The Company’s profit for the year includes transactions with subsidiary companies comprising principally comprising of charter income of €18.6 million (2021: €18.6 million), dividends received of €38.0 million (2021: €nil million) and interest payable of €0.1 million (2021: €3.8 million). Details of loan balances to / from subsidiaries are provided in the Company Statement of Financial Position on page 182, in note 45 ‘Trade and other payables’, in note 42 ‘trade and other receivables’ and in the table below.
The Company has provided Letters of Financial Support for certain of its other subsidiaries.
At 31 December the following amounts were due to or from the Company by its subsidiaries:
|
2022 |
2021 |
|
€m |
€m |
Amounts due from subsidiary companies (note 42) |
1.1 |
54.3 |
Amounts due to subsidiary companies (note 45) |
(3.4) |
(31.2) |
|
(2.3) |
23.1 |
The amounts outstanding are unsecured and will be settled in cash. No guarantees have been given or received. Certain of the balances are trading balances and will be settled on normal credit terms. Other balances are repayable on demand.