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2011
5.29 Related parties transactions
The Company is jointly controlled by the Greek State and Hochtief Airport Group.
The Company has a related party relationship with its primary shareholders, by rendering or receiving services for the
operation of the airport. More specifically, the Company provides either aeronautical or non aeronautical services to
public sector controlled entities and receiving public or private services i.e. fire protection, medical, cleaning services etc.
The above services are based on corresponding market’s terms and conditions and analysed as follows:
a) Sales of services and rental fees 2011 2010
Sales of services and rental fees 358,125 542,057
12,993,714 16,355,667
Hochtief Group
Greek State 13,351,839 16,897,724
Total 2011 2010
b) Purchases of services 5,597,913 5,720,743
Purchases of services 3,271,708 3,387,180
Greek State
Hochtief Group 8,869,621 9,107,923
Total
c) Year end balances arising from sales/purchases of services and rental fees
Year end balances arising from 2011 2010
sales/purchases of services and rental fees
22,942,087
Trade and other receivables: 7,256,056 36,273
30,845
Greek State 433,059
Hochtief Group 23,411,419
Trade and other payables:
Payables to Hochtief Group 457,860
Total 7,744,761
d) Key management compensation
Key management includes personnel authorised by the Board of Directors for planning, directing and controlling the
activities of the Company. Compensation paid or payable to key management for employee services rendered is shown
below:
Analysis of BoD and key management 2011 2010
compensation
Board of directors’ fees 419,456 460,472
Short-term employment benefits of key management 1,641,462 2,467,469
Total BoD and key management compensation 2,060,918 2,927,941
5.30 Events after the balance sheet date
Other than current negotiations for the extension of the concession, as disclosed in Note 1, no significant events have
been incurred after the balance sheet, until the approval of the Financial Statements by the Board of Directors.
Financial Statements as at 31 December 2011 (Amounts in Euros unless otherwise stated) Page 48 of 50
5.29 Related parties transactions
The Company is jointly controlled by the Greek State and Hochtief Airport Group.
The Company has a related party relationship with its primary shareholders, by rendering or receiving services for the
operation of the airport. More specifically, the Company provides either aeronautical or non aeronautical services to
public sector controlled entities and receiving public or private services i.e. fire protection, medical, cleaning services etc.
The above services are based on corresponding market’s terms and conditions and analysed as follows:
a) Sales of services and rental fees 2011 2010
Sales of services and rental fees 358,125 542,057
12,993,714 16,355,667
Hochtief Group
Greek State 13,351,839 16,897,724
Total 2011 2010
b) Purchases of services 5,597,913 5,720,743
Purchases of services 3,271,708 3,387,180
Greek State
Hochtief Group 8,869,621 9,107,923
Total
c) Year end balances arising from sales/purchases of services and rental fees
Year end balances arising from 2011 2010
sales/purchases of services and rental fees
22,942,087
Trade and other receivables: 7,256,056 36,273
30,845
Greek State 433,059
Hochtief Group 23,411,419
Trade and other payables:
Payables to Hochtief Group 457,860
Total 7,744,761
d) Key management compensation
Key management includes personnel authorised by the Board of Directors for planning, directing and controlling the
activities of the Company. Compensation paid or payable to key management for employee services rendered is shown
below:
Analysis of BoD and key management 2011 2010
compensation
Board of directors’ fees 419,456 460,472
Short-term employment benefits of key management 1,641,462 2,467,469
Total BoD and key management compensation 2,060,918 2,927,941
5.30 Events after the balance sheet date
Other than current negotiations for the extension of the concession, as disclosed in Note 1, no significant events have
been incurred after the balance sheet, until the approval of the Financial Statements by the Board of Directors.
Financial Statements as at 31 December 2011 (Amounts in Euros unless otherwise stated) Page 48 of 50
