Thousand euros
31/12/2013
Expenses and Income
Major
Shareholders
Directors and Senior
Management
Group Persons,
Companies or Entities
Total
Expenses:
Financial expenses
13,839
-
-
13,839
Management or cooperation agreements
-
-
-
-
R&D transfers and licence agreements
-
-
-
-
Rents
9,366
-
-
9,366
Reception of services
-
-
-
-
Purchase of goods (finished or in-progress)
-
-
-
-
Write downs for bad debts and doubtful accounts
-
-
-
-
Losses due to retirement or disposal of assets
-
-
-
-
Other expenses
1,238
-
-
1,238
24,443
-
-
24,443
Income:
Financial income
-
31
-
31
Management or cooperation agreements
5,337
-
-
5,337
R&D transfers and licence agreements
-
-
-
-
Dividends received
-
-
-
-
Rents
-
-
-
-
Rendering of services
-
-
(1,536)
(1,536)
Sale of goods (finished or in-progress)
-
-
-
-
Gains on retirement or disposal of assets
-
-
-
-
Other income
-
-
-
-
5,337
31
(1,536)
3,832
Financial expenses accrued from financing agreements with credit institutions that are major shareholders of the Parent Company amounted to €13,839 thousand in
2013 (
€13,566 thousand in 2012).
The Group maintains several operating lease agreements with Pontegadea Inversiones, S.L. totalling €9,366 thousand in 2013 (€10,341 thousand in 2012).
Furthermore, until 8November 2013, theGroupmaintained a swap arrangement withBankia (previouslyCajaMadrid) to hedge against any possible financing liabilities
arising from the 2007-2013 share-based remuneration scheme. On said date the Group settled the contract in the amount of EUR 30,601 thousand (Note 19). The
financial expenses linked to this agreement as at 31 December 2013 totalled €1,238 thousand (€1,548 thousand at 31 of December of 2012).
The heading “Management or cooperation agreements” includes the amounts that have accrued in the form of management fees payable to the NH Hoteles Group
during the period of 2013 by virtue of the hotel management agreement signed with Grupo Inversor Hesperia, S.A.
Remuneration of payment awarded in 1998 to a number of the Group’s directors to purchase shares in the Parent Company is included in the financial income heading.
This financing, which was converted into a loan in 2001, matured on 30 April 2013 and was settled in line with the contractual provisions. These loans gave rise to €31
thousand in interest during this financial year.
Commissions invoiced on the sale of apartments and premises to Residencial Marlin, S.L. are entered under “Provision of services”.
REPORT ONTHE CONSOLIDATED FINANCIAL STATEMENTS
104
