KESKO CORPORATION STOCK EXCHANGE RELEASE ... - Euroland

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Kesko Food -4.2 -1.2
Rautakesko -1.8 0.2
Keswell -11.9 -10.9
Kesko Agriculture and 1.7 1.9
Machinery
VV-Auto 5.5 7.5
Kaukomarkkinat 1.5 0.4
Common operations 8.8 14.0
Group’s operating profit/loss -0.4 11.9
Net financial income 1.0 2.8
Associated companies 0.1 0.1
Profit before extraordinary
items
0.7 14.8
The practice used to disclose the operating profit of the
various divisions has been changed. The rents charged by the
real estate function for the real estate used by the Group have
been disclosed as rent expenses of other divisions. The
operating income from common operations includes the operating
profit of real estate. Common operations also include the net
expenses or income of other units’ common operations, as well as
Group items such as company management expenses and amortisation
of goodwill on consolidation that has not been allocated to the
divisions.
*) The figures for 2000 have been converted to comparable ones
to correspond to the changed practice.
Investments
The Group´s investments totalled EUR 47.9 million (EUR 101.2 million), which is
3.3 percent (7.1%) of net sales. Investments in the real estate, information
technology and fixtures of Kesko’s wholesale operations and subsidiaries
amounted to EUR 12.4 million, while investments in the buildings, fixtures and
information technology of the retail stores totalled EUR 35.5 million. More
detailed information on investment projects is given in the reviews of the
divisions.
Finance
Cash flow from operating activities was EUR -51.1 million and
from investing activities EUR -31.8 million. At the end of the
review period, the equity ratio was 55.4 percent (57.7%). The
interest-bearing net debt was EUR 264.5 million (EUR 79.0
million). The liquid assets totalled EUR 30.5 million (EUR 158.3
million).
Group administration and structure