K-ryhmä: Kesko's sales in September

"Kesko's sales grew by 1.9% in September. Sales increased in grocery trade and in building and technical trade. In the latter, sales in building and home improvement trade increased due to the Davidsen acquisition. Sales in car trade decreased. The number of delivery days in September was down by one year-on-year in grocery trade, and flat in Kespro and building and technical trade," says Jorma Rauhala, Kesko's President and CEO.

Sales in the grocery trade division totalled €526.3 million in September, up by 0.2%. Sales to K Group grocery stores were flat year-on-year. Sales in K-Citymarket's home and speciality goods trade (non-food) decreased. Kespro's sales increased by 2.6%.

Sales in the building and technical trade division totalled €418.1 million in September, up by 6.2%, but down by 3.6% in comparable terms. Sales in building and home improvement trade increased by 18.5%, but decreased by 4.0% in comparable terms. Sales in technical trade decreased by 2.9% in comparable terms. In comparable terms, sales decreased by 1.5% in Finland, by 5.9% in Sweden, and by 5.8% in Norway. Sales performance in Sweden was impacted by the closure of K-Rauta stores. The sales figures of the Danish Davidsen have been consolidated into the figures of Kesko's building and technical trade division from 1 February 2024 onwards.

Sales in the car trade division totalled €100.7 million in September, a decrease of 5.5%. Car trade sales decreased by 6.1% in comparable terms; sales decreased in new cars and services, and increased in used cars. Sports trade sales decreased by 2.2%. 

Kesko Group sales in September 2024 totalled €1,043.0 million, representing an increase of 1.9%.

Kesko Group sales in euros, excluding VAT, in September 2024:

September 2024 Comparable
€ million Change, % change, %
Grocery sales to K Group grocery 426.1 -0.4 -0.5
stores and non-food sales, total
Kespro 100.2 +2.6 +2.6
Grocery trade, total 526.3 +0.2 +0.1
Building and home improvement 205.3 +18.5 -4.0
trade
Technical trade 219.3 -3.1 -2.9
Building and technical trade, 418.1 +6.2 -3.6
total
Car trade 83.1 -6.2 -6.1
Sports trade 17.6 -2.2 -2.2
Car trade, total 100.7 -5.5 -5.5
Common functions and -2.1
eliminations
Grand total 1,043.0 +1.9 -2.0

Finland, total 808.5 -1.0 -1.0
Other countries, total 234.5 +13.0 -5.5
Grand total 1,043.0 +1.9 -2.0

Kesko Group sales in euros, excluding VAT, in July- September 2024:

 
1.7.-30.9.2024 Comparable
€ million Change, % change, %
Grocery sales to K Group grocery 1,318.4 +0.4 +0.4
stores and non-food sales, total
Kespro 314.0 +3.3 +3.3
Grocery trade, total 1,632.4 +1.0 +0.9
Building and home improvement 588.1 +18.6 -2.6
trade
Technical trade 596.2 -1.9 -1.4
Building and technical trade, 1,166.5 +7.3 -2.1
total
Car trade 251.6 -6.2 -6.2
Sports trade 45.8 +0.3 +0.3
Car trade, total 297.4 -5.2 -5.2
Common functions and -5.9
eliminations
Grand total 3,090.3 +2.6 -0.8

Finland, total 2,459.5 -0.2 -0.2
Other countries, total 630.8 +15.2 -3.5
Grand total 3,090.3 +2.6 -0.8

Kesko Group sales in euros, excluding VAT, in January-September 2024:

1.1.-30.9.2024 Comparable
€ million Change, % change, %
Grocery sales to K Group grocery 3,885.9 +0.1 +0.1
stores and non-food sales, total
Kespro 898.9 +0.8 +0.8
Grocery trade, total 4,784.8 +0.3 +0.2
Building and home improvement 1,715.9 +10.2 -7.8
trade
Technical trade 1,740.7 -4.5 -6.5
Building and technical trade, 3,406.8 +2.3 -7.2
total
Car trade 764.2 -8.8 -8.2
Sports trade 123.5 -9.3 -9.3
Car trade, total 887.6 -8.9 -8.3
Common functions and -17.1
eliminations
Grand total 9,062.1 +0.0 -3.4

Finland, total 7,222.2 -2.9 -2.8
Other countries, total 1,839.9 +13.5 -6.0
Grand total 9,062.1 +0.0 -3.4

Change % indicates the change when compared to the corresponding period of the previous year. The comparable change % has been calculated in local currencies and excluding the impact of acquisitions and divestments completed in 2023 and 2024. In addition, the calculation of comparable sales takes into account the minor change in the business model of technical trade in Norway.

The reported sales for Kesko Group include the acquisitions and divestments completed in 2023 and 2024 in accordance with the dates of completion. In 2023, Kesko 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). In February 2024 and in June 2024, the business operations of individual Neste K service stations were transferred to Kesko. In August 2024, the business operations of four additional Neste K stations were transferred to Kesko. As of 1 February 2024, Davidsen Koncernen A/S in Denmark has been part of Kesko. The acquisition of Autotalo Lohja in Finland was completed on 1 September 2024.

In September 2024, the number of delivery days was down by 1 year-on-year in Kesko's grocery trade, and flat in Kespro and in building and technical trade in Finland, Sweden, Norway and Denmark. In July-September, the number of delivery days was flat year-on-year in grocery trade, and up by 1 in Kespro and in building and technical trade in Finland, Sweden, Norway and Denmark. In January-September, the number of delivery days was flat year-on-year in grocery trade and in building and technical trade in Norway, and up by 1 in Kespro and in building and technical trade in Finland, Sweden and Denmark.

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 2-4 percentage point impact on Kesko's wholesale, depending on the division. In the car trade service business, one delivery day has an approximately 2-4 percentage point impact on sales, while delivery days do not have a marked impact on new and used car sales.

Kesko publishes advance information on the retail sales of K Group stores quarterly in connection with interim reports.
 

Further information is available from Hanna Jaakkola, Vice President, Investor Relations, tel. +358 105 323 540, and Eva Kaukinen, Vice President, Group Controller, tel. +358 105 322 338.

Kesko Corporation

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