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Consolidated Financial Statements
101
Notes
The target payout ratio to shareholders currently amounts to approximately 30% of the net profit for the year in the form of a share capital reduction and repayment or dividend. The target ratio and the form of the payout recommended by the Board is reviewed on an annual basis and is subject to the decision of the Annual General Meeting of Shareholders. The Group’s subsidiaries have complied with local statutory capital requirements as appropriate. 30. Related parties In accordance with Art. 20 of the six Swiss Exchange regulations, Barry Callebaut ag discloses the following shareholders holding a participation of more than 3% of the issued share capital of the Company:
as of August 31, Jacobs Holding AG, Zurich, Switzerland Renata Jacobs Nicolas and Philippe Jacobs1 Nathalie Jacobs
1 Form a group of shareholders according to six Swiss Exchange regulations as published in the Swiss Official Gazette of Commerce of February 4, 2008
2008 50.50% 8.43% 6.14% 3.07%
2007 50.50% 8.43% N/A N/A
Significant transactions and balances between the Group and related parties are as follows:
in thousands of CHF Sales to related parties Jacquot SA1 DKSH Group2 Pastelería Totel, S.L. Purchases from related parties African Organic Produce AG Operating expenses charged by related parties Jacobs Holding AG Adecco Group Pastelería Totel, S.L. Biolands International Ltd. Other Accounts receivable related parties Jacquot SA1 Pastelería Totel, S.L. DKSH Group2 Accounts payable related parties Jacobs Holding AG Adecco Group Pastelería Totel, S.L. Biolands International Ltd.
1 Company ceased to be a related party during fiscal year 2007/08 2 Company ceased to be a related party during fiscal year 2006/07
Nature of cost/revenue
2007/08 14,881 14,609 – 272 (4,560 ) (4,560) 9,050 1,656 6,896 363 60 75 35 – 35 – 1,982 295 1,613 14 60
2006/07 36,796 35,302 1,365 129 – – 7,116 1,820 5,035 108 – 153 6,254 6,166 – 88 1,722 283 1,404 35 –
Revenue from sales and services Revenue from sales and services Revenue from sales and services
Cost of goods sold
Management services Human resources services Management services Management services
Transactions with related parties were carried out on commercial terms and conditions at market prices. All receivables from related parties are non-interest bearing and their collection is expected within the next twelve months.
