Kesko's Annual Report 2009

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40 Kesko’s year 2009 Real estate operations A store site network is a strategic competitive factor for Kesko. It provides opportunities for developing business operations and increasing sales and customer satisfaction. The Kesko’s division parent companies are responsible for their own store sites throughout their life cycles. The companies plan their own retail networks and, on the basis of their network and business plans, make the investments in accordance with the Group’s real estate strategy. The division parent companies develop their own store sites, manage their construction, and are responsible for maintaining, managing, leasing and selling them. Real estate property management For the management of Kesko’s real estate assets and liabilities, the retail stores and other real estate properties are classified as follows: • Strategic properties are large retail stores which involve important business interests related to the continuity of management, the flexibility of change and the financial value of the premises. In order to protect such interests, Kesko usually prefers to own these properties. • Standard properties are premises owned by the Kesko Group. They can be sold and leased back for use in the Group’s business operations. • Realisation properties are those for which Kesko has no further use. • Development properties are those needing further development for their intended use. Investments Kesko’s real estate investments aim to enable the creation of trading services valued by customers by anticipating changes in customer behaviour and the operating environment and by maintaining the technical condition of properties. Kesko invests only in properties needed in its own business operations. As a result of Kesko’s internationalisation, investments outside Finland have become increasingly important. Life-cycle affordable and ecoefficient real estate operations Kesko’s construction activity is based on life-cycle affordability and eco-efficiency. This means optimising the costs and environmental burden across the entire life cycle of a store site. The aim is to build business premises with the lowest life-cycle costs in the trading sector. Further development of the eco-efficiency of existing properties has focused on monitoring energy consumption and improving energy use. The aim is to reduce both consumption and costs. Property maintenance Property maintenance relies on systematisation and proactivity. Repair work is scheduled to coincide with the rebuilding necessitated by business operations. The management and maintenance of properties owned or leased by Kesko has been outsourced to ISS Palvelut Oy, Ovenia Oy and YIT Kiinteistötekniikka Oy, which carry out the work in accordance with Kesko’s requirements. Kestra Kiinteistöpalvelut Oy, owned by Kesko, is responsible for purchasing electricity for the K-Group. Kesko’s energy team monitors energy consumption of properties The emissions generated in the production of electrical and heat energy for properties account for a significant share of the K-Group’s environmental impact. Therefore the K-Group’s environmental policy obliges Kesko’s real estate operations, in cooperation with its business partners, to develop solutions related to the building, repairs, concept changes, maintenance and use of real estate properties that reduce the consumption of materials and energy during the life cycle of these properties. The electricity, heat and water consumption of Kesko’s properties has been monitored closely since 1995. The managers responsible for property care and maintenance report about deviations in consumption to the energy team of the real estate operations. Reasons for deviations are investigated and corrective actions are taken immediately. Close energy monitoring helps keep the technical systems of properties in order and maintain the value of properties.
Real estate operations indicators for 2009 Kesko’s year 2009 Owned properties Capital*, € million 2009 2008 Finland 656 776 Other Nordic countries 70 57 Baltic countries 32 41 Russia 112 77 Total 870 951 Area, m 2 2009 2008 Finland 629,000 756,000 Other Nordic countries 80,000 62,000 Baltic countries 103,000 103,000 Russia 46,000 34,000 Total 858,000 955,000 Leased properties Lease liabilities, € million 2009 2008 Finland 2,036 1,767 Other Nordic countries 118 110 Baltic countries 171 183 Russia 32 45 Total 2,357 2,105 Area, m 2 2009 2008 Finland 2,358,000 2,191,000 Other Nordic countries 202,000 205,000 Baltic countries 429,000 431,000 Russia 25,000 25,000 Total 3,014,000 2,852,000 *Carrying amounts Breakdown of owned properties 2009 Strategic properties 77% Standard properties 17% Realisation properties 0% Development properties 6% Breakdown of owned properties 2008 Strategic properties 79% Standard properties 15% Realisation properties 0% Development properties 6% 41
Page 1: Kesko’s year
Page 4 and 5: 2 Kesko’s year 2009 Kesko in brie
Page 6 and 7: 4 Kesko’s year 2009 Review by the
Page 8 and 9: 6 Kesko’s year 2009 Year 2009 in
Page 11 and 12: Kesko is a highly valued listed tra
Page 13 and 14: uct and service benefits to custome
Page 15: the Pirkka magazine continued to in
Page 18 and 19: 16 Kesko’s year 2009 K-food store
Page 20 and 21: 18 Kesko’s year 2009 High-quality
Page 23 and 24: Kesko’s home and speciality goods
Page 25 and 26: Year 2009 In 2009, the net sales of
Page 27: Market shares and competitors Hyper
Page 30 and 31: 28 Kesko’s year 2009 Products and
Page 32 and 33: 30 Kesko’s year 2009 Through its
Page 34 and 35: 32 Kesko’s year 2009 Responsibili
Page 37 and 38: VV-Auto and Konekesko make up the c
Page 39 and 40: market for agricultural machinery i
Page 41: Market shares VV-Auto Finland: Volk
Page 46 and 47: 44 Kesko’s year 2009 Kesko is a g
Page 48 and 49: 46 Kesko’s year 2009 The widest v
Page 51 and 52: Principles and indicators of respon
Page 53 and 54: effective stakeholder interaction w
Page 55 and 56: compare the responsibility practice
Page 57 and 58: member and expiring at the close of
Page 59 and 60: Decision-making, activities and mee
Page 61 and 62: A written managing director’s ser
Page 63 and 64: made by the Remuneration Committee
Page 65 and 66: programmes, for their competitive t
Page 67 and 68: the Audit Committee, and reports on
Page 69 and 70: Mikko Kosonen b. 1957, D.Sc. (Econ.
Page 71 and 72: Notice period and severance pay: 6
Page 73 and 74: Report by the Board of Directors Ja
Page 75 and 76: In January-December, two new K-raut
Page 77 and 78: The retail sales of the K-rauta and
Page 79 and 80: Significant risks and uncertainties
Page 81 and 82: Group performance indicators Kesko
Page 83 and 84: Net sales by segment, continuing op
Page 85 and 86: Calculation of performance indicato
Page 87 and 88: Consolidated Financial Statements C
Page 89 and 90: Consolidated statement of cash flow
Page 91 and 92: NOTE 1 Accounting policies for the
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Foreign currency items The consolid
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Other intangible assets The cost of
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exceed 10 percent of the higher rat
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cating resources, has been identifi
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Segment information 2008 Income sta
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Net assets of discontinued operatio
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Exchange differences recognised in
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Goodwill and intangible rights by s
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Property, plant and equipment inclu
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NOTE 18 Finance lease receivables K
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NOTE 20 Kesko financial statements
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A total amount of €12.6 million (
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Kesko financial statements 2009 Rev
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NOTE 29 Finance lease liabilities K
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Group as the lessor Minimum lease p
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Movements in quantities and exercis
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NOTE 41 Financial risk management W
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Liquidity risk and sensitivity anal
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Kesko financial statements 2009 Bre
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Fair values of derivative financial
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with regard to business operations,
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In addition, the other operating ex
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Owned by other Group companies Domi
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Parent's balance sheet (FAS) € 31
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Kesko financial statements 2009 Not
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€ million 2009 2008 Accumulated d
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Increase in share capital During th
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Signatures Signatures Helsinki, 4 F
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the record date, and whose custodia
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Share performance indicators Tradin
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Prices and trading of Kesko A and B
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Share capital and shares Kesko fina
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Information about Kesko for investo
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Kenkäkesko Ltd Kutojantie 4, FI-02
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Operations control system (ERP Ente
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www.kesko.fi Business ID 0109862-8
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Kesko's Annual Report 2009

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