Gschäftsbericht 2018

124 | Galenica financial statements 2018 Finance Notes to the consolidated financial statements of the Galenica Group Employee share plan Employees of Galenica are entitled to buy a fixed number of shares of Galenica Ltd. at a preferential price. All employees who, at the time of the purchase offer, are not under notice and have an employment contract of unlimited duration are entitled to acquire shares. The purchase price for the shares is calculated at the time of the purchase offer based on the average price for the previous month less a 30% discount. The price discount is borne by the employer. The shares may not be traded for the first three years for tax reasons. In the reporting period, employees purchased 63,311 shares of Galenica Ltd. (previous year: 58,088 shares) at a price of CHF 38.25 (previous year: CHF 31.40). This includes a discount of CHF 16.39 (previous year: CHF 13.45) per share. Share-based payment expense in thousand CHF 2018 2017 Remuneration for members of the Board of Directors 1,415 1,116 Share plan for members of senior management 2,132 1,876 Long-term incentive plan (LTI) 1,048 934 Employee share plan 1,037 781 Total 5,632 4,707 28. Related party transactions Related parties include all companies of the Galenica Group as well as associates, joint ventures, pension funds, members of the Board of Directors and members of the Corporate Executive Committee. Related party transactions As at the reporting date, trade receivables and loans from associates and joint ventures amounted to CHF 8.4 million (pre- vious year: CHF 12.3 million). The trade receivables and loans primarily relate to Coop Vitality. The trade payables to asso- ciates and joint ventures amounted to CHF 3.2 million (previous year: CHF 6.1 million) and the financial liabilities to pension funds amounted to CHF 22.8 million (previous year: CHF 18.6 million). The transactions with associates and joint ventures shown in the table below largely concern transactions with Coop Vitality. in thousand CHF Associates and joint ventures 2018 Other related parties Associates and joint ventures 2017 Other related parties Sale of goods 1) 131,372 5,293 116,057 5,464 Income from services 1) 6,551 — 4,142 10 Other income 1) 40 — 47 683 Purchase of goods 780 2 908 12,381 Other operating costs 1) — 46 5 3,196 Financial income 152 — 141 — Financial expenses 10 — 1 349 1) Restatement of 2017 figures upon adoption of IFRS 15 (refer to page 90) Remuneration of the Board of Directors and the Corporate Executive Committee in thousand CHF 2018 2017 Remuneration 2,839 2,479 Social security costs and pension expenses 719 634 Share-based payments 2,166 1,890 Total 5,724 5,003