Kesko Group: Announces 9M-2023 Financial Results

Kesko / FI. (kkc) A fine performance in a challenging market Finland’s Kesko Group managed in the third quarter of the current financial year and also in the first nine months. 9M-2023 performance in brief:

  • Group net sales in January-September totalled EUR 8,881.8 million (EUR 8,825.5 million). Reported net sales increased by 0.6 percent, in comparable terms net sales increased by 0.2 percent
  • Comparable operating profit totalled EUR 541.6 million (EUR 622.5 million)
  • Operating profit totalled EUR 535.5 million (EUR 625.3 million)
  • Cash flow from operating activities totalled EUR 707.1 million (EUR 652.2 million)
  • Comparable earnings per share EUR 0.97 (EUR 1.18), reported earnings per share EUR 0.96 (EUR 1.18)

Group net sales increased by 0.6 percent in 9M-2023. In comparable terms, net sales increased by 0.2 percent. Net sales grew in comparable terms by 2.5 percent in Finland, and decreased by 9.7 percent in other Kesko operating countries. The comparable change percent has been calculated in local currencies and excluding the impact of acquisitions and divestments completed. President and CEO Mikko Helander: «Net sales for the grocery trade division grew by 4.6 percent. Sales to K Group grocery store chains grew by 3.2 percent. Net sales for Kespro’s foodservice business grew by 13.0 percent in January-September. Without Covid-19 restrictions, consumption was relatively more geared towards foodservice than retail than in the comparison period.» For additional info please read the company’s PDF file below (296 KB):