store sites and properties
The store site network is a strategic competitive factor for K Group. It enables the development of our business operations as well as the improvement of sales and customer satisfaction, while also supporting online sales.
Our store sites are divided into four categories: strategic properties, basic properties, realisation properties, and development properties
Strategic properties:
- Properties Kesko wants to own
- Significant properties for business operations, for example, properties that are or can be developed into large retail units
- In 2018, there were 66% (in 2017: 69%) strategic properties, Q2 2019 61%
Basic properties:
- Properties Kesko owns but could sell and then lease back
- In 2018, there were 25% (24%) basic properties, Q2 2019 28%
Development properties:
- Plots and properties that require development to fit their planned purpose
- In 2018, there were 8% (6%) development properties, Q2 2019 11%
Realisation properties:
- Properties Kesko no longer has use for
- In 2018, there were 1% (1%) realisation properties, Q2 2019 0%
Our capital expenditure in store sites totalled €112 million in 2018 (in 2017: €240 million), January-June 2019 €155 million (January-June 2018 €61 million).
| Owned store sites and properties | |||||
| Book value by region, € million | Q2 2019 | % | 2018 | % | 2017 |
| Finland | 950 | 89.6 | 816 | 90.8 | 817 |
| Other Nordic countries | 54 | 5.1 | 37 | 4.1 | 40 |
| Baltic countries and Belarus | 56 | 5.3 | 46 | 5.1 | 38 |
| Total | 1,060 | 100.0 | 899 | 100.0 | 895 |
| Area by region, 1,000 m2 | Q2 2019 | % | 2018 | % | 2017 |
| Finland | 745 | 84.4 | 616 | 83.6 | 618 |
| Other Nordic countries | 75 | 8.5 | 59 | 8.0 | 59 |
| Baltic countries and Belarus | 63 | 7.1 | 62 | 8.4 | 78 |
| Total | 883 | 100.0 | 737 | 100.0 | 755 |
| Book value by division, € million | Q2 2019 | % | 2018 | % | 2017 |
| Grocery trade | 762 | 71.9 | 658 | 73.2 | 649 |
| Building and technical trade | 230 | 21.7 | 169 | 18.8 | 167 |
| Car trade | 50 | 4.7 | 50 | 5.6 | 53 |
| Others | 18 | 1.7 | 22 | 2.4 | 26 |
| Total | 1,060 | 100.0 | 899 | 100.0 | 895 |
| Area by division, 1,000 m2 | Q2 2019 | % | 2018 | % | 2017 |
| Grocery trade | 524 | 59.3 | 433 | 58.8 | 420 |
| Building and technical trade | 289 | 32.7 | 235 | 31.9 | 250 |
| Car trade | 47 | 5.3 | 47 | 6.4 | 47 |
| Others | 23 | 2.6 | 22 | 3.0 | 38 |
| Total | 883 | 100.0 | 737 | 100.0 | 755 |
| Leased store sites and properties | |||||
| Area by region, 1,000 m2 | Q2 2019 | % | 2018 | % | 2017 |
| Finland | 2,291 | 67.4 | 2,397 | 72.1 | 2,407 |
| Other Nordic countries | 410 | 12.1 | 278 | 8.4 | 199 |
| Baltic countries and Belarus | 646 | 19.0 | 598 | 18.0 | 615 |
| Poland | 53 | 1.6 | 50 | 1.5 | 58 |
| Total | 3,400 | 100.0 | 3,323 | 100.0 | 3,279 |
| Area by division, 1,000 m2 | Q2 2019 | % | 2018 | % | 2017 |
| Grocery trade | 1,502 | 44.2 | 1,581 | 47.6 | 1,594 |
| Building and technical trade | 1,255 | 36.9 | 1,169 | 35.2 | 1,111 |
| Car trade | 43 | 1.3 | 26 | 0.8 | 26 |
| Others | 600 | 17.6 | 547 | 16.5 | 548 |
| Total | 3,400 | 100.00 | 3,323 | 100.0 | 3,279 |
| Lease liabilities by region, € million | 2018 | % | 2017 | ||
| Finland | 2,380 | 80.5 | 2,455 | ||
| Other Nordic countries | 168 | 5.7 | 73 | ||
| Baltic countries and Belarus | 390 | 13.2 | 350 | ||
| Poland | 19 | 0.6 | 15 | ||
| Total | 2,957 | 100.0 | 2,892 | ||
| Lease liabilities, € million | 2018 | 2017 | |||
| No later than one year | 400 | 382 | |||
| Later than one year and no later than five years | 1,354 | 1,273 | |||
| Later than five years | 1,203 | 1,237 | |||
| Total | 2,957 | 2,892 | |||
