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NOTE 34

Operating leases

Group as the lessee
Minimum lease payments under non-cancellable operating lease agreements:
     
€ million 2009 2008
No later than 1 year 352.6 322.5
Later than 1 year and no later than 5 years 1,071.5 955.0
Later than 5 years 935.4 823.7
Total 2,359.5 2,101.1
   
Expected future minimum lease payments under non-cancellable sublease agreements 57.8 61.5
   
Lease and sublease payments recognised
for the financial year:
   
Minimum lease payments 335.9 305.3
Contingent rents 0.5 0.7
Sublease income 26.3 21.8


The 2009 income statement includes net rent and maintenance rent payments under operating leases, and other rents in a total amount of €383.1 million (€349.9 million). The maintenance rent payments are not included in the minimum lease payments.

Kesko leases retail and logistics premises for its operating activities. Most of the leases are index-linked and in conformity with local market practice.

Group as the lessor    
Minimum lease payments received under non-cancellable operating lease agreements:
     
€ million 2009 2008
No later than 1 year 8.6 8.8
Later than 1 year and no later than 5 years 15.3 15.2
Later than 5 years 13.6 13.1
Total 37.5 37.1
   
Aggregate contingent rents charged to the income statement - 0.1

Kesko leases premises to entrepreneurs other than K-retailers in order that the total service offer of a store site support its profit generation potential. Such premises typically include so-called store entrance stores at large retail outlets.