Page 45 - Hoftex Annual Report 2018 EN

Liabilities to affiliated companies include EUR 6,174 thousand (prior year: EUR 109 thousand) in liabilities to the principal shareholder ERWO Holding AG and other companies of the ERWO affiliated group. Of that amount, EUR 4,354 thousand relates to temporary working capital loans granted by China-based Zhangjiagang Yangtse Spinning Co. (ZYS) to Tenowo Huzhou Ltd., which bear interest at current rates. Due to a merger at the level of ERWO Holding AG with economic effect from 1 January 2018, ZYS is considered an affiliated company this year, while it was not last year. The EUR 6,343 thousand under other liabilities has thus changed accordingly. At EUR 205 thousand (prior year: EUR 116 thousand), liabilities to affiliated companies relate to delivery and service transactions, while EUR 1,620 thousand (prior year: EUR 0 thousand) relate to other liabilities.
31.12.2018 31.12.2017 Residual maturity Less than 1 to 5 More than Less than 1 to 5 More than
1 year years 5 years 1 year years 5 years
Letter to Shareholders Supervisory Board Report Group Management Report Consolidated Financial Statements Annexes
Liabilities to banks 10,399 41,188 0 2,225 40,000 10,000 Trade payables 6,800 0 0 5,872 0 0 Liabilities on bills accepted and drawn 134 0 0 394 0 0 Liabilities to affiliated companies 6,179 0 0 116 0 0 Other liabilities 1,296 0 0 9,300 0 0
of which taxes (341) (0) (0) (557) (0) (0) of which social security (144) (0) (0) (75) (0) (0)
As a group, HOFTEX GROUP AG and its subsidiaries are jointly and severally liable for all debts to their
lending banks.
24,808 41,188 0 17,907 40,000 10,000
(19) Classification of sales
2018 2017
By division
Hoftex 22,735 27,279 Neutex 15,243 16,818 Tenowo 133,871 136,443 Other 2,254 2,069
By region
174,103 182,609
Germany 70,056 71,255 Other EU member states 49,742 52,531 Rest of world 54,305 58,823
174,103 182,609
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