NOTE 34
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.