Kesko's Annual Report 2009

140 Kesko financial statements 2009
Notes to the income statement
€ million 2009 2008
1. Other operating income
Profits on sales of real estate and shares 95.7 128.1
Rent income 164.4 169.8
Merger profit 0.0 0.8
Others 0.9 0.3
Total 261.0 299.0
2. Average number of personnel
Kesko Corporation 147 160
Total 147 160
3. Personnel expenses
Salaries and fees
Social security expenses
9.1 10.0
Pension expenses 0.5 2.1
Other social security expenses 0.7 0.9
Total 10.3 13.0
Salaries and fees to the management
Managing Director and his deputy 0.8 0.8
Board of Directors' members 0.3 0.3
Total 1.1 1.1
An analysis of the management's salaries and fees is included in
the notes to the consolidated financial statements.
4. Depreciation and reduction in value
Depreciation according to plan 22.5 22.5
Reduction in value, non-current assets 9.1 15.0
Total 31.6 37.5
5. Other operating expenses
Rent expenses 90.0 87.6
Marketing expenses 1.0 2.2
Maintenance of real estate and store sites 11.7 15.6
Data communications expenses 12.2 12.2
Losses on sales of real estate and shares 0.7 1.0
Merger losses 0.0 2.7
Other operating expenses 7.0 8.6
Total 122.6 129.9
PricewaterhouseCoopers, Authorised
Public Accountants
Auditor's fees 0.1 0.1
Tax consultation 0.0 0.1
Other fees 0.1 0.1
Total 0.2 0.3
€ million 2009 2008
6. Financial income and expenses
Dividend income
From Group companies 0.0 6.2
Dividend income, total 0.0 6.2
Other interest and financial income
From Group companies 37.0 50.7
From others 12.8 67.2
Interest income, total
Interest and other financial expenses
49.8 117.9
To Group companies -5.5 -27.8
To others -33.1 -58.8
Interest expenses, total -38.6 -86.6
Total 11.2 37.6
7. Items included in extraordinary
income and expenses
Contributions from Group companies 49.7 153.7
Contributions to Group companies -28.1 -53.9
Total 21.6 99.8
8. Appropriations
Difference between depreciation
according to plan
and depreciation in taxation 39.6 26.5
Total 39.6 26.5
9. Changes in provisions
Future rent expenses for vacant business
premises 0.5 -2.0
Other changes -1.0 3.1
Total -0.5 1.1
10. Income taxes
Income taxes on extraordinary items -5.6 -26.0
Income taxes on operating activities -44.1 -38.6
Total -49.7 -64.7
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 2009 2008
11. Intangible assets
Other capitalised long-term expenditure
Acquisition cost at 1 January 39.1 38.3
Increases 1.5 0.7
Decreases -1.1 -0.9
Transfers between items 0.7 1.0
Acquisition cost at 31 December 40.2 39.1