Group notes

Note 31 Related parties

Related-party transactions

Related parties are defined as the subsidiaries in the Epiroc Group and companies over which related physical persons have a controlling or significant influence. The Company’s largest shareholder, Investor AB, controls approximately 23% of the voting rights in Epiroc AB. Related parties also include transactions with associated companies. Related persons include Board members, senior executives and close family members of the above.

No Board member, senior officer or shareholder has:

(i) been a party to a transaction with the Company on unusual terms or of an unusual nature, or

(ii) that is of importance, or has been of importance, for operations as a whole in the present or immediately preceding fiscal year, or in any previous fiscal year, and in any way may be considered outstanding or incomplete.

Information about participation in Group companies can be found in note A19. The Group has transactions with related parties reported in note 4 where intercompany revenues account for a minor part of total revenues as presented in the note. The parent company’s revenue of 175 (194) mainly entails allocation of centrally incurred administration costs. Information about remunerations and other benefits to key management personnel can be found in note 5 and in the Corporate governance report. All intra-group transactions take place on general and commercial terms and at market price.

Transactions with associated companies

The Group sold various products and purchased goods through certain associated companies on terms generally similar to those prevailing with unrelated parties.

 The following table summarizes the Group’s related-party transactions with its associates.