Kesko Oyj - Company Announcement

Kesko specifies its financial objectives

KESKO CORPORATION STOCK EXCHANGE RELEASE 05.02.2009 AT 08.45 1(1)

Kesko Corporation's Board of Directors has approved the Group's
revised financial objectives. 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. The maintenance of good
solvency and liquidity is emphasised in the present economic
situation.

The objective of return on investment has been replaced by the
objective of return on capital employed, which has been reported for
the divisions for several years already. The new objective of return
on equity has been set at 12% (previously 14%) and the objective for
return on capital employed has been set at 14%. The objective range
of equity ratio has been broadened to 40-50% (previously 40-45%).

The Board of Directors also decided to revise Kesko's dividend
policy, published on 6 April 2005. In addition to the financial
position and the operating strategy, the new policy takes account of
the nature of non-recurring items.

Kesko Corporation's financial objectives:


Net sales growth                 Growth rate exceeding that of the
                                 market.
Return on equity                 12%
Return on capital employed       14%
Interest-bearing net debt/EBITDA < 3
Equity ratio                     40 - 50%
Economic value added             Growing positive EVA as internal
                                 indicator.


Kesko Corporation's revised 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.

Further information is available from Arja Talma, Senior Vice
President, CFO, tel. +358 1053 22113, and Jukka Erlund, Vice
President, Corporate Controller, tel. +358 1053 22338.


Kesko Corporation



Paavo Moilanen
Senior Vice President, Corporate Communications and Responsibility


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