Kesko's year 2007

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42 Suppliers and service providers Kesko's year 2007 ness in home and speciality goods with the NetAnttila and Kodin1.com concepts. There is plenty of scope for expansion in e-commerce in other product lines, too. Responsible and cost-efficient business models Cost-efficient operations build price competitiveness and customer satisfaction in retailing. This is also a basic requirement for increasing Kesko’s profitability and shareholder value. Sustainable development and responsible operating practices The principles of sustainable development and responsible operating practices are highlighted in Kesko’s strategy. Consumer-customers require that the trading sector bear responsibility for products’ safety and healthiness, and for the environmental and social impact of business operations. Responsible operating practices are an integral part of Kesko in the value chain of trade Data management and logistics Data management Sourcing services logistics services Marketing and store support ● Development of store concepts ● Customer loyalty marketing and K-Plussa ● Brand management ● Store sites ● Retailer resources ● hR development ● Other support services Kesko and its chains. The results of responsible operations are reported annually in Kesko’s Corporate Responsibility Report. Efficient combination of retailer entrepreneurship and chain operations and leveraging economies of scale Kesko’s strategic objectives include the combination of retailer entrepreneurship and efficient chain operations. Consequently cooperation between K-retailers and Kesko takes place in close chains. K-retailers are responsible for customer service, local selections and delivering the customer promise in their stores. Kesko’s efficient chain operations and joint processes provide support to retailers. Chain operations offer the retailer a joint business concept which includes, among other things, chain control and business management support related to chain selection, maximum pricing and marketing. The chains’ joint, division-specific processes generate synergy benefits in purchasing, private labels, Customer service Retailing through retailer entrepreneurs ●43% of Kesko’s net sales Own retailing ●●31% of Kesko’s net sales B-to-B sales ●●26% of Kesko’s net sales Information and cash flow Goods and services flow Consumer customers
Year 2007 Divisions The Group Financial statements Further information 43 logistics, information systems and acquisition of store sites. Kesko participates in international purchasing cooperation in various product lines, which increases purchasing volumes and efficiency. The most important joint organisations in which Kesko participates include AMS Sourcing B.V. in the grocery trade, Euro- Mat in the building and home improvement trade, Intersport International Corporation in the sports trade and Electronic Partner International in the home technology trade. Data management in guiding business Efficient data management has a key position in creating customer-driven selections, guiding the flow of merchandise efficiently, in targeted customer marketing and in steering international business. Kesko’s information systems are developed for the particular needs of each division, while also leveraging the Group-wide synergy benefits achieved through centralisation. When e-commerce continues to spread, the importance of data Financial objectives management will be emphasised further. The planning systems Kesko has chosen are largely based on the SAP enterprise resource planning system. Best retailing competence Developing the competence of personnel is a key factor in the K-Group’s competitiveness. Emphasis areas in HR development include competence in retailing and international trading, customer and service competence and development of management skills. K-instituutti, the K-Group’s training centre, specialises in the training of retail store staff, managers and retailers. In 2007, a total of about 22,100 persons participated in the K-instituutti training programmes. Objective Target level Realised 2007 Growth in net sales In Finland growth exceeding that of market Increasing proportion of international operations Realised: Kesko Food, VV-Auto, Konekesko, Intersport Finland, Musta Pörssi Growth 2.2% points (continuing operations) Return on equity 14% 16% excl. non-recurring items 12.7% Return on invested capital 16% 17% excl. non-recurring items 14.5% Interest-bearing net debt/ EBITDA < 3 0.6 Equity ratio 40–45% 48% Economic value added Internal indicator growing positive EVA Realised
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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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Design and layout: Incognito Photos
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