Vilmorin & Cie - Annual report 2017-2018

Financial INFORMATION 5 ANNUAL REPORT Vilmorin & Cie 204 2017-2018 Note 32: Transactions between related parties 1- Associated companies These are companies in which Vilmorin & Cie exerts significant influence and which are consolidated using the equity method. Transactions with associated companies are carried out on the basis of a market price. The debts and receivables with regard to companies consolidated using the equity method are not significant. The main figures for companies consolidated using the equity method are provided in Note 18. 2- Related parties with a significant influence on Vilmorin & Cie Vilmorin & Cie is held by its majority shareholder Groupe Limagrain. The economic relationships developed with the companies in this Group are summarized in the table below: 2.1 - Receivables and debts on June 30, 2018 In millions of euros Assets Liabilities Operating debts and receivables 1.7 35.0 Financial debts and receivables - - Total 1.7 35.0 2.2 - Charges and income for fiscal year 2017-2018 In millions of euros Charges Income Purchases and sales of goods -69.9 4.5 Corporate allocations -9.2 6.2 Other operating charges and income -24.5 3.1 Financial charges and income -0.2 - Total -103.8 13.8 3- Remuneration of the Executive Committee In millions of euros 06.30.18 06.30.17 Global amount of remunerations and benefits paid to the Executive Committee: > Short-term benefits 1.5 1.7 > Benefits paid out after employment - - > Other long-term benefits - - > Severance pay 0.8 1.2 > Payment through shares - - > Directors’ fees paid to the Executive Committee - - The Executive Committee comprised five members during fiscal year 2017-2018, as opposed to six in 2016-2017. On average, the contractual benefits due when the mandate of a member of the Executive Committee is terminated correspond to two years of total remuneration. Benefits paid out after employment in favor of members of the Executive Committee The total amount of benefits funded for severance pay for the Executive Committee stood at 0.8 million euros on June 30, 2018, including employer’s welfare contributions. This commitment is assessed by actuaries in order to determine the amount for provisions for severance pay. Provisions for the severance pay of the Executive Committee is included in the provision for severance pay set out in Note 24. 5.1. Consolidated Financial Statements