Econocom - 2019 Universal registration document

06 consolidated financial statements

notes to the consolidated financial statements

BREAKDOWN OF TRANSFERS 21.3.3. FOR THE ژ YEAR Refinancing is part of the operating sales cycle and its seasonal nature is thus linked to that of its business and not to the presentation of the statement of financial position.

A significant part of this business takes place in December, which is traditionally an important month for companies where ICT investments and digital investments more generally are concerned.

Related-party information 22. This note presents material transactions between the Group and its related parties. Management compensation 22.1.

The Group’s key management personnel are the Chairman, the Vice-Chairman, the Managing directors and the members of the Executive Committee.

on the Compensation Committee. The Board has given its Chairman a mandate to determine the compensation of the other senior managers of the Group upon the recommendations of the Compensation the recommendation of

The

conditions

related

to

the

compensation of the Chairman, the Vice-Chairman and the Managing directors are determined by the Board of Directors

Committee.

2019

2018

in € ڳ millions

ژ (4.8)

(4.6)

Short-term benefits (including payroll costs)

ژ - ژ -

- -

Retirement benefits and other post-employment benefits

Other long-term benefits

ژ (2.2) ژ (0.2)

(0.2)

Termination benefits

(1.1)

Share-based payments

ژ -

.

Attendance fees (1)

Total (5.9) The table only shows compensation paid to key management personnel and excludes attendance fees paid to (1) non-executive Directors. ژ (7.2)

The table above shows the amounts expensed for the members of the Executive Committee and the Managing directors. This table does not show fees billed to Econocom Group entities by management, which are disclosed in note ژ 22.2 below.

The compensation policy for Directors and members of the Executive Committee is set out in further detail in the Board of Directors' Management Report in section ژ 5.7.1.

250

2019 annual report