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138 <strong>Kesko's</strong> <strong>year</strong> <strong>2007</strong><br />
Notes to the income statement<br />
€ million <strong>2007</strong> 2006<br />
1. Other operating income<br />
Profits on sales of real estate and shares 51.9 95.5<br />
Rent income 197.4 271.9<br />
Merger profit - 120.0<br />
Others 0.5 0.3<br />
Total 249.8 487.7<br />
2. Average number of personnel<br />
Kesko Corporation 174 179<br />
Total 174 179<br />
3. Personnel expenses<br />
Salaries and fees<br />
Social security expenses<br />
10.6 9.9<br />
Pension expenses 2.1 1.0<br />
Other social security expenses 1.0 1.0<br />
Total 13.7 11.9<br />
Salaries and fees to the management<br />
Managing Director and his deputy 0.7 0.6<br />
Board of Directors' members 0.3 0.3<br />
Total 1.0 0.9<br />
An analysis of the management's salaries and fees is included<br />
in the notes to the consolidated financial statements.<br />
4. Depreciation and value adjustments<br />
Depreciation according to plan 22.5 28.5<br />
Value adjustments, non-current assets 1.5 0.0<br />
Total 24.0 28.5<br />
5. Other operating expenses<br />
Rent expenses 117.1 194.2<br />
Marketing expenses 3.0 0.7<br />
Maintenance of real estate and store sites 17.1 15.6<br />
Data communications expenses 11.1 10.0<br />
Losses on sales of real estate and shares 0.1 3.3<br />
Merger losses 16.2 -<br />
Other operating expenses 8.0 8.2<br />
Total 172.5 232.0<br />
6. Financial income and expenses<br />
Dividend income<br />
From Group companies 23.4 2.6<br />
From participating interests - 1.5<br />
From others 0.0 2.7<br />
Dividend income, total<br />
Other interest and financial income<br />
23.4 6.8<br />
From Group companies 47.9 32.4<br />
From others 26.4 12.8<br />
Interest income, total 74.3 45.2<br />
€ million <strong>2007</strong> 2006<br />
Interest and other financial expenses<br />
To Group companies -21.4 -21.7<br />
To others -28.5 -19.7<br />
Interest expenses, total -49.9 -41.4<br />
Total 47.8 10.6<br />
7. Items included in extraordinary<br />
income and expenses<br />
Contributions from Group companies 171.3 161.0<br />
Contributions to Group companies -32.7 -31.3<br />
Total 138.6 129.7<br />
8. Appropriations<br />
Difference between depreciation<br />
according to plan<br />
and depreciation in taxation 5.8 21.7<br />
Total 5.8 21.7<br />
9. Changes in provisions<br />
Future rent expenses for vacant business<br />
premises -1.1 -0.8<br />
Other changes 0.0 0.2<br />
Total -1.1 -0.6<br />
10. Income taxes<br />
Income taxes on extraordinary items -36.0 -33.7<br />
Income taxes on operating activities -18.3 -52.8<br />
Total -54.4 -86.4<br />
Deferred taxes<br />
Deferred tax liabilities and assets have not been included in the balance<br />
sheet. The amounts are not significant.<br />
Notes to the balance sheet<br />
€ million <strong>2007</strong> 2006<br />
11. Other capitalised expenditure<br />
Acquisition cost at 1 January 39.7 41.8<br />
Increases 0.1 0.8<br />
Decreases -1.5 -3.1<br />
Transfers between groups 0.0 0.2<br />
Acquisition cost at 31 December 38.3 39.7<br />
Accumulated depreciation at 1 January<br />
Accumulated depreciation on decreases<br />
29.3 28.0<br />
and transfers -0.9 -1.8<br />
Depreciation for the financial <strong>year</strong> 2.2 3.1<br />
Accumulated depreciation at 31 December 30.6 29.3<br />
Book value at 31 December 7.7 10.4