Income Statement Group
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NOTE 18
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RELATED PARTY TRANSACTIONS
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As of 31 December 2011 Hafslund ASA owned 43.3 per cent of the shares of Infratek ASA, while Fortum Nordic AB owned 33.0 per cent. Both Hafslund ASA and Fortum Nordic AB are deemed to be related parties. The Infratek Group sells goods and services to the Hafslund Group and the Fortum Group, and, to a lesser extent, purchases goods and services from the Hafslund and Fortum groups. Receivables from related parties largely arise from sales of goods and services. Accounts payable to related parties largely arise from purchases of goods and services.
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Statement of comprehensive income:
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Hafslund
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Fortum
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Amounts in NOK million
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2011
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2010
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2011
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2010
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Sale of goods and services
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553
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669
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707
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617
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Purchases of goods and services
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45
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58
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9
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9
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Statement of financial position:
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Hafslund
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Fortum
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Amounts in NOK million
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2011
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2010
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2011
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2010
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Accounts receivable
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83
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76
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112
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120
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Accounts payable
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2
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3
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-
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1
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Short-term debt
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-
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7
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-
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-
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