32. Related parties

Transactions with related parties are conducted on an arm’s-length basis.

All issued shares are held by the State of the Netherlands. One significant transaction with an enterprise that has a relationship with the State (DUO, the Dutch Education Executive Agency) is the remuneration received for student railcards (€468 million in 2017, €466 million in 2016).

Furthermore, the Group received a sum of €27 million in grants from the State in 2017 through various schemes (2016: €30 million). Of these grants, €27 million (€29 million in 2016) was recognised as ‘other revenue’ and €0 (€1 million in 2016) was deducted from the related costs.

The following transactions took place with ProRail BV, an enterprise with links to the State:

  • The payment of the access charges for the rail infrastructure in the Netherlands. This is explained note 31.

  • For the financing of commercial facilities at stations in New Key Projects (Nieuwe Sleutel Projecten), the Group has undertaken to pay €1 million to ProRail BV as at 31 December 2017 (€8 million as at 31 December 2016). In 2017, €5 million was paid to ProRail BV (2016: €10 million).

The transactions with the Executive Board and the Supervisory Board members are explained in note 2.

There were no significant transactions in 2017 or 2016 with joint ventures and other participating interests.

The Group has a 5.8% participating interest in EUROFIMA AG. EUROFIMA is a European company that was set up for financing railway rolling stock. It is headquartered in Basel, Switzerland. The following transactions and balance-sheet positions apply for this party.

(in millions of euros)

2017

2016

Interest expenses

-

-

   

(in millions of euros)

December 31, 2017

December 31, 2016

Private loans

30

59

Group companies

The main companies included in the consolidated financial statements are:

 

Percentage intrest

Statutory Seat

 

2017

2016

 

Operating companies

   

NS Reizigers BV*

100.0

100.0

Utrecht

Abellio Transport Holding BV

100.0

100.0

Utrecht

NedTrain BV*

100.0

100.0

Utrecht

NS Financial Services (Holdings) Ltd

100.0

100.0

Dublin

NS Stations BV*

100.0

100.0

Utrecht

NS Vastgoed BV*

100.0

100.0

Utrecht

NS Insurance NV

100.0

100.0

Utrecht

NS Opleidingen BV*

100.0

100.0

Utrecht

NS Lease BV*

100.0

100.0

Utrecht

    

Subsidiaries of operating companies

   

Thalys Nederland NV*

100.0

100.0

Utrecht

NS Internationaal BV*

100.0

100.0

Utrecht

NedTrain Ematech BV

100.0

100.0

Utrecht

NS Stations Retailbedrijf BV*

100.0

100.0

Utrecht

NS Fiets BV

100.0

100.0

Utrecht

NS OV-Fiets BV

100.0

100.0

Utrecht

Qbuzz BV

-

100.0

Amersfoort

Stationsfoodstore BV*

100.0

100.0

Utrecht

NS Poort Ontwikkeling BV

100.0

100.0

Utrecht

NS Financial Services Company

100.0

100.0

Dublin

DISA Assets Ltd

100.0

100.0

Dublin

Abellio Nederland BV

100.0

100.0

Utrecht

Abellio Transport Group Ltd

100.0

100.0

Glasgow

Abellio Transport Holdings Ltd

100.0

100.0

London

Abellio Greater Anglia Ltd

100.0

100.0

London

Abellio East Anglia Ltd

60.0

100.0

London

Abellio West Midlands Ltd

70.1

-

Birmingham

Abellio Rail Baden-Württemberg GmbH

100.0

100.0

Stuttgart

Abellio Rail Mitteldeutschland GmbH

100.0

100.0

Halle

Abellio Rail NRW GmbH

100.0

100.0

Essen

Abellio GmbH

100.0

100.0

Essen

Abellio ScotRail Ltd

100.0

100.0

Glasgow

Abellio West London Ltd

100.0

100.0

London

Abellio London Ltd

100.0

100.0

London

WestfalenBahn GmbH

100.0

25.0

Bielefeld

  • * Pursuant to the provisions of Section 403, Book 2 of the Dutch Civil Code, NS Groep NV has assumed liability in respect of the debts arising from legal acts.
 

Percentage intrest

Statutory Seat

 

2017

2016

 

Joint ventures

   

Stationslocaties OG CV

55.8

55.8

Utrecht

Basisfonds Stationslocaties CV

50.9

50.9

Utrecht

Merseyrail Services Holding Company Ltd

50.0

50.0

Hampshire

Northern Rail Holdings Ltd

50.0

50.0

Hampshire

    

Joint operations

   

Stationsdrogisterijen CV

50.0

50.0

Zaandam

    

Other interests

   

Eurofima AG

5.8

5.8

Basel

Pursuant to Sections 379 and 414, Book 2 of the Dutch Civil Code, a complete list of the Group's subsidiaries, associates and joint ventures has been filed with the office of the Trade Register in Utrecht.