35. Additional disclosures pursuant to Section 315e (1) of the German Commercial Code (HGB)

 

Total remuneration of the executive bodies

The amounts presented below for the remuneration of the Management Board and the Supervisory Board of NORMA Group SE result from the valuation principles defined in the German GAAP (HGB) and may differ from the amounts recognized in the IFRS Consolidated Financial Statements.

The remuneration of the Management Board and Supervisory Board was as follows:

The defined benefit obligation of pension commitments to prior members of the Management Board and their dependents was EUR 1,014 thousand as of December 31, 2022 (2021: EUR 923 thousand).

Further information on the remuneration of the members of the Management Board of NORMA Group SE can be found in the  REMUNERATION REPORT.

 

Fees for the auditor

Fees for the auditor, PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt/Main were expensed as follows:

The other assurance services relate to the audit of the non-financial statement, assurance services for financial covenants, and the European Market Infrastructure Regulation (EMIR) audit in accordance with Section 20 WpHG.

Other services include fees in connection with the support of the self-assessment of the Supervisory Board.

 

Headcount

The average headcount breaks down as follows:

The category ‘direct labor’ consists of employees who are directly engaged in the production process. The numbers fluctuate according to the level of output. The category ‘indirect labor’ consists of personnel that does not directly produce products, but rather supports production. Salaried employees are employees in administrative / sales / central functions.

 

Scope of consolidation

Name, place of domicile and share in capital pursuant to Section 313 (2) No. 1 HGB of the consolidated group of companies is presented in  NOTE 4 ‘SCOPE OF CONSOLIDATION’.

 

Proposal for the distribution of the earnings

The Management Board of NORMA Group SE proposes to the Annual General Meeting to pay a dividend of EUR 0.55 per share to the shareholders. The total dividend payment would thus amount to EUR 17,524,320.

 

Declaration of Compliance with the German Corporate Governance Code (Section 161 AktG)

The Management Board and Supervisory Board have issued a Corporate Governance Declaration pursuant to section 161 of the German Stock Corporation Act (Aktiengesetz) and made it available to shareholders on the website of NORMA Group.