Financial targets and their realisation
Kesko measures its medium-term performance and balance sheet structure with several financial indicators. The objective is a growth rate exceeding that of the market in all of its operating countries. Our objective is to maintain good solvency in all market conditions.
Kesko Corporation's financial objectives and their realisation:
Objectives announced
on 5 Feb. 2009
|
Target level |
Realised in 2011 |
Realised in 2010 |
| Net sales growth |
Growth faster than market |
Realised*:
Food trade, building
and home improvement
trade in Finland, furniture
trade, car and machinery
trade |
Realised*:
Food trade,
K-citymarket's home and
speciality goods trade,
car and
machinery trade |
| Return on equity |
12% |
8.9%, excl.
non-recurring
items 8.8% |
10.1%, excl.
non-recurring
items 8.7% |
Return on
capital employed |
14% |
13.2%, excl.
non-recurring
items 13.1% |
15.9%, excl.
non-recurring
items 13.9% |
Interest-bearing
net debt/EBITDA |
< 3 |
0.1 |
-0.9 |
| Equity ratio |
40–50% |
53.9% |
53% |
Economic value
added
|
Growing positive
EVA as
internal indicator |
Realised in food trade and
car and machinery trade |
Realised in all divisions,
except for building and
home improvement trade |
* Kesko's own estimate
Kesko Corporation's dividend policy:
Kesko Corporation distributes at least 50% of its earnings per share excluding non-recurring items as dividends, taking however the company's financial position and operating strategy into account.