38. Related party transactions

38.1. Information on material transactions concluded by the companies or subsidiaries with related parties on other than market terms

In 2014 and in 2013 there were no material related party transactions in the Group concluded on other than market terms.

38.2. Transactions with members of the Management Board, Supervisory Board of the Parent Company, their spouses, siblings, ascendants, descendants and their other relatives

In 2014 and in 2013 the Group companies did not grant to managing and supervising persons and their relatives any advances, borrowings, loans, guarantees and commitments, or concluded other agreements obliging to render services to the Parent Company and its related parties.

As at 31 December 2014 and as at 31 December 2013 there were no loans granted by the Group companies to neither the managing and supervising persons nor their relatives.

In 2014 and in 2013 there were no material transactions with members of the Management Board and the Supervisory Board of the Parent Company, or their spouses, siblings, ascendants, descendants or other relatives.

38.3. Transactions with related parties concluded by the key management personel of the Parent Company and the ORLEN Group companies

As at 31 December 2014 and as at 31 December 2013, the key management personnel of the Parent Company and the Group companies did not present in the submitted statements any balances regarding receivables or liabilities with related parties. Sale and purchase transactions are not presented due to no significant impact on consolidated financial statements.

38.4. ORLEN Group companies’ transactions and balances of settlements with related parties

               Sales            Purchases
 20142013
(restated data)
20142013
(restated data)
Jointly-controlled entities 3 295 3 443 (507) (419)
joint ventures 2 927 3 088 (30) (31)
joint operations 368 355 (477) (388)
Associates 60 66 (47) (49)
3 355 3 509 (554) (468)

 Trade and other receivables

Trade and other liabilities
 31/12/1431/12/13
(restated data)
31/12/1431/12/13
(restated data)
Jointly- controlled entities 620 653 225 233
joint ventures 575 590 4 4
joint operations 45 63 221 229
Associates 17 19 9 11
  637 672 234 244

 

The above transactions with related parties include mainly sale and purchase of petrochemicals and refinery products and sale and purchase of repair, transportation and other services. Related party sale and purchase transactions were concluded on market terms.

Guarantees and sureties granted in the Group on behalf of related parties as at 31 December 2014 and as at 31 December 2013 amounted to PLN 6,667 million and PLN 2,403 million, respectively. They are mainly related to secure of ORLEN Capital future liabilities due to eurobonds issuance and timely payment of liabilities by related parties.