Kesko Group: Announces H1-2023 Financial Results

Kesko / FI. (kkc) Strong performance in a challenging market accompanied Kesko Group’s first half of fiscal 2023. Group net sales in January to June totalled EUR 5,932.7 million (EUR 5,815.8 million). Comparable operating profit totalled EUR 333.5 million (EUR 379.7 million). Operating profit totalled EUR 328.9 million (EUR 382.9 million). Cash flow from operating activities totalled EUR 312.2 million (EUR 333.5 million).

President and CEO Mikko Helander: «In the grocery trade division, net sales grew by 4.7 percent to EUR 3,119 million (H1-2022: EUR 2,933 million) and profitability was at a good level. The division’s net sales totalled EUR 1,624.0 million and its comparable operating profit EUR 118.4 million. Grocery sales in K Group grocery stores were up by 4.6 percent: this fell short of the market, but less so than in the first months of the year. Campaigns and other marketing efforts have seen customer visits and sales in our grocery stores increase. K Group’s online grocery sales grew by 3.8 percent. The Norwegian Oda announced in the spring that it would be withdrawing from the Finnish online grocery market. Sales were also strong in Kespro’s foodservice business, where the 9.8 percent growth in net sales once again exceeded the market.» For additional information please read the company’s PDF file below (248 KB):