130 / 158
8. OPERATING INCOME AND EXPENSES
Other operation expenses comprise the remuneration of the members of the Board of Management and
members of the Supervisory Board for a total amount of EUR 7.6 million
(see note 30.2)as well as other
third party expenses (EUR 0.8 million). Other operating expenses are born by Group companies and these
are reported as Other operating income.
9. REMUNERATION OF THE MEMBERS OF THE BOARD OF MANAGEMENT AND MEMBERS
OF THE SUPERVISORY BOARD
The remuneration of members of the Board of Management and members of the Supervisory Board is
disclosed in the consolidated financial statements under Related party transactions (
note 30.2).
10. AUDITOR REMUNERATION
With reference to Section 382A, Part 9 of Book 2 of the Dutch Civil Code, Ernst & Young Accountants LLP
charged the following fees to the Company, its subsidiaries and other consolidated entities:
2016
2015
Audit of the financial statements
1,705
1,422
Other audits
88
69
1,793
1,491
Total audit fees, including fees for auditors other than Ernst & Young Accountants LLP, related to the audit of
the financial statements amounted to EUR 2.5 million (2015: EUR 2.2 million).
11. COMMITMENTS AND CONTINGENT LIABILITIES
Royal Boskalis Westminster N.V. heads a fiscal unity. The company is therefore liable for the tax
obligations of the fiscal unity as a whole.
The Company has arrangements with third parties, amongst which banks and pension funds. These
arrangements are on behalf of Group companies. Because the risks and rewards are with these Group
companies, the costs are charged to these companies and the liabilities are recognized by these
companies. The Company is jointly and severally liable for the fulfillment of obligations.
The Company has issued guarantees on behalf of project-driven construction consortiums, and Group
companies’ own contracts, amounting to EUR 1.0 million as at 31 December 2016 (2015: EUR 1.0
million). In addition, certain recourse obligations exist in respect of project financing. Where necessary,
provisions are deemed to have been made.
Some legal proceedings and investigations are ongoing with respect to entities of Royal Boskalis
Westminster N.V. Where necessary, provisions are deemed to have been made.
Papendrecht / Sliedrecht, 7 March 2017
Supervisory Board
J.M. Hessels, chairman
Ms. I. Haaijer
H.J. Hazewinkel
M. Niggebrugge
J. van der Veer
J.N. van Wiechen
C. van Woudenberg
Board of Management
dr. P.A.M. Berdowski, chairman
T.L. Baartmans
J.H. Kamps
130
ANNUAL REPORT 2016 – BOSKALIS
FINANCIAL STATEMENTS 2016