5.2 Related party transactions and balances

The identified related parties of the group are its group companies, its joint ventures and associates, shareholders with significant influence, its pension fund and the members of the Board of Management and Supervisory Board. The PostNL group companies have trading relationships with a number of joint ventures as well as with companies in which PostNL holds minority stakes. In some cases, there are contractual arrangements in place under which PostNL companies source supplies from such undertakings, or such undertakings source supplies from PostNL. Transactions are carried out at arm's length.

During 2023, sales of PostNL to joint ventures and associates amounted to €3 million (2022: €3 million). Purchases of PostNL from joint ventures and associates amounted to €0 million (2022: €0 million). The net amounts due from the joint ventures and associates amounted to €0 million (2022: €0 million). Related party transactions with PostNL’s pension fund are presented in note 3.5 to the consolidated financial statements.

PostNL considers the members of the Board of Management and Supervisory Board as key management personnel as defined by IAS 24. For disclosure on related party transactions with the Board of Management and Supervisory Board, see note 5.1 to the consolidated financial statements.