Kesko's Annual Report 2009

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2 Kesko’s year <strong>2009</strong> Kesko in brief Kesko is the leading provider of trading sector services and a highly valued listed company. Through its stores, Kesko offers quality to the daily lives of consumers. Kesko has about 2,000 stores engaged in chain operations in the Nordic and Baltic countries, Russia, and Belarus. Our core competence areas • Development and management of store concepts and brands • Development, ownership and management of the store site network • International retail expertise • Combining retailer entrepreneurship and chain operations efficiently • Leveraging centralised resources and economies of scale Divions Kesko Food | Page 14 Kesko Food is a strong operator in the Finnish grocery trade. K-retailers, whose operations are based on the K-retailer business model, are responsible for customer satisfaction at the more than 1,000 K-food stores. Kesko Food manages K-citymarket’s food trade and the K-supermarket, K-market and K-extra chains. Kesko Food’s main functions include the centralised purchasing of products, selection management, logistics, and the development of chain concepts and the store site network. Chain operations ensure the efficiency and competitiveness of business. Kesko Food’s subsidiary Kespro Ltd is the leading wholesaler in the Finnish HoReCa business. It offers the best sourcing solutions in the sector for its customers. Home and speciality goods trade | Page 20 Kesko’s home and speciality goods trade operates in the clothing, home, leisure, home technology, entertainment and furniture product lines. The home and speciality goods trade comprises Anttila Oy, K-citymarket Oy, Intersport Finland Ltd, Indoor Group Ltd, Musta Pörssi Ltd and Kenkäkesko Ltd. The total number of home and specility goods stores is 450. Building and home improvement trade | Page 26 Rautakesko operates in the building and home improvement supplies trade in Finland, Sweden, Norway, the Baltic countries, Russia, and Belarus and the agricultural supplies trade in Finland. Rautakesko manages and develops its K-rauta, Rautia, K-maatalous, Byggmakker, Senukai and OMA retail chains and B2B sales in its operating area. Rautakesko is responsible for the chains’ concepts, marketing, sourcing and logistics services, store network, and retailer resources. There are 330 building and home improvement stores in eight countries and 90 agricultural stores in Finland. Car and machinery trade | Page 34 VV-Auto and Konekesko make up the car and machinery trade division. VV-Auto imports and markets Volkswagen, Audi and Seat passenger cars, and Volkswagen commercial vehicles in Finland, and it also imports and markets Seat passenger cars in Estonia and Latvia. VV-Auto is also engaged in car retailing and provides after-sales services at its own outlets in the Greater Helsinki area and Turku. Konekesko is a service company specialising in the import and sales of construction, environmental and agricultural machinery, trucks and buses, and recreational machinery. Konekesko operates in Finland, the Baltic countries and Russia. Konekesko arranges the manufacture of and sells Yamarin boats in Finland and exports them to several European countries and Russia.
Vision Kesko’s year <strong>2009</strong> Kesko is the leading provider of trading sector services and a highly valued listed company. Values The values guide our operations: We exceed our customers’ expectations We recognise our customers’ needs and expectations. We strive to offer them positive experiences through the continual reform of our operations and emphasis on entrepreneurial activity. We are the best operator in the trading sector We offer our customers the best products and services in the market to ensure our competitiveness and success. We create a good working community We operate in an open, interactive working community where people are respected and every individual can contribute to the full and use his or her initiative. We bear our corporate responsibility Our operations are responsible and we follow ethically acceptable principles in all actions within our working community and in relations with our partners. 3
Page 1: Kesko’s year
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 and 42: Market shares VV-Auto Finland: Volk
Page 43: Real estate operations indicators f
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
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compare the responsibility practice
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member and expiring at the close of
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Decision-making, activities and mee
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A written managing director’s ser
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made by the Remuneration Committee
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programmes, for their competitive t
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the Audit Committee, and reports on
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Mikko Kosonen b. 1957, D.Sc. (Econ.
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Notice period and severance pay: 6
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Report by the Board of Directors Ja
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In January-December, two new K-raut
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The retail sales of the K-rauta and
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Significant risks and uncertainties
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Group performance indicators Kesko
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Net sales by segment, continuing op
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Calculation of performance indicato
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Consolidated Financial Statements C
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Consolidated statement of cash flow
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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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