27 July 2024
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Market + Management

Kesko Group: Sales in 11M-2023 more ore less flat

Kesko / FI. (kkc) Sales of Finland’s Kesko Group totalled EUR 998.2 million in November 2023, representing a decrease of 3.5 percent. Group sales in the period from January to November 2023 are more or less unchanged at a nominal plus 0.4 percent. President and CEO Mikko Helander «Kesko’s sales decreased by 3.5 percent in November, or by 4.3 percent in comparable terms. Sales in the grocery trade division were flat year-on-year, impacted by the timing of wholesale deliveries to K Group grocery stores and slowing inflation. Sales in the building and technical trade division decreased as construction volumes weakened. Sales in the car trade division increased in all car trade business areas.»

  • Sales in the grocery trade division totalled EUR 537.1 million in November, an increase of 0.1 percent year-on-year. Grocery sales to K Group grocery stores decreased by 0.2 percent. Sales in K-Citymarket’s home and speciality goods (non-food) decreased year-on-year. Kespro’s sales increased by 5.4 percent.
  • Sales in the building and technical trade division totalled EUR 362.1 million in November, representing a decrease of 10.0 percent, or 12.4 percent in comparable terms. Sales in building and home improvement trade decreased by 15.2 percent in comparable terms. Sales in technical trade decreased by 1.7 percent, or by 10.2 percent in comparable terms. Sales decreased in comparable terms by 17.2 percent in Finland, 18.1 percent in Sweden, and 3.9 percent in Norway.
  • Sales in the car trade division totalled EUR 100.9 million in November, an increase of 2.3 percent. Car trade sales increased by 12.5 percent in comparable terms. Sports trade sales decreased by 22.0 percent.
  • Group sales in November 2023 totalled EUR 998.2 million, representing a decrease of 3.5 percent.

(Table: Kesko Group)20231215-KESKO-01-11-2023

Change percent indicates the change when compared to the corresponding period of the previous year. The comparable change percent has been calculated in local currencies and excluding the impact of acquisitions and divestments completed in 2022 and 2023.

The reported sales for Kesko Group include the acquisitions and divestments completed in 2022 and 2023, in accordance with the dates of completion. In 2022, Kesko completed the acquisitions of the Swedish Kungälvs Trävaruaktiebolag in March, Föllinge Såg AB and Djurbergs Järnhandel Aktiebolag in September, and XL-BYGG Bergslagen AB in October, as well as the acquisition of the Norwegian Seljord Elektriske AS in June. In 2023, Kesko has completed the acquisition of Elektroskandia Norge AS in Norway in March, Zenitec Sweden AB in Sweden in April, and Geitanger Bygg AS in Norway in October. At the end of March 2023, Kesko completed the divestment of its MAN business (trucks and buses).

Sports trade has been part of the car trade division as of 1 April 2023 onwards. Prior to that, sports trade was part of the building and technical trade division. In this release, sales for sports trade are included in the figures for the car trade division from the start of 2023 as well as for the comparison period.

The number of delivery days equalled that of the year before in November and January to November 2023 in Kesko’s grocery trade, Kespro and building and technical trade in Finland, Sweden and Norway. Saturdays are wholesale delivery days in grocery trade but not in Kespro or in building and technical trade. Under normal circumstances, one delivery day has an approximately two to four percent impact on Kesko’s wholesale, depending on the division. Kesko publishes advance information on the retail sales of K Group stores quarterly in connection with interim reports.


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