This document provides a summary of Kesko Corporation for September 2016. It includes the following key points:
- Kesko operates in grocery trade, building and technical trade, and car trade across nine countries in Europe and Northern Asia.
- In 2015, Kesko had net sales of €8.993 billion and operating profit of €253 million.
- Kesko's acquisitions of Suomen Lähikauppa and Onninen have expanded its grocery and building/technical trade operations in Finland and Europe.
- Kesko aims to grow its grocery trade in Finland, expand its building/technical trade in Europe, and grow its car trade in Finland. Integration of acquisitions and realizing
1) Kesko is a Finnish retail group that operates in eight countries with net sales of €10.8 billion and over 40,000 employees.
2) Kesko's main divisions are grocery trade, home improvement and speciality goods trade, and car trade, which accounted for 54%, 37%, and 9% of net sales respectively in the first quarter of 2016.
3) Kesko is investing in strategic growth areas like increasing its market share in the Finnish grocery trade, expanding its building and home improvement trade in Europe, and growing its B2B sales. The acquisition of Onninen is expected to strengthen Kesko's position in technical trade.
Kesko provided an overview of its 2014 financial results and strategic plans. Key points include:
- 2014 net sales of €9.1 billion and operating profit of €233 million.
- Strategic focus on grocery trade in Finland and Russia, building/home improvement trade in Europe, and car trade in Finland and Baltics.
- Objectives are to turn around grocery market share in Finland, increase building/home improvement trade in Europe, and strengthen leadership in Finnish car trade.
- Investing €1 billion over 2015-2017 in strategic growth areas, excluding potential acquisitions.
Kesko provided a roadshow presentation for Q3 2015. Key figures from 2014 include net sales of €9.07 billion and operating profit of €233 million. Kesko's main lines of business are grocery trade, home improvement and speciality goods trade, and car trade. Strategic objectives include turning around market share in Finnish grocery, increasing home improvement trade in Europe, and strengthening leadership in Finnish car trade. Kesko aims to be the most sustainable retailer through initiatives like being included in various sustainability indexes.
The document provides an overview of Kesko Corporation's Q4/2015 results and future outlook. Some key points:
- Net sales for Q4/2015 were €8.78 billion with operating profit of €247 million.
- Kesko operates in 8 countries with over 45,000 employees and 1.3 million customer visits daily.
- Grocery trade makes up 44% of net sales, with home improvement and speciality goods at 36%.
- For the next 12 months, net sales are expected to be lower than the past 12 months, while operating profit is expected to equal the past 12 months.
- Strategic focus areas include turning around grocery market share in Finland, expanding home improvement
Kesko is a Finnish trading company operating in eight countries. In 2014, Kesko's net sales were €8.78 billion and operating profit was €247 million. Kesko's main business lines are grocery trade, home improvement and speciality goods trade, and car trade. Kesko aims to grow profitably in these strategic areas both organically and through acquisitions. Kesko also seeks to offer customers the best digital and omni-channel shopping experiences. Looking forward, Kesko expects its markets and sales to vary between countries in the next 12 months.
Kesko is a Finnish retail group that operates in eight countries with net sales of €8.7 billion in 2015. Key points from the document include:
- Kesko has operations in grocery trade, home improvement and speciality goods trade, and car trade across Finland, Scandinavia, Baltics, Russia and Belarus.
- In 2015, grocery trade accounted for 54% of net sales, home improvement 37%, and car trade 9%.
- Kesko is making acquisitions to strengthen its position in grocery trade in Finland and building/home improvement trade in Europe.
- Financial targets include 14% return on capital employed and dividend payout of at least 50% of earnings per share.
1) Kesko is a Finnish retail group that operates in eight countries with net sales of €8.7 billion and 22,000 employees.
2) In 2015, grocery trade accounted for 54% of sales, home improvement 37%, and car trade 9%. Kesko plans to increase its market share in grocery trade through acquisitions in Finland and focus on neighborhood stores.
3) Kesko also aims to grow its home improvement business in Europe through strategic acquisitions like Onninen, increasing its B2B sales from 40% to 60% of the division total.
Kesko Corporation is a Finnish retail company that operates in grocery, home improvement, specialty goods, and car trades. In 2014, Kesko had net sales of €9.1 billion. It operates over 2,000 stores across eight countries in Europe and employs over 24,000 people. Kesko has expanded its home improvement and specialty goods business into Russia, and plans to continue expanding its grocery stores in Russia. Kesko also aims to strengthen its e-commerce and multi-channel services. Financially, Kesko has a strong balance sheet and expects its 2015 operating profit to exceed 2014 levels, despite anticipating lower net sales for the year.
1) Kesko is a Finnish retail group that operates in eight countries with net sales of €10.8 billion and over 40,000 employees.
2) Kesko's main divisions are grocery trade, home improvement and speciality goods trade, and car trade, which accounted for 54%, 37%, and 9% of net sales respectively in the first quarter of 2016.
3) Kesko is investing in strategic growth areas like increasing its market share in the Finnish grocery trade, expanding its building and home improvement trade in Europe, and growing its B2B sales. The acquisition of Onninen is expected to strengthen Kesko's position in technical trade.
Kesko provided an overview of its 2014 financial results and strategic plans. Key points include:
- 2014 net sales of €9.1 billion and operating profit of €233 million.
- Strategic focus on grocery trade in Finland and Russia, building/home improvement trade in Europe, and car trade in Finland and Baltics.
- Objectives are to turn around grocery market share in Finland, increase building/home improvement trade in Europe, and strengthen leadership in Finnish car trade.
- Investing €1 billion over 2015-2017 in strategic growth areas, excluding potential acquisitions.
Kesko provided a roadshow presentation for Q3 2015. Key figures from 2014 include net sales of €9.07 billion and operating profit of €233 million. Kesko's main lines of business are grocery trade, home improvement and speciality goods trade, and car trade. Strategic objectives include turning around market share in Finnish grocery, increasing home improvement trade in Europe, and strengthening leadership in Finnish car trade. Kesko aims to be the most sustainable retailer through initiatives like being included in various sustainability indexes.
The document provides an overview of Kesko Corporation's Q4/2015 results and future outlook. Some key points:
- Net sales for Q4/2015 were €8.78 billion with operating profit of €247 million.
- Kesko operates in 8 countries with over 45,000 employees and 1.3 million customer visits daily.
- Grocery trade makes up 44% of net sales, with home improvement and speciality goods at 36%.
- For the next 12 months, net sales are expected to be lower than the past 12 months, while operating profit is expected to equal the past 12 months.
- Strategic focus areas include turning around grocery market share in Finland, expanding home improvement
Kesko is a Finnish trading company operating in eight countries. In 2014, Kesko's net sales were €8.78 billion and operating profit was €247 million. Kesko's main business lines are grocery trade, home improvement and speciality goods trade, and car trade. Kesko aims to grow profitably in these strategic areas both organically and through acquisitions. Kesko also seeks to offer customers the best digital and omni-channel shopping experiences. Looking forward, Kesko expects its markets and sales to vary between countries in the next 12 months.
Kesko is a Finnish retail group that operates in eight countries with net sales of €8.7 billion in 2015. Key points from the document include:
- Kesko has operations in grocery trade, home improvement and speciality goods trade, and car trade across Finland, Scandinavia, Baltics, Russia and Belarus.
- In 2015, grocery trade accounted for 54% of net sales, home improvement 37%, and car trade 9%.
- Kesko is making acquisitions to strengthen its position in grocery trade in Finland and building/home improvement trade in Europe.
- Financial targets include 14% return on capital employed and dividend payout of at least 50% of earnings per share.
1) Kesko is a Finnish retail group that operates in eight countries with net sales of €8.7 billion and 22,000 employees.
2) In 2015, grocery trade accounted for 54% of sales, home improvement 37%, and car trade 9%. Kesko plans to increase its market share in grocery trade through acquisitions in Finland and focus on neighborhood stores.
3) Kesko also aims to grow its home improvement business in Europe through strategic acquisitions like Onninen, increasing its B2B sales from 40% to 60% of the division total.
Kesko Corporation is a Finnish retail company that operates in grocery, home improvement, specialty goods, and car trades. In 2014, Kesko had net sales of €9.1 billion. It operates over 2,000 stores across eight countries in Europe and employs over 24,000 people. Kesko has expanded its home improvement and specialty goods business into Russia, and plans to continue expanding its grocery stores in Russia. Kesko also aims to strengthen its e-commerce and multi-channel services. Financially, Kesko has a strong balance sheet and expects its 2015 operating profit to exceed 2014 levels, despite anticipating lower net sales for the year.
This document provides an overview of Kesko Corporation, a Finnish trading company. It summarizes Kesko's key financial figures including net sales of €9.2 billion and operating profit of €237 million. It also outlines Kesko's business operations which include over 2,000 stores across eight countries engaged in food trade, home goods, building/DIY, and car/machinery trade. The CFO discusses Kesko's strategic priorities and financial position, noting plans to strengthen sales growth and profitability while maintaining a strong balance sheet and dividend policy.
Kesko is a Finnish retail group with over 2,000 stores across eight countries. In 2013, Kesko had net sales of €9.2 billion and operating profit of €237 million. Kesko operates stores in food retail, home goods, building materials, and car sales. Kesko has been expanding its operations in Russia, with plans to grow its store networks in food retail and DIY. Kesko aims to strengthen sales growth, improve profitability, expand e-commerce, and utilize opportunities in the Russian market. As an investment, Kesko has a market capitalization of €2.8 billion and over 40,000 shareholders.
Sponda reported its financial results for Q2 2015. Key highlights included:
- Cash flow and profits improved both quarterly and annually despite property disposals.
- Occupancy rates were 86.3%, impacted by recent disposals.
- One small development project in Helsinki was completed.
- Two properties in Russia were successfully sold at the end of June.
- Sponda expects development gains of 15% from ongoing greenfield projects.
This document provides an overview of Kesko's performance and strategic plans presented by Jukka Erlund at an analyst meeting on December 18, 2015. Key points include: Kesko's sales and profitability figures have remained stable over the past year. The grocery trade division aims to gain market share in Finland by acquiring Suomen Lähikauppa. The home improvement trade is focusing on growth in Europe through both organic expansion and acquisitions. The car trade continues to be impacted by the Volkswagen emissions scandal but maintains a strong order backlog. Overall, Kesko is well positioned financially and pursuing growth across its strategic business areas.
For the last time, Ahlstrom and Munksjö reported their interim results (Q1/2017) separately. Both companies increased their net sales and profitability.
Stora Enso reported financial results for the first quarter of 2016. Sales were slightly down at 2.445 billion euros due to structurally declining paper business, but increased by 2.4% excluding paper and divested mills. Operational EBIT increased 12.7% to 248 million euros and the margin reached a record high of 10.1%. Cash flow from operations improved to 289 million euros. The company continued strengthening its balance sheet through high investments while reducing net debt. Stora Enso also provided guidance for the second quarter of 2016, estimating sales to be slightly higher than Q1 levels and operational EBIT to be in line with or somewhat lower due to scheduled annual maintenance shutdowns.
The document discusses Kesko Group's business performance and retail trends. It summarizes Kesko's Q3 2013-Q2 2014 key figures and sales performance by division. Kesko's food trade saw sales decline 1.4% in January-August. The home and speciality goods trade declined 9.3% due to changes in consumer behavior. Building and home improvement trade sales rose 0.2% excluding currency impacts. Car and machinery trade sales were flat. Looking ahead, Kesko plans to integrate its home/speciality goods and building/home improvement divisions to create a more competitive multi-channel offering, in response to the growing importance of e-commerce.
Stora Enso reported financial results for Q4 and full year 2015. Key highlights included:
- Operational EBIT improved 15.8% in Q4 and 13% for the full year due to higher pulp volumes from Montes del Plata and favorable foreign exchange rates.
- Cash flow remained strong at EUR 412 million before investments and EUR 75 million after investments despite peak capital expenditures in 2015.
- Net debt to operational EBITDA was reduced to 2.4 from 2.6 the prior year.
- Annual EPS increased substantially to EUR 1.02 from EUR 0.13 in 2014, supported by a forest valuation gain.
- The company proposed increasing
Sponda reported its Q1 2015 financial results. Occupancy rates were stable at 86.8% and cash flow from operations was strong despite property divestments. One development project was completed in Ruoholahti and a large new project, the Ratina shopping centre, started in Tampere. Property values in Finland were stable but declined in Russia due to temporary rent reductions. Sponda will continue its strategy of non-core property disposals and investing in prime properties in Helsinki and Tampere.
- YIT reported fairly good results for Q2/2014 despite challenging market conditions in Finland. Revenue and order backlog grew in the quarter.
- Housing segment revenue increased due to higher apartment completion rates and land sales in Finland. Revenue also grew strongly in the Baltic countries and CEE.
- Operating profit decreased 9% year-over-year for the group due to lower volumes and profitability in the Business Premises and Infrastructure segment. Profitability in Housing was impacted by capital release actions and a change in geographical mix.
- Sales declined 3% year-over-year due to structurally declining paper business, but grew 3% excluding paper and divested businesses. Operational EBIT increased 21% due to foreign exchange gains and lower costs.
- Consumer board sales were flat while operational EBIT increased 27% due to foreign exchange gains and lower costs. Biomaterials sales increased 35% and operational EBIT increased significantly due to the Montes del Plata ramp-up.
- Wood products sales declined 12% and operational EBIT declined 25% due to lower production and deliveries.
Tele2 reported financial results for the fourth quarter of 2016. Mobile end-user service revenue increased 14% to SEK 3.71 billion driven by growth in Sweden, the Baltics, and the Netherlands. EBITDA increased 9% to SEK 1.46 billion despite investments related to the acquisition of TDC Sweden and the mobile launch in the Netherlands. Looking ahead, Tele2 provided financial guidance for 2017 forecasting mid-single digit growth in mobile end-user service revenue and EBITDA between SEK 5.9-6.2 billion.
- Kesko's net sales were €6.8 billion, down 2.2%, while operating profit excluding non-recurring items was €171 million, equal to the previous year's level.
- Profitability remained good in the food and car trades, improved significantly in the building and home improvement trade, and weakened in the home and speciality goods trade.
- Kesko expects its net sales and operating profit excluding non-recurring items over the next 12 months to remain at the level of the preceding 12 months, despite uncertainty in the economic situation and consumer demand.
- Stora Enso reported solid financial results for Q3 2015 with operational EBIT increasing 17.1% to MEUR 246, supported by currency movements.
- Sales remained flat at MEUR 2,500 year-over-year excluding divested businesses which increased 4.9% mainly due to increased pulp mill volumes and favorable foreign exchange rates.
- Operational ROCE improved to 11.6% and net debt to last 12 months' operational EBITDA was reduced to 2.5.
Financial Statements Review 2014: Profitability in the targeted range in Q4/2014 - good orders received in Services
Presentation material at the news conference on February 6, 2015.
Finnish technology industry, November 2018TechFinland
The document provides an economic outlook for the technology industry in Finland from November 2018. It discusses several key points:
1) The technology industry, comprised of electronics, metals, mechanical engineering, IT, and consulting engineering, is the largest export sector in Finland, accounting for 51% of exports.
2) The industry has seen growth in orders, personnel, and exports in recent years but signs point to weaker order development in the winter.
3) For Finland to close its GDP gap, annual growth of 3.0% is needed from 2018-2023, compared to IMF forecasts of lower growth for Europe.
Sponda reported its financial results for Q2 2014. Key highlights include:
- Total revenue declined 6.8% to €62.6 million compared to Q2 2013.
- Net operating income declined 6.4% to €45.5 million.
- Occupancy rates declined to 85.7% from 88.3% in Q2 2013.
- They acquired an office property in Tampere for €63.7 million.
- They are in the process of setting up Certeum, a new industrial property company, through sale of logistics properties and funds for €216.7 million and €77.4 million respectively.
Este documento explica cómo resolver la integral ∫ sen2 x dx. Primero, separa la función seno en (sen x)(sen x). Luego, utiliza la fórmula sen2x = 1 - cos2x para reemplazar sen2x. Esto deja dos integrales, ∫ sen x dx y - ∫ cos2x sen x dx. La primera se resuelve directamente usando la regla de integración, mientras que la segunda requiere un cambio de variable para eliminar el término sen x. El resultado final es -cosx + -cosx3 + c.
The U.S. Department of Justice will provide $23.2 million for police body camera programs across the country, including $600,000 for the Seattle Police Department to expand its successful pilot program. The Seattle PD pilot program found positive results from using body cameras on a dozen officers. With the additional federal funding, the Seattle PD aims to equip all patrol officers with body cameras by next year.
This document provides an overview of Kesko Corporation, a Finnish trading company. It summarizes Kesko's key financial figures including net sales of €9.2 billion and operating profit of €237 million. It also outlines Kesko's business operations which include over 2,000 stores across eight countries engaged in food trade, home goods, building/DIY, and car/machinery trade. The CFO discusses Kesko's strategic priorities and financial position, noting plans to strengthen sales growth and profitability while maintaining a strong balance sheet and dividend policy.
Kesko is a Finnish retail group with over 2,000 stores across eight countries. In 2013, Kesko had net sales of €9.2 billion and operating profit of €237 million. Kesko operates stores in food retail, home goods, building materials, and car sales. Kesko has been expanding its operations in Russia, with plans to grow its store networks in food retail and DIY. Kesko aims to strengthen sales growth, improve profitability, expand e-commerce, and utilize opportunities in the Russian market. As an investment, Kesko has a market capitalization of €2.8 billion and over 40,000 shareholders.
Sponda reported its financial results for Q2 2015. Key highlights included:
- Cash flow and profits improved both quarterly and annually despite property disposals.
- Occupancy rates were 86.3%, impacted by recent disposals.
- One small development project in Helsinki was completed.
- Two properties in Russia were successfully sold at the end of June.
- Sponda expects development gains of 15% from ongoing greenfield projects.
This document provides an overview of Kesko's performance and strategic plans presented by Jukka Erlund at an analyst meeting on December 18, 2015. Key points include: Kesko's sales and profitability figures have remained stable over the past year. The grocery trade division aims to gain market share in Finland by acquiring Suomen Lähikauppa. The home improvement trade is focusing on growth in Europe through both organic expansion and acquisitions. The car trade continues to be impacted by the Volkswagen emissions scandal but maintains a strong order backlog. Overall, Kesko is well positioned financially and pursuing growth across its strategic business areas.
For the last time, Ahlstrom and Munksjö reported their interim results (Q1/2017) separately. Both companies increased their net sales and profitability.
Stora Enso reported financial results for the first quarter of 2016. Sales were slightly down at 2.445 billion euros due to structurally declining paper business, but increased by 2.4% excluding paper and divested mills. Operational EBIT increased 12.7% to 248 million euros and the margin reached a record high of 10.1%. Cash flow from operations improved to 289 million euros. The company continued strengthening its balance sheet through high investments while reducing net debt. Stora Enso also provided guidance for the second quarter of 2016, estimating sales to be slightly higher than Q1 levels and operational EBIT to be in line with or somewhat lower due to scheduled annual maintenance shutdowns.
The document discusses Kesko Group's business performance and retail trends. It summarizes Kesko's Q3 2013-Q2 2014 key figures and sales performance by division. Kesko's food trade saw sales decline 1.4% in January-August. The home and speciality goods trade declined 9.3% due to changes in consumer behavior. Building and home improvement trade sales rose 0.2% excluding currency impacts. Car and machinery trade sales were flat. Looking ahead, Kesko plans to integrate its home/speciality goods and building/home improvement divisions to create a more competitive multi-channel offering, in response to the growing importance of e-commerce.
Stora Enso reported financial results for Q4 and full year 2015. Key highlights included:
- Operational EBIT improved 15.8% in Q4 and 13% for the full year due to higher pulp volumes from Montes del Plata and favorable foreign exchange rates.
- Cash flow remained strong at EUR 412 million before investments and EUR 75 million after investments despite peak capital expenditures in 2015.
- Net debt to operational EBITDA was reduced to 2.4 from 2.6 the prior year.
- Annual EPS increased substantially to EUR 1.02 from EUR 0.13 in 2014, supported by a forest valuation gain.
- The company proposed increasing
Sponda reported its Q1 2015 financial results. Occupancy rates were stable at 86.8% and cash flow from operations was strong despite property divestments. One development project was completed in Ruoholahti and a large new project, the Ratina shopping centre, started in Tampere. Property values in Finland were stable but declined in Russia due to temporary rent reductions. Sponda will continue its strategy of non-core property disposals and investing in prime properties in Helsinki and Tampere.
- YIT reported fairly good results for Q2/2014 despite challenging market conditions in Finland. Revenue and order backlog grew in the quarter.
- Housing segment revenue increased due to higher apartment completion rates and land sales in Finland. Revenue also grew strongly in the Baltic countries and CEE.
- Operating profit decreased 9% year-over-year for the group due to lower volumes and profitability in the Business Premises and Infrastructure segment. Profitability in Housing was impacted by capital release actions and a change in geographical mix.
- Sales declined 3% year-over-year due to structurally declining paper business, but grew 3% excluding paper and divested businesses. Operational EBIT increased 21% due to foreign exchange gains and lower costs.
- Consumer board sales were flat while operational EBIT increased 27% due to foreign exchange gains and lower costs. Biomaterials sales increased 35% and operational EBIT increased significantly due to the Montes del Plata ramp-up.
- Wood products sales declined 12% and operational EBIT declined 25% due to lower production and deliveries.
Tele2 reported financial results for the fourth quarter of 2016. Mobile end-user service revenue increased 14% to SEK 3.71 billion driven by growth in Sweden, the Baltics, and the Netherlands. EBITDA increased 9% to SEK 1.46 billion despite investments related to the acquisition of TDC Sweden and the mobile launch in the Netherlands. Looking ahead, Tele2 provided financial guidance for 2017 forecasting mid-single digit growth in mobile end-user service revenue and EBITDA between SEK 5.9-6.2 billion.
- Kesko's net sales were €6.8 billion, down 2.2%, while operating profit excluding non-recurring items was €171 million, equal to the previous year's level.
- Profitability remained good in the food and car trades, improved significantly in the building and home improvement trade, and weakened in the home and speciality goods trade.
- Kesko expects its net sales and operating profit excluding non-recurring items over the next 12 months to remain at the level of the preceding 12 months, despite uncertainty in the economic situation and consumer demand.
- Stora Enso reported solid financial results for Q3 2015 with operational EBIT increasing 17.1% to MEUR 246, supported by currency movements.
- Sales remained flat at MEUR 2,500 year-over-year excluding divested businesses which increased 4.9% mainly due to increased pulp mill volumes and favorable foreign exchange rates.
- Operational ROCE improved to 11.6% and net debt to last 12 months' operational EBITDA was reduced to 2.5.
Financial Statements Review 2014: Profitability in the targeted range in Q4/2014 - good orders received in Services
Presentation material at the news conference on February 6, 2015.
Finnish technology industry, November 2018TechFinland
The document provides an economic outlook for the technology industry in Finland from November 2018. It discusses several key points:
1) The technology industry, comprised of electronics, metals, mechanical engineering, IT, and consulting engineering, is the largest export sector in Finland, accounting for 51% of exports.
2) The industry has seen growth in orders, personnel, and exports in recent years but signs point to weaker order development in the winter.
3) For Finland to close its GDP gap, annual growth of 3.0% is needed from 2018-2023, compared to IMF forecasts of lower growth for Europe.
Sponda reported its financial results for Q2 2014. Key highlights include:
- Total revenue declined 6.8% to €62.6 million compared to Q2 2013.
- Net operating income declined 6.4% to €45.5 million.
- Occupancy rates declined to 85.7% from 88.3% in Q2 2013.
- They acquired an office property in Tampere for €63.7 million.
- They are in the process of setting up Certeum, a new industrial property company, through sale of logistics properties and funds for €216.7 million and €77.4 million respectively.
Este documento explica cómo resolver la integral ∫ sen2 x dx. Primero, separa la función seno en (sen x)(sen x). Luego, utiliza la fórmula sen2x = 1 - cos2x para reemplazar sen2x. Esto deja dos integrales, ∫ sen x dx y - ∫ cos2x sen x dx. La primera se resuelve directamente usando la regla de integración, mientras que la segunda requiere un cambio de variable para eliminar el término sen x. El resultado final es -cosx + -cosx3 + c.
The U.S. Department of Justice will provide $23.2 million for police body camera programs across the country, including $600,000 for the Seattle Police Department to expand its successful pilot program. The Seattle PD pilot program found positive results from using body cameras on a dozen officers. With the additional federal funding, the Seattle PD aims to equip all patrol officers with body cameras by next year.
Final Fall Guide from John 8.13.14 916am emailLinda Parker
This document provides a class guide for the Wainwright House, a holistic center that has offered yoga, meditation, creativity classes, and spiritual exploration since 1951. The summary includes:
- A variety of classes are offered in the fall of 2014, including yoga, meditation, creativity workshops involving art and music, environmental awareness programs, and topics on spiritual exploration like shamanism, astrology and Native American teachings.
- Events are also listed, such as celebrating the International Day of Peace and the Autumnal Equinox in September, as well as a winter solstice celebration in December.
- Ongoing class series are advertised, including options for journal writing, painting, mandala making
Este documento describe las secciones y tablas en Microsoft Word. Explica que las secciones permiten aplicar formatos diferentes a diferentes partes de un documento. Detalla cómo crear secciones e incluir información sobre la sección actual en la barra de estado. Además, explica cómo crear tablas de contenido y tablas de ilustraciones automáticamente en Word utilizando estilos y títulos. Concluye que estas herramientas son útiles para organizar y navegar documentos.
This document summarizes the contract success between 2004-2016 to improve the organization of a company's stores and parts. Key accomplishments include:
- Barcoding all items, updating descriptions and locations, and carrying out full stock checks and valuations.
- Identifying and adding over 2300 new parts to the system, barcoding them, and increasing the number of priced items from 18% to 80%.
- Continually reorganizing, labeling, and checking stock in various storage areas like motor, oil, electrical, and bulk storage.
- Implementing new stock control systems and setting minimum/maximum stock levels.
- Identifying obsolete stock and scrapping over £113,508 worth of items
Prezados, Salve Maria Santíssima.
Segue em anexo a 31ª edição do nosso jornal "A Família Católica".
Nesta edição temos:
· - Um artigo de atualidade ímpar: Uma hierarquia para duas Igrejas, escrito pelos Dominicanos de Avrillé. Leitura indispensável para quem quer entender a crise que passamos desde o trágico Vaticano II.
· - A reprodução da posição oficial da Capela Nossa Senhora das Alegrias a respeito de Mons. Williamson e seus últimos Comentários Eleison;
· - Um belo artigo de Dom Tomas de Aquino, nosso diretor, proveniente da antiga Revista Corredentora, que, embora tenha sido publicado a algum tempo, não é muito conhecido: Colóquios com Dom Marcel Lefebvre. Uma leitura emocionante onde Dom Prior narra alguns de seus contatos pessoais com o grande Mons. Lefebvre.
Boa leitura a todos!
Building & Fostering a Search Marketing Culture in Your OrganizationCorey Morris
If you’re an SEO or PPC practitioner working in the trenches on a daily basis, you’ve likely had some challenges in your own organization (or with organizations you work with) on moving conversations about search marketing from a siloed marketing channel to part of the company culture. It was recently quoted that only 21% of companies even budget for SEO. There are many efficiencies to be gained by integrating tasks and data within marketing departments and companies as a whole as we know that the old days of channel marketing without collaboration are gone.This presentation will help you to find common ground and work to build a search marketing culture in your organization or those that you work with no matter what your functional role is. There are also tips for building a successful partnership with an agency partner if you have multiple companies/teams involved with your digital marketing.
O documento descreve a história da fotografia desde suas origens com Alhaken de Basora até o desenvolvimento do processo de colódio úmido por Frederick Scott Archer. Detalha também as diferenças entre fotografia convencional e digital, destacando os principais componentes e vantagens de cada uma.
This document lists reference projects for Sjouke Havinga, including over 200 projects in waste water treatment and dairy, food, beverage, paper and other industries in Holland, Belgium, France, Spain, Germany, UK, Ireland and other locations worldwide. The projects involved consulting, commissioning, piloting and site management of waste water treatment plants, anaerobic digestion systems, and dairy production facilities including cheese making lines and vats.
Learn Why Agents are Moving to eXp Realty!Allison Gaddy
Top Recruiter with Previous Firm to be Introduced at Meeting of Agent-Owners and Shareholders
BELLINGHAM, WA. – April 23, 2015 – eXp Realty International Corporation (OTCQB: EXPI), The Agent-Owned Cloud Brokerage™, today announced that Gene Frederick, a renowned recruiter in the real estate industry, is joining the Company. Mr. Frederick will join eXp Realty following an impressive tenure with industry leader Keller Williams (KW) since 1994.
“Keller Williams is a wonderful organization. I am very proud of what we have been able to accomplish together over the last twenty years,” said Frederick. “I wish all of the wonderful people at KW nothing but continued success and, knowing the leadership and culture as I do, know they wish the same for me. I am grateful for the breadth of experience KW afforded me and am excited to move onto the next stage of my career with eXp Realty .”
Frederick was the top recruiter for Keller Williams in 4 of the last 10 years, in 2005 and 2006, and again in 2012 and 2013. He also previously was one of the Top 20 agents in the State of Texas. As part of the announcement Frederick also indicated that he would be divesting his ownership interest in the Northern California region, as well as interests in market centers located in Dallas, TX; Cupertino, CA; Amarillo, TX; Alexandria, VA; Carmel, CA; and, Palo Alto, CA .
Frederick, who resides in Austin, Texas, participated in a Google hangout with eXp Realty President, Jason Gesing and CEO and Founder, Glenn Sanford. The recording of that session can be found here: https://www.youtube.com/watch?v=ugaUSSWyJHg.
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Kesko is a Finnish retail group operating in grocery trade, building and technical trade, and car trade. In Q3/2016, Kesko had net sales of €9.6 billion, operating profit of €269 million, and ROCE of 12.5%. Kesko operates in 9 countries and has over 45,000 employees. Kesko's divisions include grocery stores, building material stores, and car dealerships. Kesko is pursuing growth through expanding its grocery operations in Finland, growing its building and technical trade in Europe, and expanding its car trade in Finland. Kesko is also working to improve profitability through cost savings programs and synergies from acquisitions.
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Kesko is a Finnish retail company with operations in eight countries and over 50,000 employees. In 2015, Kesko had net sales of €8.6 billion and operating profit of €250 million. Kesko operates in grocery trade, home improvement and speciality goods trade, and car trade. The company's strategic growth areas include increasing market share in Finnish grocery trade, expanding building and technical trade in Europe, and growing B2B sales. Kesko is progressing on strategy implementation through initiatives like acquiring Suomen Lähikauppa and Onninen to strengthen its grocery and building/technical trade businesses.
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Kesko, a Finnish retail group, has announced a new strategy focused on three key areas:
1) Turning around its declining market share in the Finnish grocery trade through increased investment in stores and improving prices.
2) Increasing its building and home improvement trade operations in Europe through organic growth and potential acquisitions.
3) Strengthening its market leadership in the Finnish passenger car trade through closer cooperation with Volkswagen Group and potential expansion in the Baltic countries.
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Kesko CMD, President and CEO Mikko HelanderKesko_Oyj
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1) Kesko reported 9.1% net sales growth and an operating profit of €269m with an operating margin of 2.8% for the past 12 months.
2) Kesko has executed portfolio strategies like divesting businesses and acquiring others, and aims to further improve cash flow generation through growth, synergies from acquisitions, cost savings of €50m, reduced capex, and working capital efficiency.
3) Kesko targets to enhance return on capital employed to 14% and continue its good dividend yield, having distributed at least 50% of comparable earnings per share as dividends.
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- Sponda acquired six office properties and Forum Shopping Centre in Helsinki for EUR 576 million.
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- Kesko's strategic growth areas are grocery trade, building and home improvement trade, and car trade. It aims to turn around its grocery market share in Finland and expand its building and home improvement trade in Europe.
- Kesko's grocery trade had net sales of €4.8 billion in 2014. It is implementing a new customer-focused strategy in Finland to improve its market share. Its
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3. OPERATIONS IN THREE DIVISIONS
3
Grocery trade Building and
technical trade
Car trade
• Some 1,500 retailer
operated stores in
Finland and 9 in
Russia
• Net sales €4.9bn
• #2 in the Finnish
market
• Some 700 stores in
9 countries
• Net sales €3.3bn
• #1 in the Finnish
building and home
improvement market
• Sole importer of
VW, Audi and Seat
+10 stores
• Net sales €0.8bn
• VW #1 in first
registrations
4. NET SALES BY DIVISION Q2/2016
€1,353m
52%€1,046m
40%
€214m
8%
Grocery trade +2.3%*
total change +17.7%
Building and technical
trade +6.7%*
total change +18.4%
Car trade +12.1%
4
* in local currencies, excluding acquisitions
5. 5
OPERATIONS IN NINE COUNTRIES
Norway
5% Sweden
2%
Finland
81%
Lithuania
4%
Latvia
1%
Estonia
2%
Russia
4%
Belarus
1%
Retail sales, € million, 2015
(excl. Suomen Lähikauppa
and Onninen)
Finland 8,927
Sweden 209
Norway 664
Estonia 136
Latvia 90
Lithuania 366
Russia 311
Belarus 116
Poland
6. • K-Group’s pro forma sales €13.4bn
• Operations in nine countries
• Number of personnel around 50,000
• Third largest retailer in northern
Europe
6
K-GROUP TODAY
After the acquisition of Suomen Lähikauppa and Onninen
7. GROWTH STRATEGY
• Growth of the grocery trade particularly in Finland
• Growth of the building and technical trade and
expansion in Europe
• Growth of the car trade particularly in Finland
7
7
8. Real estate
arrangement
Divestment of
Anttila
Kesko Senukai
arrangement in
the Baltic
countries
Acquisition of
Suomen
Lähikauppa
Acquisition of
Onninen
8
STRATEGY IMPLEMENTATION IS
PROGRESSING
One unified Kesko – the customer and quality in everything we do
11. KESKO GROCERY TRADE
11
Net sales €4,867m
Operating profit* €174m
Operating margin* 3.6%
ROCE* 22.2%
K-Group 32.7%
S-Group 45.9%
Lidl 8.3%
Suomen Lähikauppa 6.4%
Others 6.7%
Total market €16.6 billion in 2015
Source: Nielsen
* comparable
Q3/2015-Q2/2016
12. RETAIL STORES
Sales 2015
€ million, VAT 0%
Number of stores at
31.12.2015
Concept
1,505+575 81 Hypermarket
1,716 219 Supermarket
1,189 476
Neighbourhood
store
Siwa and
Valintatalo stores
936 600
Neighbourhood
store
106 9
Compact hyper,
Russia
Others 122 108 Incl. online store
12
13. 13
GROCERY TRADE STRATEGY PROGRESSING AS
PLANNED
• Renewal of neighbourhood store
network and conversion of Siwa and
Valintatalo stores into K-Markets
• 70 renewed Neste K service station
stores by 2017, of which 25 completed
in 2016
• Renewal of K-citymarket chain
• Best digital services in the trading
sector
14. INTEGRATION OF SUOMEN LÄHIKAUPPA
• Conversion of Siwa and Valintatalo stores into
K-Markets
• K-neighbourhood store selection and Pirkka
products introduced
• Prices as much as 20% lower
• Conversion has progressed faster than planned
• Some 90 stores already converted, over 200 by
the end of 2016
• Average increase of 6% over last year in customer
visits of stores converted into K-Markets
• Net sales of stores converted into K-Markets have
improved by an average of 12% compared to the
performance of the first months of the year
14
15. ACQUISITION OF SUOMEN LÄHIKAUPPA -
FINANCIAL IMPACTS
• Synergy benefits are estimated at approximately €25–30 million at EBITDA
level as of 2018
• Requires conversion costs for the renewal of the stores acquired from
Suomen Lähikauppa. The costs of store and network conversion, to be
treated as non-recurring restructuring cost, will total approximately €30
million in 2016–2018.
15
16. K-CITYMARKET CHAIN RENEWAL
• K-citymarket renewal to be implemented in 23 stores by 12/2016
• Future new K-citymarket stores: Helsinki Itäkeskus in autumn 2017 and
Sastamala in spring 2017
• Renewal of non-food departments has begun
• Self-service checkout testing ongoing at KCM Helsinki Ruoholahti, feedback
from customers very positive
• Posti service points already at 25 K-citymarket stores
• Next Starbucks to open at KCM Jumbo in Vantaa on 19 August
16
18. BUILDING AND TECHNICAL TRADE
18
Net sales €3,335m
Operating profit* €82m
Operating
margin*
2.4%
ROCE* 10.1%
Sports trade
€186m
Furniture trade
€179m
Agricultural and machinery
trade Finland €500m
Others
€37m
Building and home improvement
trade Belarus €116m
Building and home
improvement trade
Russia €192m
Building and home
improvement trade
Finland €794m
Building and home
improvement trade
Scandinavia €627m
Building and home
improvement trade
Baltics €461m
Agricultural and machinery
trade Baltics €115m
* comparable
2015
Q3/2015-Q2/2016
19. 15.2
14.2
5.6 5.2
4.3
3.5
2.6
0
4
8
12
16
Groupe
Adeo
Kingfisher OBI Bauhaus K-group
and
Onninen
Hornbach Wolseley
Nordic
Net sales, 2015
KESKO AND K-GROUP ONE OF THE LEADERS IN
ITS FIELD IN EUROPE
Source: Companies’ annual reports, websites,
Kingfisher excl. B&Q China
Bauhaus: Dähne Statistics DIY Europe, estimate
€bn
19
5/2015
20. GOOD PROFIT PERFORMANCE IN THE BUILDING
AND TECHNICAL TRADE DIVISION
• Good sales performance
• Strong growth in B2B trade
• Profitability improved especially in
the Baltics, Sweden and Norway
• Kesko Senukai’s profitability good
• Market still has significant growth
potential
20
0
10
20
30
40
50
60
70
80
90
Comparable rolling 12 mo operating profit
M€
21. STRENGTHENING OF PROFITABILITY AND
GROWTH
• Combination of Onninen and Kesko to
become the strongest B2B entity in the
market
• Widest selection in the market
• Most comprehensive store network and
largest sales organisation of northern Europe
• Most customer oriented logistics and digital
services for B2B customers
• Realisation of synergies has started
21
22. ACQUISITION OF ONNINEN - SIGNIFICANT
ECONOMIES OF SCALE AND SYNERGIES
• From common customer relationships
• From purchasing and logistics
• From store site network development
• From ICT and administration
• From efficient employment of capital
• Full synergies at EBITDA level around €30 million per year as of 2020
• Combined net cash flow impact of synergies estimated at around €25 million
positive in 2016-2019
22
23. Belarus 3%
Russia 4%
Finland 45%
€1.9bn
Sweden 9%
Baltics 12%
K-Group and Onninen, breakdown of 2015 retail sales €4.3bn (pro forma)
STRONG OPERATOR IN EUROPE
23
Norway 22%
Poland 5%
Foreign countries 55%
€2.4bn
24. GROWTH FROM EUROPE AND B2B SALES
• Growth from both B2C and B2B sales
• Strengthening of market position in
Finland
• Accelerating of growth and further
strengthening of positions in
Scandinavia
• Boosting Kesko Senukai’s growth
24
Current operating country
Poland with acquisition of Onninen as of 1 June
25. 25
LARGE GROWTH POTENTIAL
Country Market size, €bn Kesko’s market
share
Finland 3.1 40%
Sweden 4.3 5%
Norway 4.0 17%
Estonia 0.4 24%
Latvia 0.4 12%
Lithuania 0.5 30%
Russia 9.2 7%*
Belarus 1.4 10%
Poland 5.7 -
*St. Petersburg and Moscow regions
27. CAR TRADE
27
Net sales €786m
Operating profit* €25m
Operating margin* 3.2%
ROCE* 22.5%
Volkswagen 11.0%
Toyota 10.8%
Skoda 9.7%
Ford 8.1%
Volvo 6.3%
Nissan 6.1%
Kia 6.1%
Audi 5.2%
Seat 2.0%
Others 34.7%* comparable
Q2/
2016
Q3/2015-Q2/2016
28. 28
MAXIMISING VALUE CREATION ALSO IN OTHER
BUSINESSES
• Important to have the best platform for Kesko’s small and medium
sized businesses to succeed in tight competition
• Furniture trade (Finland and Estonia)
• Agricultural trade (Finland)
• Machinery trade (Finland and the Baltic countries)
• Shoe trade (Finland)
• Sports trade (Finland)
• All options which improve competitiveness of other businesses and
retailer entrepreneurs are possible
32. 32
FINANCIAL TARGETS AND
CAPITAL EXPENDITURE
• Return on capital employed 14%
• Return on equity 12%
• Interest bearing net debt / EBITDA < 2.5
• Capital expenditure in 2015–2017 approximately €750 million
• Excluding possible acquisitions
Dividend policy: Kesko Corporation distributes at least 50% of its
comparable earnings per share as dividends, taking however the company's
financial position and operating strategy into account.
33. RETURN ON CAPITAL EMPLOYED
COMPARABLE, ROLLING 12 MO
33
14.0
13.1
9.0 9.8 9.9
11.7
12.6
0
4
8
12
16
2010 2011 2012 2013 2014 2015 Q2 2016
%
Target
14%
34. RETURN ON CAPITAL EMPLOYED BY DIVISION
COMPARABLE, ROLLING 12 MO
34
Group totalBuilding and
technical trade
Grocery trade Car trade
%
22.2
10.1
22.5
12.6
0
5
10
15
20
25
30
38. 38
REAL ESTATE IN 2015
38
Owned properties
Country
Area,
1,000 m2
Finland 540
Other Nordic countries 66
Baltic countries and Belarus 109
Russia 191
Total
Carrying amount
906
€1,107m
Leased properties total
1,000 m2
2,951
Classification
Strategic properties 64%
Standard properties 26%
Development properties 9%
Realisation properties 1%
39. 39
SHAREHOLDERS 7/2016
The largest registered
shareholders by number of
shares
Foreign ownership of
B shares 44%
1 K-retailers´ Association 3,942,746 3.94
2 Vähittäiskaupan Takaus Oy 3,491,771 3.49
3 Kruunuvuoren Satama Oy 3,438,885 3.44
4
Ilmarinen Mutual Pension
Insurance Company 1,990,632 1.99
5 Valluga-sijoitus Oy 1,340,439 1.34
6
Varma Mutual Pension Insurance
Company 1,130,986 1.13
7
Foundation for Vocational Training
in the Retail Trade 1,127,533 1.13
8 Oy The English Tearoom Ab 1,000,000 1.00
9 The State Pension Fund 950,000 0.95
10 Elo Pension Company 896,968 0.90
%
43. 43
OUTLOOK
Estimates for the outlook of Kesko Group's net sales and comparable operating profit
are given for the 12-month period following the reporting period (7/2016-6/2017) in
comparison with the 12 months preceding the end of the reporting period (7/2015-
6/2016).
The general economic situation and the expected trend in consumer demand vary in
Kesko’s different operating countries. In Finland, owing to the weak trend in
consumers’ purchasing power, the trading sector’s growth is expected to remain slow.
In the Finnish grocery trade, intense competition is expected to continue. The
markets for the Finnish building and technical trade are expected to improve slightly.
With respect to foreign countries, the outlook for the Russian economy is still modest.
In Sweden and Norway and the Baltic countries, the market is expected to grow.
Kesko Group's net sales for the next 12 months are expected to exceed the level of
the preceding 12 months. The comparable operating profit for the next 12-month
period is expected to exceed the level of the preceding 12 months.
45. KESKO IS THE MOST RESPONSIBLE FOOD AND
STAPLES RETAILER IN THE WORLD
45
In 2015, Kesko rose to CDP’s Climate A List for the first time
At the top of the Nordic Climate Disclosure Leadership climate index since 2011.
In 2015, Kesko was awarded the full 100 points
In ’The Global 100 Most Sustainable Corporations in the World’ list since 2005
Included in the FTSE4Good index since 2009
Included in the STOXX Global ESG Leaders index family since 2011
Included in the Dow Jones sustainability indexes DJSI World and DJSI Europe
2003-2014
47. Q2 HIGHLIGHTS
• Kesko’s net sales increased markedly, by 17.2%. Growth in local currencies,
excluding acquisitions, was 4.6%
• Acquisitions of Suomen Lähikauppa and Onninen were completed during the
second quarter
• Comparable operating profit increased to €79.1 million (€76.4 million)
• Return on capital employed continued to rise and was 12.6% (10.9%)
• In the grocery trade, good profitability, acquisition of Suomen Lähikauppa
significantly increased net sales
• In the building and technical trade, growth strengthened organically and with
the acquisition of Onninen. Profitability continued to improve
• In the car trade, sales increased markedly, profitability at a good level
47
48. KEY PERFORMANCE INDICATORS
48
Q2/2016 Q2/2015 H1/2016 H1/2015
Net sales, €m 2,610 2,227 4,624 4,310
Operating profit*, €m 79.1 76.4 111.4 102.9
Operating margin*, % 3.0 3.4 2.4 2.4
Profit before tax*, €m 79.2 72.7 113.7 99.1
Earnings per share*, € 0.59 0.52 0.85 0.71
Return on capital employed*, %,
rolling 12 mo
12.6 10.9
Return on equity*, %, rolling 12 mo 9.4 8.4
*Comparable
50. GROCERY TRADE, Q2
• Acquisition of Suomen Lähikauppa completed in April
• K-Group’s grocery sales +14.9%, Suomen Lähikauppa excluded,
-0.3%
• Change in grocery market prices around -1%
• Strengthening of quality and price competitiveness progressed as
planned
• Profitability at a good level due to enhancement actions taken
• Renewal of Kesko’s neighbourhood retail services making fast progress
• All of the over 400 K-Markets will be renewed
• Siwa and Valintatalo stores acquired from Suomen Lähikauppa to be
converted into K-Markets
50
51. NET SALES
Q2 GROWTH 17.7%, IN LOCAL CURRENCIES EXCL. ACQUISITIONS 2.3%
51
500
1,000
1,500
2,500
2,000
0
H1/2016
2,447
H1/2015
2,252
Q2/2016
1,353
Q2/2015
1,149
€m
54. BUILDING AND TECHNICAL TRADE, Q2
• Net sales growth 18.4%, in local currencies, excluding Onninen, 6.7%
• Sales in B2B trade strengthened
• Sales in local currencies increased in all operating countries
• Acquisition of Onninen completed at the beginning of June and will significantly
strengthen the division’s growth strategy
• Significant synergy potential
• Profitability improved by increased operating profit in the building and home
improvement trade in the Nordic and Baltic countries, the acquisition of
Onninen and the good profit performance of the leisure trade
• During the reporting period, a decision was made in the building and technical
trade to combine the Rautia and K-rauta stores into a new K-rauta chain in
spring 2017. At the same time, all of the 140 building and home improvement
stores in Finland will be revamped
54
55. NET SALES
Q2 GROWTH 18.4%, IN LOCAL CURRENCIES EXCL. ACQUISITIONS 6.7%
55
883
500
1,000
1,500
2,000
0
1,656
Q2/2016
1,046
Q2/2015 H1/2016
1,741
H1/2015
€m
58. CAR TRADE, Q2
• In the car trade, total market performance was strong in April-June
• VV-Auto’s net sales growth +12.1%
• Combined market share of Volkswagen, Audi and Seat passenger cars
and vans in April-June 18.7%
• Profitability remained at a good level, operating profit €5.8 million
• VV-Auto’s order books strengthened markedly from the previous year
58
61. K-PLUSSA TO BE REVISED AND NEW K-KAMPUS
TO BE BUILT IN KALASATAMA, HELSINKI
• A key role in the implementation of Kesko’s strategy is also played by the
revision of K-Plussa. In the future, the revised K-Plussa will be the most
rewarding customer loyalty programme and offer the best digital services.
• The new K-kampus will also take the one, unified Kesko a leap forward.
K-kampus will be built in Kalasatama, Helsinki, in cooperation with Varma.
Kampus will be completed in spring 2019 and it will bring together around
1,700 Kesko employees.
61