Kesko's Annual Report 2009
Kesko's Annual Report 2009
Kesko's Annual Report 2009
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140 Kesko financial statements <strong>2009</strong><br />
Notes to the income statement<br />
€ million <strong>2009</strong> 2008<br />
1. Other operating income<br />
Profits on sales of real estate and shares 95.7 128.1<br />
Rent income 164.4 169.8<br />
Merger profit 0.0 0.8<br />
Others 0.9 0.3<br />
Total 261.0 299.0<br />
2. Average number of personnel<br />
Kesko Corporation 147 160<br />
Total 147 160<br />
3. Personnel expenses<br />
Salaries and fees<br />
Social security expenses<br />
9.1 10.0<br />
Pension expenses 0.5 2.1<br />
Other social security expenses 0.7 0.9<br />
Total 10.3 13.0<br />
Salaries and fees to the management<br />
Managing Director and his deputy 0.8 0.8<br />
Board of Directors' members 0.3 0.3<br />
Total 1.1 1.1<br />
An analysis of the management's salaries and fees is included in<br />
the notes to the consolidated financial statements.<br />
4. Depreciation and reduction in value<br />
Depreciation according to plan 22.5 22.5<br />
Reduction in value, non-current assets 9.1 15.0<br />
Total 31.6 37.5<br />
5. Other operating expenses<br />
Rent expenses 90.0 87.6<br />
Marketing expenses 1.0 2.2<br />
Maintenance of real estate and store sites 11.7 15.6<br />
Data communications expenses 12.2 12.2<br />
Losses on sales of real estate and shares 0.7 1.0<br />
Merger losses 0.0 2.7<br />
Other operating expenses 7.0 8.6<br />
Total 122.6 129.9<br />
PricewaterhouseCoopers, Authorised<br />
Public Accountants<br />
Auditor's fees 0.1 0.1<br />
Tax consultation 0.0 0.1<br />
Other fees 0.1 0.1<br />
Total 0.2 0.3<br />
€ million <strong>2009</strong> 2008<br />
6. Financial income and expenses<br />
Dividend income<br />
From Group companies 0.0 6.2<br />
Dividend income, total 0.0 6.2<br />
Other interest and financial income<br />
From Group companies 37.0 50.7<br />
From others 12.8 67.2<br />
Interest income, total<br />
Interest and other financial expenses<br />
49.8 117.9<br />
To Group companies -5.5 -27.8<br />
To others -33.1 -58.8<br />
Interest expenses, total -38.6 -86.6<br />
Total 11.2 37.6<br />
7. Items included in extraordinary<br />
income and expenses<br />
Contributions from Group companies 49.7 153.7<br />
Contributions to Group companies -28.1 -53.9<br />
Total 21.6 99.8<br />
8. Appropriations<br />
Difference between depreciation<br />
according to plan<br />
and depreciation in taxation 39.6 26.5<br />
Total 39.6 26.5<br />
9. Changes in provisions<br />
Future rent expenses for vacant business<br />
premises 0.5 -2.0<br />
Other changes -1.0 3.1<br />
Total -0.5 1.1<br />
10. Income taxes<br />
Income taxes on extraordinary items -5.6 -26.0<br />
Income taxes on operating activities -44.1 -38.6<br />
Total -49.7 -64.7<br />
Deferred taxes<br />
Deferred tax liabilities and assets have not been included in the<br />
balance sheet. The amounts are not significant.<br />
Notes to the balance sheet<br />
€ million <strong>2009</strong> 2008<br />
11. Intangible assets<br />
Other capitalised long-term expenditure<br />
Acquisition cost at 1 January 39.1 38.3<br />
Increases 1.5 0.7<br />
Decreases -1.1 -0.9<br />
Transfers between items 0.7 1.0<br />
Acquisition cost at 31 December 40.2 39.1