ANNUAL REPORT 2012

Financials

26. Related party transactions


Fiskars has no significant transactions, liabilities or receivables with its associated company, Wärtsilä. The dividend from Wärtsilä, EUR 26.8 million (40.9), has been reported as Dividends from associate in the Consolidated Statement of Cash Flows. The dividend was received in the first quarter of 2012. Iittala Group Oy Ab rents real estate from its associate Koy Iittalan Lasimäki and has granted a capital loan to the company at inception. The Chairman of the Board was awarded a onetime consultancy fee of EUR 200,000 for consultancy work related to the negotiation of the partnership agreement between Fiskars Group and Investor AB regarding long-term ownership of Wärtsilä.


In 2011 Fiskars has booked fees for legal services to Foley & Lardner LLP where Ralf Böer, board member of Fiskars, was Chairman and CEO until June 1, 2011. Ralf Böer did not provide any of the services, and total fees paid to Foley represent less than 0.25% of Foley's revenues.


EUR million 2012 2011
Rent 0.2 0.1
Capital loan 0.2 0.2
Legal service fees
0.4














Shareholdings of the Board and key management, December 31

Includes holding of corporations under controlling power together with a family member.



2012 2011


Holdings of

Holdings of

Own controlled
Own controlled

holdings corporations Total holdings corporations Total
Bergh Kaj-Gustaf 5,000
5,000 5,000
5,000
Böer Ralf 5,677
5,677 5,677
5,677
Ehrnrooth Alexander 1,625,000 10,227,000 11,852,000 1,625,000 10,200,000 11,825,000
Ehrnrooth Paul 8,205 9,095,406 9,103,611 8,205 9,030,406 9,038,611
Fromond Louise 601,135 8,294,050 8,895,185 601,135 8,229,050 8,830,185
Gripenberg Gustaf 243,320 4,057,289 4,300,609 243,320 4,057,289 4,300,609
Jonasson Blank Ingrid 0
0 0
0
Slotte Karsten 1,000
1,000 1,000
1,000
Suominen Jukka 1,500
1,500 1,500
1,500







Alfthan Max 2,500
2,500 2,500
2,500
Gaggl Risto* 0
0


Kangas-Kärki Teemu**


2,000
2,000
Karlsson Jutta 0
0 0
0
Kauniskangas Kari 28,897
28,897 26,397
26,397
Korhonen Hille***


3,350
3,350
Pitkänen Ilkka**** 1,750
1,750









The Directors and the CEO do not have any debts to the company; nor has the company given pledges or taken on other responsibilities in their names. The shareholdings of the Board and key management represent in total 41.8% of the outstanding shares of the company.


* Member of the Executive board as of November 20, 2012.

** Member of the Executive board until March 2, 2012.

*** Member of the Executive board until October 31, 2012.

**** Member of the Executive board as of August 27, 2012.


Remuneration of the Board and key management


EUR thousand 2012 2011
Bergh Kaj-Gustaf 98.4 92.0
Böer Ralf 49.0 44.0
Ehrnrooth Alexander 64.0 62.6
Ehrnrooth Paul 63.4 62.0
Fromond Louise 47.2 45.2
Gripenberg Gustaf 49.8 47.2
Jonasson Blank Ingrid 49.0 44.6
Slotte Karsten 46.6 45.2
Suominen Jukka 49.0 44.6



Kauniskangas Kari 829.3 986.4
Executive board excl. President & CEO 1,131.0 1,179.7
Total 2,476.2 2,653.6







The key management consists of the Board of Directors, the President & CEO and the members of Corporate Management Team (Executive Board). The figures are presented on an accrual basis and the figures for the comparison period have been adjusted accordingly.