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:
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.