |
Amounts due from related parties |
Amounts due to related parties |
|
|
|
|
|
|
|
Draupnir Holding B.V. 1 |
– |
– |
– |
– |
|
Thalamus AB |
– |
-167 |
– |
-304 |
|
Ferring Group |
41,300 |
-38 |
5,918 |
-4 |
|
Monedula AB |
191 |
-1,556 |
– |
-10,506 |
|
Amzell B.V. |
172 |
– |
– |
– |
|
Amring Pharmaceuticals Inc |
– |
– |
– |
– |
|
SVAR Life Science AB |
166 |
– |
– |
– |
|
Nordic Pharma Ltd. |
– |
-7 |
– |
– |
1 A cash distribution of CHF 0.3 per entitled share was approved by the Annual General Meeting in April 2022. This resulted in a cash distribution of kEUR 5,363 to Draupnir Holding B.V. in May 2022.
All disclosed related parties are either related through the Esperante Investments S.à r.l. ownership structure or through managerial control. Esperante Investments S.à r.l. is a higher parent company of the majority shareholder Draupnir Holding B.V.
Purchases from and amounts due to Thalamus AB relate to rental of premises.
Income from the Ferring Group and amounts due from the Ferring Group relate to sale of goods.
Purchases from Monedula AB relate to the lease of premises. Income and amounts due from Monedula relate to property management fees and recharged improvements to the premises. Amounts due to Monedula AB relate to the financial liability recognized for the lease of premises as disclosed in Note 18.
Income from and amounts due from Amzell B.V. relate to sale of goods.
Income from SVAR Life Science AB relates to sale of goods.
Purchases from and amounts due to Limhamn Kajan 37 AB relate to rental of premises.
During 2023, no provisions for doubtful debt and no write-offs on receivables from related parties were recognized (2022: nil). No guarantees were given or received in 2023 for any outstanding related party balances (2022: nil).
Compensation of key management personnel of the Group:
|
kEUR |
2023 |
2022 |
|
|
|
|
|
Salaries and short-term benefits |
4,341 |
3,112 |
|
Post-employment benefits |
313 |
292 |
|
Share-based payment expense |
842 |
1,155 |
|
Total transactions with key management |
5,497 |
4,559 |
Reference is made to Note 4 for further details on the share-based payment expense.
Key management personnel are considered all members of the Executive Committee and the Board of Directors.