ANNUAL REPORT 2011 - DONG Energy

notes
38 Related party transactions
Related parties
Related parties that have control over the Group comprise the
Danish State, represented by the Danish Ministry of Finance,
which owns 76% of the parent company.
Other related parties are the Group’s Board of Directors,
Executive Board, senior executives and close members of
their families. Related parties also comprise companies that
are controlled or jointly controlled by the persons referred to
above.
Related parties also include the Group’s jointly controlled entities,
i.e. companies that are jointly controlled by DONG Energy
and other venturers, and associates in which DONG Energy
has signifi cant infl uence. Reference is made to note 42 in the
complete annual report for an overview of the Group’s jointly
controlled entities and associates.
Related party transactions
Remuneration to the Board of Directors, the Executive Boards
and other senior executives is disclosed in note 6.
The Group had the following transactions with jointly controlled
entitles and associates during the fi nancial year:
Jointly controlled entities Associates
DKK million 2011 2010 2011 2010
Dividends received 178 39 51 59
Capital transactions, net 625 643 - -
Trade receivables 2,179 81 5 1
Trade payables (55) (40) (435) (126)
Purchase of property, plant and
equipment (1,792) - - -
Interest, net - - 64 32
Receivables 870 271 557 544
Payables - (271) (10) (43)
There were no other transactions with related parties during the
year under review.
126 122 COnsOliDatED finanCial statEmEnts – DONG ENERGY ANNUAL GROUP ANNUAL REPORT REPORT 2011
2011
Transactions with related parties are made on arm’s length
terms.