Kesko's year 2007

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26 Kesko's year 2007 Anttila Number Number Sales*, € million Sales*, € million 2007 2006 2007 2006 Anttila department stores 28 27 398 391 Kodin Ykkönen department stores 8 8 184 172 Distance sales (Mail order, NetAnttila, Kodin1.com) 2 - 89 84 Finland total 38 35 671 648 Anttila mail order, Estonia and latvia 2 - 19 20 Other countries total 2 - 19 20 Anttila total 40 35 689 668 * (incl. VAT) Anttila financial highlights, continuing operations 2007 2006 Net sales € million 564 548 Operating profit € million 27.2 38.7 Operating profit as % of net sales % 4.8 7.1 Operating profit excl. non-recurring items € million 25.2 26.5 Operating profit as % of net sales excl. non-recurring items % 4.5 4.8 Depreciation € million 6.1 8.1 Investments Return on net assets excl. non-recurring € million 5.8 4.6 items* % 18.3 17.0 Personnel average * cumulative average 2,045 2,122 Net sales 2007, continuing operations € million change, % Anttila Group 564 2.9 Net assets at 31 December, € million 2007 2006 Non-current assets 53 67 Inventories 99 90 Short-term receivables 43 39 ./. Non-interest-bearing debt -75 -72 ./. Provisions -1 0 Net assets* 120 125 * net assets at the end of month
Year 2007 Kesko Agro Kesko Agro’s K-maatalous chain purchases and sells animal feed, chemicals and machinery to agricultural entrepreneurs and trades in grain. Kesko Agro is active in Finland and in all the Baltic countries. Market In Finland, Kesko Agro and 95 K-maatalous agricultural stores form the K-maatalous chain. About half of the stores in the chain are combined with Rautia under the name ’Rautia-K-maatalous’, or with K-rauta under the name ’K-rauta-K-maatalous’. The K-maatalous chain’s major customer groups are agricultural entrepreneurs (farmers) and contractors. K-maatalous provides agricultural entrepreneurs with solutions that help them efficiently produce the safe and pure foodstuffs that are valued by consumers. The total Finnish agricultural market is valued at about €2 billion. There are two big operators: the Agrimarket chain of Hankkija- Divisions The Group Financial statements Further information 27 Maatalous is the market leader with a share of 46%, while the K-maatalous chain ranks second with a market share of about 35%. Valtra and Agritek are major competitors in the tractor trade. Kesko Agro Eesti AS in Estonia, SIA Kesko Agro Latvija in Latvia and UAB Kesko Agro Lietuva in Lithuania are the Kesko Agro subsidiaries that are involved in the agricultural trade in the Baltic countries. The Baltic market is currently valued at about €1.2 billion. Kesko Agro is the market leader in the Baltic agricultural trade with a market share of about 25% in Estonia, about 26% in Latvia and about 11% in Lithuania. Strengths The K-maatalous chain’s strengths in Finland include the K-maatalous retailers, who know the local customers and circumstances, and the wide product range combined with the comprehensive services and network. In the Baltic countries, its strengths include Kesko Agro’s position in the machinery trade and the comprehensive sales and service network. The best-known product brands represented by Kesko Agro include Massey Ferguson tractors, Claas combines and forage harvesters, and the Tume and Elho agricultural implements made in Finland. Active contacts and sales and the utilisation of data and information technology provide the basis for close cooperation between farmers and K-maatalous and Kesko Agro. The popular trade-in machinery service, the web trading place and revised web pages provide many kinds of information and services to farmers and other partners. Kesko Agro and Rautakesko are working together to develop the combined Rautia-Kmaatalous stores into innovators in the sector. The chains aim to duplicate the best practices of individual stores throughout the entire chain and, in that way, improve customer service and operational efficiency. The Cultivation Programme of K-maatalous provides solutions that improve the profitability of cultivation while meeting the needs of each farmer. The cultivation programme includes guidelines on the choice of seed, on fertilisation, on plant protection and liming. The K-Experimental Farm in Hauho does pioneering research and development for agriculture by testing plant varieties, fertilisation and protection. The annual Kone-Forum exhibition, the most important event in the agricultural machinery calendar, gives customers an opportunity to become acquainted with the new products and machinery offered for the coming season. Experts of K-maatalous assist customers in questions related to the use of machinery and in the planning of machinery purchases, while taking farm-specific needs into account. Year 2007 In 2007 Kesko Agro’s net sales were €793.4 million, an increase of 5.1% over the previous year. In the Baltic countries Kesko Agro’s net sales increased by 7.9% to €294.6 million. Kesko Agro’s operating profit excluding nonrecurring items was €12.4 million in 2007, which was €4.6 million more than in the previous year. Kesko Agro improved its operational efficiency in 2007 by renewing its organisation and business models. K-maatalous and Kesko Agro will continue to focus on improving customer satisfaction by offering the best solutions, a diversified product range and excellent services. Objectives and outlook The objective of K-maatalous is to improve its profitability in the agricultural trade. To do this, it will focus on developing the machinery trade and after-sales services in Finland and the Baltic countries. Another area of development in Finland will be the Cultivation Programme. The rising prices of grain and other agricultural products are creating positive expectations for next year’s agricultural trade. Regardless of the structural changes taking place in the sector, it is expected that in 2008, Kesko Agro’s net sales and operating profit excluding non-recurring items will match the level of 2007.
Page 1 and 2: Kesko’s year 2007
Page 3 and 4: Year 2007 Contents Divisions The Gr
Page 5 and 6: Year 2007 the best offers Divisions
Page 7 and 8: Year 2007 Financial highlights for
Page 9 and 10: Year 2007 list. In 2008, we intend
Page 11 and 12: Year 2007 Competitive environment F
Page 13 and 14: Year 2007 Divisions The Group Finan
Page 15 and 16: Year 2007 Kesko Food Divisions The
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Page 23 and 24: Year 2007 VV-Auto VV-Auto imports a
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Page 69 and 70: Year 2007 Maarit Näkyvä b. 1953,
Page 71 and 72: Year 2007 Pekka Lahti b. 1955, M.Sc
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Year 2007 Divisions The Group Finan
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Year 2007 Key indicators Group’s
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Year 2007 Share capital and shares
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Year 2007 Latvia Rautakesko A/S Ren
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Year 2007 Logistics is a process in
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Design and layout: Incognito Photos
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Kesko's year 2007

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