Disclosures concerning relationships to related parties

In accordance with IAS 24, related parties are regarded as all individual persons and entities that can be influenced by, or that can themselves influence, the Company.

The employees’ representatives on the Supervisory Board received compensation for their employment at Aurubis AG at a level that is normal for the market.

In the Aurubis Group, various group companies purchase different types of services from and provide different types of services to related companies as part of their normal business activities. Such delivery and service relationships are conducted using market prices. In the case of services, these are charged on the basis of existing contracts.

The following amounts related to a joint venture accounted for using the equity method:

9/30/2016

T 113
         
in € thousand Income Expenses Receivables Liabilities
 
Schwermetall Halbzeugwerk GmbH & Co. KG 48,667 26,228 3,526 834

9/30/2015

T 114
         
in € thousand Income Expenses Receivables Liabilities
         
Schwermetall Halbzeugwerk GmbH & Co. KG 79,654 30,957 3,762 1,132

The following amounts relate to non-consolidated related companies:

9/30/2016

T 115
         
in € thousand Income Expenses Receivables Liabilities
         
Joint ventures 49 6.824 48 0
Subsidiaries 4,296 1,564 2,587 1,233

9/30/2015

T 116
 
in € thousand Income Expenses Receivables Liabilities
         
Joint ventures 6 152,977 0 3,240
Subsidiaries 3,333 1,667 1,986 1,195

With the exception of Salzgitter AG, no individual shareholders of Aurubis AG exercise a significant influence on the Aurubis Group.

Salzgitter Group companies accounted for € 1,998 thousand in expenses (previous year: € 3,959 thousand) during the fiscal year. At the balance sheet date, there were related liabilities of € 116 thousand (previous year: € 243 thousand).

At the balance sheet date, no letters of comfort (previous year: € 6,000 thousand) had been issued to related parties. The letter of comfort that was in place as at the prior-year balance sheet date to secure bank liabilities of C.M.R. International N.V., Antwerp, a joint venture that is not included in the scope of the consolidation, was revoked.