Business transactions in the form of deliveries and services are carried out with non-consolidated subsidiaries, joint ventures and associated Group companies within the scope of operational activities. These business transactions are carried out exclusively based on normal market terms.
With two exceptions, there were no changes in transactions with associated companies and persons as set forth in the last , which significantly affected the Company’s financial position or its net operating profit during the first six months of the current business year.
As part of the first type of factoring agreement (see in the Consolidated Financial Statements for the business year 2017/18), receivables are sold to core shareholders at arm’s length as of the current business year. As of September 30, 2018, these receivables were recognized at a total of EUR 125.5 million.
The first-time full consolidation of a subsidiary that had not been consolidated to date results in a decrease in both the revenue and the receivables to be disclosed in connection with related parties (effect on the values shown in the business year 2017/18: Revenue EUR –181.1 million, trade receivables EUR –25.2 million).