Kesko's year 2007

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