Kesko's year 2007

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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
Year 2007 Divisions The Group Financial statements Further information € million 2007 2006 Advance payments Acquisition cost at 1 January 2.2 0.4 Increases 1.6 2.9 Decreases -1.3 -1.0 Transfers between groups 0.0 -0.2 Acquisition cost at 31 December 2.5 2.2 Book value at 31 December 2.5 2.2 12. Tangible assets Land and water Acquisition cost at 1 January 114.5 121.5 Increases 4.3 10.7 Decreases -6.7 -17.7 Transfers between groups 0.0 - Acquisition cost at 31 December 112.2 114.5 Book value at 31 December 112.2 114.5 Buildings Acquisition cost at 1 January 503.9 564.4 Increases 19.1 24.5 Decreases -13.6 -85.4 Transfers between groups 3.9 0.4 Acquisition cost at 31 December 513.2 503.9 Accumulated depreciation at 1 January Accumulated depreciation on decreases 166.2 176.1 and transfers -1.7 -32.0 Depreciation for the financial year 17.4 22.1 Accumulated depreciation at 31 December 181.8 166.2 Book value at 31 December 331.4 337.7 Machinery and equipment Acquisition cost at 1 January 25.1 29.2 Increases 1.0 1.1 Decreases -0.8 -5.2 Transfers between groups 0.2 0 Acquisition cost at 31 December 25.5 25.1 Accumulated depreciation at 1 January Accumulated depreciation on decreases 18.4 18.6 and transfers -0.6 -2.5 Depreciation for the financial year 1.8 2.2 Accumulated depreciation at 31 December 19.6 18.3 Book value at 31 December 6.0 6.8 Other tangible assets Acquisition cost at 1 January 12.5 14.9 Increases 1.1 0.5 Decreases -0.3 -2.9 Transfers between groups 0.4 0 Acquisition cost at 31 December 13.7 12.5 139 € million 2007 2006 Accumulated depreciation at 1 January 5.4 5.4 Accumulated depreciation on decreases and transfers 0.0 -1.0 Depreciation for the financial year 1.1 1.0 Accumulated depreciation at 31 December 6.5 5.4 Book value at 31 December 7.2 7.1 Advance payments and construction in progress Acquisition cost at 1 January 5.2 1.5 Increases 4.7 4.1 Decreases - - Transfers between groups -4.5 -0.4 Acquisition cost at 31 December 5.4 5.2 Book value at 31 December 5.4 5.2 Revaluation of non-current assets At the end of the financial year, Kesko Corporation's balance sheet did not contain revaluations. 13. Investments Holdings in Group companies Acquisition cost at 1 January 388.0 731.3 Increases 109.7 8.0 Decreases -93.7 -351.3 Acquisition cost at 31 December 404.0 388.0 Accumulated depreciation at 1 January 0.2 67.4 Value adjustments 1.5 -67.2 Accumulated depreciation at 31 December 1.7 0.2 Book value at 31 December 402.3 387.8 Holdings in participating interests Acquisition cost at 1 January 20.0 29.3 Increases - 0.2 Decreases -0.2 -9.5 Acquisition cost at 31 December 19.8 20.0 Book value at 31 December 19.8 20.0 Other shares and similar rights of ownership Acquisition cost at 1 January 16.3 17.0 Increases 0.7 1.0 Decreases -9.7 -1.8 Acquisition cost at 31 December 7.3 16.3 Book value at 31 December 7.3 16.3 Kesko Corporation's ownership interests in other companies as at 31 December 2007 are presented in the notes to the consolidated financial statements. During the period, Keswell Ltd, a subsidiary wholly-owned by Kesko Corporation, was merged into Kesko Corporation. Among subsidiaries directly owned by Kesko Corporation, other changes took place in real estate companies only. A total of two real estate companies were sold outside the Group.
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Kesko’s year 2007
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Year 2007 Contents Divisions The Gr
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Year 2007 the best offers Divisions
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Year 2007 Financial highlights for
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Year 2007 list. In 2008, we intend
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Year 2007 Competitive environment F
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Year 2007 Divisions The Group Finan
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Year 2007 Kesko Food Divisions The
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Year 2007 Health-promoting and resp
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Year 2007 Rautakesko Divisions The
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Year 2007 VV-Auto VV-Auto imports a
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Year 2007 Heini a suitable price in
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Year 2007 Kesko Agro Kesko Agro’s
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Year 2007 Kesko Agro Divisions The
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Year 2007 Other operating activitie
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Year 2007 high quality Divisions Th
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Year 2007 Real estate operations in
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Year 2007 Johanna was attracted to
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Year 2007 Competitive advantage fro
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Year 2007 Decision-making Divisions
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Year 2007 Maarit Näkyvä b. 1953,
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Year 2007 Pekka Lahti b. 1955, M.Sc
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Year 2007 Key indicators Group’s
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Year 2007 Consolidated cash flow st
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Page 103 and 104: Year 2007 Note 12 Tangible assets
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Page 107 and 108: Year 2007 Changes in deferred taxes
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Page 111 and 112: Year 2007 Note 26 Changes in share
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Page 117 and 118: Year 2007 Note 35 Contingent liabil
Page 127 and 128: Year 2007 Economic value added form
Page 131 and 132: Year 2007 Consolidated operations D
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Page 145 and 146: Year 2007 Shares and shareholders D
Page 147 and 148: Year 2007 Key indicators Share pric
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Page 155 and 156: Year 2007 Latvia Rautakesko A/S Ren
Page 157 and 158: Year 2007 Logistics is a process in
Page 159 and 160: Design and layout: Incognito Photos
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Kesko's year 2007

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