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2009-02-05 07:45:00 CET 2009-02-05 07:45:58 CET REGULATED INFORMATION Kesko Oyj - Company AnnouncementKesko specifies its financial objectivesKESKO 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 The objective of return on investment has been replaced by the objective of return on capital employed, which has been reported for the divisions for several years already.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 DISTRIBUTION Helsinki Stock Exchange Main news media |
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