Kesko's year 2007

Year 2007
Note 7
Staff costs, number of employees and
management's salaries
Divisions The Group
Financial
statements
Further information
€ million 2007 2006
Salaries and fees -501.1 -459.5
Social security costs -47.8 -43.9
Pension costs -24.9 -38.7
Defined benefit plans 25.0 11.2
Defined contribution plans -49.9 -49.9
Stock options granted -2.3 -2.1
Total -576.1 -544.2
The employee benefits and loans of the Group's management are disclosed
in Note 46 Related party transactions and information concerning
stock option plans are presented in Note 37.
Salaries and fees of Group companies' Managing Directors and
Boards of Directors
Salaries of managing directors
(incl. fringe benefits) 6.6 7.8
Fees of Board members 0.3 0.4
Total 6.9 8.2
Average number of the Group employees 2007 2006
Kesko Food 5,964 6,171
Rautakesko 9,111 7,420
VV-Auto 737 621
Anttila 2,058 2,058
Kesko Agro 797 885
Other operating activities 2,233 2,135
Other entities 276 372
Total Group companies 21,176 19,662
Joint ventures - 4,105
Total Kesko Group 21,176 23,767
Note 8
Financial income and expenses
97
€ million 2007 2006
Financial income
Dividend income from available-for-sale
financial assets
Interest income from loans and other
0.1 2.8
receivables
Interest income from financial assets car-
26.9 20.1
ried at fair value through profit or loss
Interest income from available-for-sale
4.1 0.2
financial assets 7.6 2.7
Interest income
Exchange differences and fair value changes
of derivative financial instruments and currency-denominated
loans and bank
38.6 23.0
accounts not qualified for hedge accounting
Gains from disposals of available-for-sale
11.1 8.5
financial assets 37.2 3.8
Total 87.1 38.1
Financial expenses
Interest expenses on financial liabilities
carried at amortised cost
Exchange differences and fair value changes
of derivative financial instruments and
currency-denominated loans and bank
-33.1 -32.2
accounts not qualified for hedge accounting -15.7 -7.7
Other financial expenses -1.3 -3.7
Total -50.1 -43.6
Total financial income and expenses 37.0 -5.5
The gains on disposal of available-for-sale financial assets include the
€37.1 million gain on the disposal of SATO shares.
Other financial expenses include €0.6 million (€3.0 million) in servicing
fees for customer finance receivables sold.
Financial expenses include €10.8 (€10.5 million) in interest on
finance leases recognised as expenses for the period. Financial income
include €1.6 (€1.4 milion) in interest on finance leases reported as
income for the period.
The profit from the realised interest rate derivative instruments used
to hedge the USD-denominated private placement loan is recognised in
net terms in interest expenses with the loan interest.
Exchange differences recognised in the income statement
€ million 2007 2006
Net sales -0.1 -0.2
Purchases and other expenses -4.5 6.0
Financial income and expenses -4.7 0.5
Total -9.3 6.3