28 Related party transactions
00 Ahold ANNUAL REPORT 2002 159
BOARD GOVERNANCE HIGHLIGHTS OPERATING REVIEW FINANCIAL INVESTOR REL AT IONS
In the ordinary course of business, Ahold generated sales from transactions with the ICA joint venture, which amounted to
EUR 6 in fiscal 2002 and EUR 3 in fiscal 2001. At the end of fiscal 2002 amounts receivable from the ICA joint venture
totaled EUR 4 and at the end of fiscal 2001 amounts payable to the ICA joint venture were EUR 1.
In the ordinary course of business, Luis Paez, an equity investee of Ahold, generated sales from transactions with Ahold,
which amounted to EUR 7 in fiscal 2002, EUR 7 in fiscal 2001 and EUR 8 in fiscal 2000. The Company provided
financing to Luis Paez and received interest from Luis Paez of EUR 4 in fiscal 2002, EUR 2 in fiscal 2001 and EUR 2 in
fiscal 2000. At the end of fiscal 2002 and 2001, amounts receivable from Luis Paez totaled EUR 82 and EUR 82,
respectively.
Ahold provided financing to its joint venture JMR, and received interest from JMR of EUR 5 in fiscal 2002 and EUR 3 in
fiscal 2001. At the end of fiscal 2002 and 2001, amounts receivable from Jéronimo Martins Retail Services AG totaled
EUR 42 and EUR 130, respectively. Ahold also provided services to Jéronimo Martins Retail Services AG, for which Ahold
received EUR 8 in fiscal 2002, EUR 7 in fiscal 2001 and EUR 8 in fiscal 2000.
Paiz Ahold, a joint venture, provided financing to Ahold, and received interest of EUR 1 in fiscal 2002, EUR 8 in fiscal
2001 and EUR 12 in fiscal 2000. At the end of fiscal 2002 and 2001, amounts payable to Paiz Ahold totaled EUR 48
and EUR 193, respectively. Ahold also had service transactions with Paiz Ahold, for which Ahold received EUR 1 in fiscal
2002 and EUR 1 in fiscal 2001.
Starting in the second half of fiscal 2002, DAIH is included in the consolidated figures of Ahold. In the first half of fiscal
2002, Ahold received interest from DAIH for financing activities for a total amount of EUR 12 (fiscal 2001: 22; fiscal
2000: 11). At the end of fiscal 2001, amounts receivable from DAIH totaled EUR 390. Ahold also provided services to
DAIH, for which Ahold received EUR 1 in the first half of fiscal 2002 and EUR 2 in fiscal 2001.
Ahold also had service transactions with its equity investee Accounting Plaza B.V. ("Accounting Plaza"), an equity investee
that renders accounting and administrative services to certain Ahold subsidiaries in the Netherlands, which amounted to
EUR 20 in fiscal 2002. During fiscal 2001 and 2000 Accounting Plaza was a consolidated subsidiary, and therefore the
transactions were eliminated in consolidation. Amounts receivable from Accounting Plaza at December 29, 2002 totaled
EUR 1. Amounts payable to Accounting Plaza at December 29, 2002 were totaled EUR 3.
Ahold also had service transactions with Kobalt Media Service B.V., an equity investee that renders promotional and
advertising services to certain Dutch Ahold subsidiaries, which amounted to EUR 44 in fiscal 2002 (EUR 38 in fiscal
2001 and EUR 44 in fiscal 2000).
In January 1994, a group of Ahold's Dutch managers and employees acquired a EUR 15 capital investment in the AHVKF,
an independent investment fund that primarily invests all of its assets in Ahold's shares and debt. The capital investment
had previously been held by Het Weerpad B.V., an investment company of the Heijn family, founders of Ahold. The
Company made loans to this group of managers and employees, which included some of Ahold's officers, to assist them
with their investment in the AHVKF. These floating-rate loans, bearing fluctuating interest based on the European Central
Bank interest rates on deposits, are generally due in ten years from issuance or upon an individual's termination of
employment, if earlier, and are collateralized by each individual's corresponding investment in the AHVKF.
In July 1996 and April 1998, additional loans were granted to Ahold's Dutch managers and employees to purchase
additional investments in the AHVKF. Some officers participated in these purchases. As of December 29, 2002, a total of
EUR 41 of loans was outstanding, including EUR 0.5 in amounts due from Ahold's officers (2001: 0.4).
All receivables and payables arising from related party transactions are settled in cash.
