Frontpage 
Further information Shares and shareholders
Shares and shareholders
Dividend policy
On 4 February 2009, Kesko Corporation’s Board of Directors decided to revise Kesko Corporation’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. According to 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 (stock exchange release on 5 February 2009).
The financial objectives are presented on page strategic objectives.
Proposed dividends for the year 2010
Kesko Corporation’s Board of Directors proposes to the Annual General Meeting that €128,233,679.60 or €1.30 per share be distributed as dividends from the net profit for the year 2010, representing 63% of earnings per share and 73% of earnings per share excluding non-recurring items. During the past five years 84.7% of earnings per share excluding non-recurring items, on the average, has been distributed as dividends.
Basic information on the shares at 31 december 2010
A share
- symbol: KESAV (OMX)
- ISIN code: FI0009007900
- voting rights per share: 10 votes
- number of shares: 31,737,007
- market capitalisation: €1,101 million
B share
- symbol: KESBV (OMX)
- ISIN code: FI0009000202
- voting rights per share: 1 vote
- number of shares: 66,904,285
- market capitalisation: €2,337 million
Trading unit of both share series: 1 share
Total share capital: €197,282,584
Total number of shares: 98,641,292
Voting rights carried by all shares: 384,274,355
Total market capitalisation: €3,438 million
Share series and share capital
Kesko Corporation’s share capital is divided into A shares and B shares. The company’s share capital was €197,282,584.
The minimum number of A shares is one (1) and the maximum number two hundred and fifty million (250,000,000), while the minimum number of B shares is one (1) and the maximum number two hundred and fifty million (250,000,000), provided that the total number of shares is at minimum two (2) and at maximum four hundred million (400,000,000). The total number of shares is 98,641,292, of which 31,737,007 (32.2%) are A shares and 66,904,285 (67.8%) are B shares.
Each A share entitles the holder to 10 votes and each B share to 1 vote. Both shares give the same dividend rights. The number of votes carried by A shares is 83% and the number of votes carried by B shares is 17% of the total voting rights.
The company’s shares are included in the book-entry securities system held by Euroclear Finland Ltd.
The right to receive funds distributed by the company and to subscribe for shares when shares are issued belongs only to those
- who are registered as shareholders in the shareholder register on the record date
- whose right to receive payments has been entered by the record date into the book-entry securities account of the shareholder registered in the shareholder register, and registered in the shareholder register
- if a share is registered in a nominee name, into whose book-entry securities account the share is entered at the record date, and whose custodian is registered in the shareholder register as the custodian of the shares at the record date.
Authorisations of the board and treasury shares
Kesko Corporation’s Annual General Meeting held on 30 March 2009 authorised the company’s Board of Directors to decide about the issuance of a maximum of 20,000,000 new B shares. The new shares can be issued against payment either in a directed issue to the company’s existing shareholders in proportion to their existing shareholdings regardless of whether they consist of A or B shares; or in a directed issue deviating from the shareholders’ pre-emptive rights in order for the issued shares to be used as consideration in possible company acquisitions, other company business arrangements, or to finance capital expenditure. The company must have a weighty financial reason for deviating from the shareholders’ pre-emptive rights. The share subscription price is recognised in the reserve of invested non-restricted equity.
The Board of Directors was also given the authority to decide about the subscription price of the shares, to issue shares against non-cash consideration, and to make decisions concerning any other matters relating to share issues. The share issue authorisation will be valid until 30 March 2012. The authorisation has not been used.
The company operates the 2007 share option plan. The exercise period of the plan’s 2007A options began on 1 April 2010. The exercise periods of the 2007B and 2007C options have not begun yet.
The Board of Directors has no other valid authorisations to issue shares, to increase share capital, or to acquire or dispose of treasury shares.
Kesko Corporation or its subsidiaries held no Kesko Corporation shares.
Shareholders
According to the register of Kesko’s shareholders kept by the Euroclear Finland Ltd, there were 38,258 shareholders at the end of 2010 (38,888 at the end of 2009). The total number of shares registered in a nominee name was 25,042,687, accounting for 25.39% of all shares (19,352,409 and 19.68% respectively at the end of 2009). The number of votes carried by these shares was 25,633,807 or 6.67% of the total voting rights (19,875,903 or 5.18% respectively at the end of 2009). A list of Kesko’s largest shareholders, updated monthly, is available at www.kesko.fi/investors.
The 2003 option scheme
On 31 March 2003, the Annual General Meeting resolved to gratuitously issue a total of 1,800,000 stock options to the management of the Kesko Group as well as to a wholly-owned subsidiary of Kesko Corporation. A deviation was made from the shareholders’ pre-emptive right to subscription since the stock options form a part of the incentive and commitment programme for the management. The scheme comprised approximately 60 persons. Each stock option entitled its owner to subscribe for one Kesko Corporation B share. The stock options were marked with shortnames 2003D (KESBVEW103, ISIN code FI0009609317), 2003E (KESBVEW203, ISIN code FI0009609325), and 2003F (KESBVEW303, ISIN code FI0009609333), in units of 600,000 stock options each.
The share subscription periods of the options are (subscription periods have expired):
- 2003D, 1 April 2005 – 30 April 2008,
- 2003E, 1 April 2006 – 30 April 2009, and
- 2003F, 1 April 2007 – 30 April 2010.
The original share subscription price for stock option 2003D was the trade volume weighted average price of a Kesko Corporation B share on the Helsinki Stock Exchange between 1 to 30 April 2003 (€9.63), for stock option 2003E, the corresponding price between 1 to 30 April 2004 (€15.19) and for stock option 2003F, the corresponding price between 1 to 30 April 2005 (€19.08). The subscription periods have expired.
The 2007 option scheme
The Annual General Meeting of 26 March 2007 decided to grant a total of 3,000,000 stock options for no consideration to the Kesko Group management and other key Kesko personnel, and to a subsidiary wholly owned by Kesko Corporation. The company had a weighty financial reason for granting stock options because they are intended to be part of Kesko’s share-based incentive system.
Each stock option entitles its holder to subscribe for one new Kesko Corporation B share. The stock options were marked with symbols 2007A (KESBVEW107, ISIN code FI0009637201, 2007B (KESBVEW207, ISIN code FI0009637219) and 2007C (KESBVEW307, ISIN code FI0009637227) in units of 1,000,000 options each.
The share subscription periods of the options are:
- 2007A, 1 April 2010 – 30 April 2012,
- 2007B, 1 April 2011 – 30 April 2013 and
- 2007C, 1 April 2012 – 30 April 2014.
The original subscription price for stock option 2007A was the trade volume weighted average quotation of a Kesko Corporation B share on the Helsinki Stock Exchange between 1 April and 30 April 2007 (€45.82), for stock option 2007B between 1 April and 30 April 2008 (€26.57), and for stock option 2007C between 1 April and 30 April 2009 (€16.84). The subscription prices of shares subscribed for with stock options are reduced by the amount decided after the beginning of the period for the determination of the subscription price but before the subscription, as at the record date for each dividend distribution or other distribution of funds. After the 2009 dividend distribution, the subscription price for a B share with a 2007A option is €42.32, with a 2007B option €24.67 and with a 2007C option €15.94.
If shares were subscribed for with all of the exercisable options, the shares subscribed for with all of the 2007 scheme options would account for 2.95% of shares and 0.77% of all votes. The subscriptions made with options could raise the number of the company shares to 101,641,292. As a result of the subscriptions, the voting rights carried by all shares could increase to 387,274,355 votes.
Share subscriptions made with stock options
In 2010, the share capital was increased three times corresponding to share subscriptions made with the options of the 2003 option scheme. The increases were made on 11 February 2010 (€128,424), 3 May 2010 (€422,754) and 3 June 2010 (€88,348). In 2010, the share capital was increased by a total of €639,526 (319,763 shares).
By the end of 2010, 574,088 B shares had been subscribed for with the 2003D options (subscription period has expired), 576,000 with the 2003E options (subscription period has expired), and 552,499 with the 2003F options (subscription period has expired), or 1,702,587 B shares in aggregate.
The subscribed shares have been included in the official list of the NASDAQ OMX Helsinki stock exchange for public trading.
Until now, shares have not been subscribed for with the 2007 option scheme options. A total of 3,000,000 new B shares can be subscribed for under this scheme. The proceeds from share subscriptions are recorded in the reserve of invested non-restricted equity.
Other special shareholding rights
The company has not issued other share options, convertible bonds, bonds with warrants or other special rights to company shares.
Shares and options held by the management
At the end of 2010, the members of Kesko Corporation’s Board of Directors, the President and CEO and the corporations under their control held 224,720 Kesko Corporation A shares (224,720 at the end of 2009) and 105,820 Kesko Corporation B shares (100,820), or a total of 330,540 shares (325,540), which represented 0.34% (0.33%) of the company’s total share capital and 0.61% (0.61%) of the voting rights.
At the end of 2010, the company’s President and CEO held a total of 150,000 Kesko Corporation options (150,000 at the end of 2009), which represented 0.15% (0.15%) of the company’s total share capital and 0.04% (0.04%) of voting rights, presuming that shares have been subscribed for with all of these options. The Board members did not hold options at the end of 2010 (nor at the end of 2009).
Detailed information on shares and options held by the management at the beginning and at the end of 2010 is given on page Board of Directors.
Trading in kesko’s shares and options in 2010
Kesko Corporation’s shares are listed on the NASDAQ OMX Helsinki Ltd Helsinki stock exchange. Key information about share trading in 2010 is given in the graphs on this double page spread. The price trends of both shares followed the general share price trend. The price of liquid B shares rose by 51% and those of less liquid A shares by 47%, while the NASDAQ OMX Helsinki All Share Index was up 19%. The number of B shares traded on the Helsinki stock exchange declined by about one third. However, the value traded increased by about 5%. The number of A shares traded nearly quadrupled, compared to the previous year, and the value traded was six-fold. At the end of the year, the market capitalisation of A shares was €1,101 million and that of B shares €2,337 million. The total market capitalisation of the company was €3,438 million, an increase of €1,152 million, or 50% during the year.
Flagging notifications
On 27 July 2010, the Kesko Pension Fund sold such a number of Kesko A shares owned by it to Kruunuvuoren Satama Oy that its holding of Kesko shares, as a percentage of votes carried by all Kesko shares, fell below 5%, and respectively, the number of votes carried by shares held by Kruunuvuoren Satama Oy exceeded 5% of votes carried by all Kesko shares. The matter was announced in a stock exchange release on 27 July 2010.
On 29 October 2010, Kesko Corporation received a notice according to which the aggregate holding of Kesko shares by the K-Retailers’ Association, its Branch Clubs and the Foundation for Vocational Training in the Retail Trade exceeded 5 percent on 28 October 2010. The matter was announced in a stock exchange release on 29 October 2010.
The company has not been informed of any agreements concerning the ownership of its shares or voting rights.
Share performance indicators
The latest changes is share capital |
||||
| Year | Subscription period | Subscription ratio andprice per option type | Change | New share capital, € |
| 2006 | 13.2.2006 | 1:1 à 7.87 € B stock option | € 640,500 | € 193,608,352 |
| 1:1 à 6.11 € C stock option | ||||
| 1:1 à 5.63 € D stock option | ||||
| 2006 | 4.5.2006 | 1:1 à 7.87 € B stock option | € 938,058 | € 194,546,410 |
| 1:1 à 6.77 € B stock option | ||||
| 1:1 à 6.11 € C stock option | ||||
| 1:1 à 5.01 € C stock option | ||||
| 1:1 à 4.53 € D stock option | ||||
| 2006 | 9.6.2006 | 1:1 à 4.53 € D stock option | € 59,200 | € 194,605,610 |
| 1:1 à 12.09 € E stock option | ||||
| 2006 | 7.8.2006 | 1:1 à 4.53 € D stock option | € 118,000 | € 194,723,610 |
| 1:1 à 12.09 € E stock option | ||||
| 2006 | 3.10.2006 | 1:1 à 4.53 € D stock option | € 94,800 | € 194,818,410 |
| 1:1 à 12.09 € E stock option | ||||
| 2006 | 1.11.2006 | 1:1 à 4.53 € D stock option | € 157,200 € | € 194,975,610 |
| 1:1 à 12.09 € E stock option | ||||
| 2006 | 21.12.2006 | 1:1 à 4.53 € D stock option | € 64,240 | € 195,039,850 |
| 1:1 à 12.09 € E stock option | ||||
| 2007 | 12.2.2007 | 1:1 à 4.53 € D stock option | € 46,376 | € 195,086,226 |
| 1:1 à 12.09 € E stock option | ||||
| 2007 | 26.4.2007 | 1:1 à 3.03 € D stock option | € 86,800 | € 195,173,026 |
| 1:1 à 10.59 € E stock option | ||||
| 2007 | 29.5.2007 | 1:1 à 3.03 € D stock option | € 298,572 | € 195,471,598 |
| 1:1 à 10.59 € E stock option | ||||
| 1:1 à 16.48 € F stock option | ||||
| 2007 | 24.7.2007 | 1:1 à 3.03 € D stock option | € 9,000 | € 195,480,598 |
| 1:1 à 10.59 € E stock option | ||||
| 2007 | 26.9.2007 | 1:1 à 3.03 € D stock option | € 39,032 | € 195,519,630 |
| 1:1 à 16.48 € F stock option | ||||
| 2007 | 19.12.2007 | 1:1 à 3.03 € D stock option | € 15,900 | € 195,535,530 |
| 1:1 à 10.59 € E stock option | ||||
| 2008 | 11.2.2008 | 1:1 à 3.03 € D stock option | € 210 | € 195,535,740 |
| 1:1 à 10.59 € E stock option | ||||
| 2008 | 28.4.2008 | 1:1 à 3.03 € D stock option | € 38,168 | € 195,573,908 |
| 1:1 à 2.00 € D stock option | ||||
| 1:1 à 8.99 € E stock option | ||||
| 2008 | 9.6.2008 | 1:1 à 2.00 € D stock option | € 42,200 | € 195,616,108 |
| 1:1 à 14.88 € F stock option | ||||
| 2008 | 28.7.2008 | 1:1 à 8.99 € E stock option | € 8,600 | € 195,624,708 |
| 2008 | 1.10.2008 | 1:1 à 8.99 € E stock option | € 4,000 | € 195,628,708 |
| 2008 | 27.10.2008 | 1:1 à 8.99 € E stock option | € 6,000 | € 195,634,708 |
| 2008 | 18.12.2008 | 1:1 à 8.99 € E stock option | € 7,500 | € 195,649,708 |
| 2009 | 11.2.2009 | 1:1 à 8.99 € E stock option | € 52,392 | € 195,702,100 |
| 2009 | 5.5.2009 | 1:1 à 8.99 € E stock option | € 51,250 | € 195,753,350 |
| 1:1 à 7.99 € E stock option | ||||
| 2009 | 5.6.2009 | 1:1 à 7.99 € E stock option | € 673,146 | € 196,426,496 |
| 1:1 à 13.88 € F stock option | ||||
| 2009 | 17.12.2009 | 1:1 à 13.88 € F stock option | € 216,562 | € 196,643,058 |
| 2010 | 11.2.2010 | 1:1 à 13.88 € F stock option | € 128,424 | € 196,771,482 |
| 2010 | 3.5.2010 | 1:1 à 12.98 € F stock option | € 422,754 | € 197,194,236 |
| 2010 | 3.6.2010 | 1:1 à 12.98 € F stock option | € 88,348 | € 197,282,584 |
Prices and trading of Kesko A and B shares on the Helsinki Stock Exchange in 2010 |
|||||||
| Share | Share price, € 31 Dec. 2009 |
Share price, € 31 Dec. 2010 |
Change,% | Lowest price, € |
Highest price, € |
Trading volume, 1,000 pcs |
Total value traded, € million |
| A share | 23.60 | 34.70 | +47.0 | 23.16 | 36.45 | 4,366 | 132,839 |
| B share | 23.08 | 34.93 | +51.3 | 22.40 | 37.49 | 52,696 | 1,574,785 |
During the year, the NASDAQ OMXHelsinki All Share Index rose by 18.7% and the NASDAQ OMXHelsinkiCAP Index by 24.8%, and the Helsinki Stock Exchange Consumer Staples Index by 31.0%. Up-to-date information on shares and shareholders is available at www.kesko.fi.
10 largest shareholders by number of shares (A- and B-series) at 31.12.2010 |
|||||
Number of shares, pcs |
% of shares | Number of votes |
% of votes | ||
| 1 | Vähittäiskaupan Takaus Oy | 3,491,771 | 3.54 | 27,148,568 | 7.06 |
| 2 | The K-Retailers´ Association | 3,449,301 | 3.50 | 34,125,360 | 8.88 |
| 3 | Kruunuvuoren Satama Oy | 2,635,046 | 2.67 | 26,350,460 | 6.86 |
| 4 | Ilmarinen Mutual Pension Insurance Company | 2,043,050 | 2.07 | 4,155,908 | 1.08 |
| 5 | Valluga-sijoitus Oy | 1,340,439 | 1.36 | 13,404,390 | 3.49 |
| 6 | Kesko Pension Fund | 1,303,839 | 1.32 | 8,538,390 | 2.22 |
| 7 | Varma Mutual Pension Insurance Company | 1,130,986 | 1.15 | 1,130,986 | 0.29 |
| 8 | Oy The English Tearoom Ab | 1,008,400 | 1.02 | 1,008,400 | 0.26 |
| 9 | Foundation for Vocational Training in the Retail Trade | 946,027 | 0.96 | 8,089,318 | 2.11 |
| 10 | Tapiola Mutual Pension Insurance Company | 900,000 | 0.91 | 900,000 | 0.23 |
Ownership structure 31.12.2010 |
|||
| All shares | Number of shares | % of all shares | |
| Non-financial corporations and housing corporations | 27,638,401 | 28.02 | |
| Financial and insurance corporations | 4,458,231 | 4.52 | |
| General Government* | 7,248,353 | 7.35 | |
| Households | 27,579,318 | 27.96 | |
| Non-profit institutions serving households** | 6,168,560 | 6.25 | |
| Rest of the world | 505,742 | 0.51 | |
| Nominee registered | 25,042,687 | 25.39 | |
| Total | 98,641,292 | 100.00 | |
| A shares | Number of shares | % of A shares | % of all shares |
| Non-financial corporations and housing corporations | 20,721,940 | 65.29 | 21.01 |
| Financial and insurance corporations | 1,459,995 | 4.60 | 1.48 |
| General Government* | 1,185,435 | 3.74 | 1.20 |
| Households | 6,642,550 | 20.93 | 6.73 |
| Non-profit institutions serving households** | 1,655,845 | 5.22 | 1.68 |
| Rest of the world | 5,562 | 0.02 | 0.01 |
| Nominee registered | 65,680 | 0.21 | 0.07 |
| Total | 31,737,007 | 100.00 | 32.17 |
| B shares | Number of shares | % of B shares | % of all shares |
| Non-financial corporations and housing corporations | 6,916,461 | 10.34 | 7.01 |
| Financial and insurance corporations | 2,998,236 | 4.48 | 3.04 |
| General Government* | 6,062,918 | 9.06 | 6.15 |
| Households | 20,936,768 | 31.29 | 21.23 |
| Non-profit institutions serving households** | 4,512,715 | 6.75 | 4.57 |
| Rest of the world | 500,180 | 0.75 | 0.51 |
| Nominee registered | 24,977,007 | 37.33 | 25.32 |
| Total | 66,904,285 | 100.00 | 67.83 |
* General government = for example, municipalities, the provincial administration of Åland, employment |
|||
** Non-profit institutions = for example, foundations awarding scholarships, organisations safeguarding |
|||
10 largest shareholders by number of votes at 31.12.2010. |
|||||
Number of shares, pcs |
% of shares | Number of votes | % of votes | ||
| 1 | The K-Retailers´ Association | 3,449,301 | 3.50 | 34,125,360 | 8.88 |
| 2 | Vähittäiskaupan Takaus Oy | 3,491,771 | 3.54 | 27,148,568 | 7.06 |
| 3 | Kruunuvuoren Satama Oy | 2,635,046 | 2.67 | 26,350,460 | 6.86 |
| 4 | Valluga-sijoitus Oy | 1,340,439 | 1.36 | 13,404,390 | 3.49 |
| 5 | Kesko Pension Fund | 1,303,839 | 1.32 | 8,538,390 | 2.22 |
| 6 | Foundation for Vocational Training in the Retail Trade | 946,027 | 0.96 | 8,089,318 | 2.11 |
| 7 | Ilmarinen Mutual Pension Insurance Company | 2,043,050 | 2.07 | 4,155,908 | 1.08 |
| 8 | Food Paradise Oy | 389,541 | 0.39 | 3,895,410 | 1.01 |
| 9 | The K-Food Retailers´ Club | 366,413 | 0.37 | 3,664,130 | 0.95 |
| 10 | Heimo Välinen Oy | 320,000 | 0.32 | 3,020,000 | 0.79 |
Distribution of share ownership at 31.12.2010 |
||||
All shares Number of shares |
Number of shareholders |
% of shareholders | Shares total | % of shares |
| 1–100 | 10,932 | 28.57 | 634,207 | 0.64 |
| 101–500 | 14,498 | 37.90 | 3,949,825 | 4.00 |
| 501–1,000 | 5,445 | 14.23 | 4,290,823 | 4.35 |
| 1,001–5,000 | 5,681 | 14.85 | 12,580,749 | 12.75 |
| 5,001–10,000 | 939 | 2.45 | 6,677,528 | 6.77 |
| 10,001–50,000 | 636 | 1.66 | 13,251,152 | 13.43 |
| 50,001–100,000 | 69 | 0.18 | 4,995,879 | 5.06 |
| 100,001–500,000 | 45 | 0.12 | 9,355,076 | 9.48 |
| 500,001– | 13 | 0.03 | 42,906,053 | 43.50 |
| Total | 38,258 | 100.00 | 98,641,292 | 100.00 |
| A shares Number of shares |
Number of shareholders |
% of holders of A shares |
A shares total | % of A shares |
| 1–100 | 1,773 | 26.92 | 88,003 | 0.28 |
| 101–500 | 1,439 | 21.85 | 376,134 | 1.19 |
| 501–1,000 | 1,000 | 15.19 | 863,031 | 2.72 |
| 1,001–5,000 | 1,603 | 24.34 | 3,957,910 | 12.47 |
| 5,001–10,000 | 391 | 5.94 | 2,751,440 | 8.67 |
| 10,001–50,000 | 326 | 4.95 | 7,000,058 | 22.06 |
| 50,001–100,000 | 33 | 0.50 | 2,350,224 | 7.41 |
| 100,001–500,000 | 14 | 0.21 | 2,740,200 | 8.63 |
| 500,001– | 6 | 0.09 | 11,610,007 | 36.58 |
| Total | 6,585 | 100.00 | 31,737,007 | 100.00 |
| B shares Number of shares |
Number of shareholders |
% of holders of B shares |
B shares total | % of B shares |
| 1–100 | 10,045 | 29.52 | 592,718 | 0.89 |
| 101–500 | 13,901 | 40.85 | 3,792,433 | 5.67 |
| 501–1,000 | 4,719 | 13.87 | 3,657,216 | 5.47 |
| 1,001–5,000 | 4,420 | 12.99 | 9,415,007 | 14.07 |
| 5,001–10,000 | 540 | 1.59 | 3,885,275 | 5.81 |
| 10,001–50,000 | 333 | 0.98 | 6,618,065 | 9.89 |
| 50,001–100,000 | 31 | 0.09 | 2,241,743 | 3.35 |
| 100,001–500,000 | 29 | 0.09 | 6,397,961 | 9.56 |
| 500,001– | 8 | 0.02 | 30,303,867 | 45.29 |
| Total | 34,026 | 100.00 | 66,904,285 | 100.00 |
Share capital and shares |
||||||
| 2006 | 2007 | 2008 | 2009 | 2010 | ||
| Share capital | € million | 195 | 196 | 196 | 197 | 197 |
| Number of shares at 31 Dec. | 1,000 pcs | 97,519.9 | 97,767.8 | 97,824.9 | 98,321.5 | 98,641.3 |
| Average number of shares at 31 Dec. | 1,000 pcs | 97,152.3 | 97,665.9 | 97,795.7 | 98,061.8 | 98,525.9 |
| Adjusted average number of shares during the year | 1,000 pcs | 98,027.0 | 98,395.3 | 98,256.2 | 98,382.2 | 99,121.5 |
| of which A shares | % | 32 | 32 | 32 | 32 | 32 |
| of which B shares | % | 68 | 68 | 68 | 68 | 68 |
| Market capitalisation, A share | € million | 1,220 | 1,201 | 698 | 749 | 1,101 |
| Market capitalisation, B share | € million | 2,632 | 2,491 | 1,176 | 1,537 | 2,337 |
| Number of shareholders at 31 Dec. | pcs | 28,414 | 28,925 | 38,080 | 38,888 | 38,258 |
| Share turnover | ||||||
| A share | € million | 61 | 161 | 41 | 22 | 133 |
| B share | € million | 2,410 | 5,294 | 2,859 | 1,501 | 1,575 |
| Share turnover | ||||||
| A share | million pcs | 2 | 4 | 1 | 1 | 4 |
| B share | million pcs | 77 | 122 | 121 | 78 | 53 |
| Turnover rate | ||||||
| A share | % | 6.4 | 11.5 | 4.5 | 3.1 | 13.8 |
| B share | % | 117.1 | 185.3 | 183.3 | 117.4 | 78.8 |
| Change in turnover | ||||||
| A share | % | 57.2 | 78.8 | -61.0 | -30.4 | 339.5 |
| B share | % | 15.4 | 58.8 | -1.0 | -35.4 | -32.6 |
| Share price at 31 Dec. | ||||||
| A share | € | 38.43 | 37.85 | 22.00 | 23.60 | 34.70 |
| B share | € | 40.02 | 37.72 | 17.80 | 23.08 | 34.93 |
| Average share price | ||||||
| A share | € | 30.10 | 43.85 | 28.30 | 21.92 | 30.42 |
| B share | € | 31.34 | 43.36 | 23.51 | 19.18 | 29.83 |
| Highest share price during the year | ||||||
| A share | € | 38.99 | 53.44 | 38.20 | 25.00 | 36.45 |
| B share | € | 40.48 | 54.85 | 38.12 | 24.00 | 37.49 |
| Lowest share price over the year | ||||||
| A share | € | 23.72 | 34.52 | 21.33 | 18.73 | 23.16 |
| B share | € | 23.80 | 34.40 | 15.31 | 14.99 | 22.40 |
| Earnings per share, diluted | € | 3.76 | 2.90 | 2.24 | 1.27 | 2.06 |
| Earnings per share, basic | € | 3.80 | 2.92 | 2.25 | 1.28 | 2.08 |
| Equity per share, adjusted | € | 17.94 | 19.53 | 20.09 | 20.39 | 21.81 |
| Dividend per share | € | 1.50 | 1.60 | 1.00 | 0.90 | 1.30* |
| Payout ratio | % | 39.5 | 54.8 | 44.5 | 70.5 | 63.1* |
| Dividend as percentage of profit excl. non-recurring items | % | 82.0 | 72.4 | 69.4 | 126.8 | 72.7* |
| Cash flow from operating activities per share, adjusted | € | 3.35 | 2.52 | 1.37 | 3.86 | 4.43 |
| Price per earnings ratio (P/E), A share, adjusted | 10.22 | 13.07 | 9.84 | 18.54 | 16.77 | |
| Price per earnings ratio (P/E), B share, adjusted | 10.64 | 13.02 | 7.96 | 18.13 | 16.88 | |
| Effective dividend yield, A share | % | 3.9 | 4.2 | 4.6 | 3.8 | 3.8* |
| Effective dividend yield, B share | % | 3.8 | 4.2 | 5.6 | 3.9 | 3.7* |
| Yield of A share for the last five periods | % | 29.3 | 26.6 | 10.9 | 9.2 | 12.2 |
| Yield of B share | ||||||
| for the last five periods | % | 42.8 | 36.1 | 12.9 | 10.3 | 12.6 |
| for the last ten periods | % | 22.7 | 18.7 | 11.7 | 14.9 | 13.8 |
*proposal to the Annual General Meeting |