Kesko's Annual Report 2009
Kesko's Annual Report 2009
Kesko's Annual Report 2009
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€ million <strong>2009</strong> 2008<br />
Accumulated depreciation at 1 January 32.6 30.6<br />
Accumulated depreciation on decreases<br />
and transfers -0.4 -0.4<br />
Depreciation for the financial year 1.8 2.4<br />
Accumulated depreciation at 31 December 34.0 32.6<br />
Book value at 31 December 6.2 6.5<br />
Advance payments<br />
Acquisition cost at 1 January 1.7 2.5<br />
Increases 0.8 0.6<br />
Decreases -0.6 -0.4<br />
Transfers between items -0.4 -1.0<br />
Acquisition cost at 31 December 1.5 1.7<br />
Book value at 31 December 1.5 1.7<br />
12. Tangible assets<br />
Land and waters<br />
Acquisition cost at 1 January 111.4 112.2<br />
Increases 1.8 8.3<br />
Decreases -16.0 -9.1<br />
Acquisition cost at 31 December 97.2 111.4<br />
Book value at 31 December 97.2 111.4<br />
Buildings<br />
Acquisition cost at 1 January 514.9 513.2<br />
Increases 9.6 24.2<br />
Decreases -99.6 -26.9<br />
Transfers between items 3.1 4.4<br />
Acquisition cost at 31 December 428.0 514.9<br />
Accumulated depreciation at 1 January<br />
Accumulated depreciation on decreases<br />
205.5 181.8<br />
and transfers -35.4 -8.6<br />
Value adjustment 9.1 15.0<br />
Depreciation for the financial year 15.6 17.3<br />
Accumulated depreciation at 31 December 194.8 205.5<br />
Book value at 31 December 233.2 309.4<br />
Machinery and equipment<br />
Acquisition cost at 1 January 24.7 25.5<br />
Increases 0.8 1.0<br />
Decreases -3.6 -1.9<br />
Transfers between items 0.2 0.1<br />
Acquisition cost at 31 December 22.1 24.7<br />
Accumulated depreciation at 1 January<br />
Accumulated depreciation on decreases<br />
19.7 19.6<br />
and transfers -2.8 -1.3<br />
Depreciation for the financial year 1.3 1.5<br />
Accumulated depreciation at 31 December 18.2 19.7<br />
Book value at 31 December 3.9 5.0<br />
Other tangible assets<br />
Acquisition cost at 1 January 15.2 13.7<br />
Increases 1.1 2.8<br />
Decreases -2.6 -1.4<br />
Transfers between items 0.0 0.1<br />
Acquisition cost at 31 December 13.7 15.2<br />
Kesko financial statements <strong>2009</strong><br />
141<br />
€ million <strong>2009</strong> 2008<br />
Accumulated depreciation at 1 January 7.0 6.5<br />
Accumulated depreciation on decreases<br />
and transfers -1.3 -0.7<br />
Depreciation for the financial year 1.4 1.2<br />
Accumulated depreciation at 31 December 7.1 7.0<br />
Book value at 31 December 6.6 8.2<br />
Advance payments and construction in<br />
progress<br />
Acquisition cost at 1 January 7.1 5.4<br />
Increases 9.2 6.3<br />
Transfers between items -11.7 -4.6<br />
Acquisition cost at 31 December 4.6 7.1<br />
Book value at 31 December 4.6 7.1<br />
Revaluation of non-current assets<br />
At the end of the financial year, Kesko Corporation's balance<br />
sheet did not contain revaluations.<br />
13. Investments<br />
Holdings in Group companies<br />
Acquisition cost at 1 January 273.6 404.0<br />
Increases 28.5 3.2<br />
Decreases -38.0 -133.6<br />
Acquisition cost at 31 December 264.1 273.6<br />
Accumulated depreciation at 1 January 0.0 1.7<br />
Value adjustments 0.0 -1.7<br />
Accumulated depreciation at 31 December 0.0 0.0<br />
Book value at 31 December 264.1 273.6<br />
Participating interests<br />
Acquisition cost at 1 January 18.7 19.8<br />
Increases 0.0 0.1<br />
Decreases -0.9 -1.2<br />
Acquisition cost at 31 December 17.8 18.7<br />
Book value at 31 December 17.8 18.7<br />
Other shares and similar rights of<br />
ownership<br />
Acquisition cost at 1 January 7.3 7.3<br />
Acquisition cost at 31 December 7.3 7.3<br />
Book value at 31 December 7.3 7.3<br />
Kesko Corporation's ownership interests in other companies as at<br />
31 December <strong>2009</strong> are presented in the notes to the consolidated<br />
financial statements.<br />
During the financial year, Kesko Corporation sold some of its<br />
real estate companies.<br />
During the 2008 financial year, Kesko Corporation sold its<br />
wholly-owned subsidiaries Kauko-Telko Ltd, Tähti Optikko Group<br />
Oy and K-Rahoitus Oy. In addition, the company founded a new<br />
subsidiary, K-talouspalvelukeskus Oy. Among subsidiaries directly<br />
owned by Kesko Corporation, other changes took place in real<br />
estate companies only.