“In January, Kesko’s sales decreased by 0.8%, or by 2.1% in comparable terms. Sales increased in grocery trade, but decreased in building and technical trade and car trade,” says Jorma Rauhala, Kesko’s President and CEO.
Sales in the grocery trade division totalled €500.8 million in January, up by 3.7%. Sales to K Group grocery stores increased by 3.2%. Sales in K-Citymarket’s home and speciality goods (non-food) decreased. Kespro’s sales increased by 4.9%, impacted by the month having one more delivery day in year-on-year comparison.
Sales in the building and technical trade division totalled €299.6 million in January, down by 6.8%, or by 11.0% in comparable terms. Sales in building and home improvement trade decreased by 14.5% in comparable terms. Sales in technical trade increased by 0.7%, but decreased by 7.9% in comparable terms. Sales in comparable terms decreased by 14.7% in Finland, 14.9% in Sweden, and 4.4% in Norway. The number of delivery days was up by one year-on-year in Finland and Sweden.
Sales in the car trade division totalled €96.3 million in January, a decrease of 3.3%. Car trade sales increased by 2.2% in comparable terms, while sports trade sales decreased by 21.0%.
Kesko Group’s sales in January 2024 totalled €894.8 million, representing a decrease of 0.8%.
Kesko Group sales in euros, excluding VAT, in January 2024:
| January 2024 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 406.4 | +3.4 | +3.4 |
| Kespro | 94.4 | +4.9 | +4.9 |
| Grocery trade, total | 500.8 | +3.7 | +3.7 |
| Building and home improvement trade | 122.7 | -15.9 | -14.5 |
| Technical trade | 182.0 | +0.7 | -7.9 |
| Building and technical trade, total | 299.6 | -6.8 | -11.0 |
| Car trade | 83.7 | +0.0 | +2.2 |
| Sports trade | 12.6 | -21.0 | -21.0 |
| Car trade, total | 96.3 | -3.3 | -1.6 |
| Common functions and eliminations | -1.9 | ||
| Grand total | 894.8 | -0.8 | -2.1 |
| Finland, total | 742.5 | -1.4 | -1.2 |
| Other countries, total | 152.3 | +2.5 | -6.7 |
| Grand total | 894.8 | -0.8 | -2.1 |
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 also 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).
Sports trade has been part of the car trade division from 1 April 2023 onwards. Prior to that, it 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.
The number of delivery days in Kesko’s grocery trade in January 2024 equalled that of the year before. The number of delivery days for Kespro and building and technical trade in Finland and Sweden was up by 1 year-on-year in January, while in building and technical trade in Norway the number of delivery days was flat year-on-year. 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% 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.
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.
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