Future outlook

30.10.2025

Interim financial report 1-9/2025, published on 30 October 2025

Profit guidance for 2025 (specified)

Kesko Group’s profit guidance is given for the year 2025, in comparison with the year 2024. Kesko’s operating environment is estimated to improve in 2025, but to still remain somewhat challenging. Kesko’s comparable operating profit is estimated to improve in 2025. Kesko estimates that its 2025 comparable operating profit will amount to €640-690 million. Kesko previously estimated that the comparable operating profit would amount to €640-700 million.

The updated profit guidance is based on the results for 1-9/2025 and the slower-than-anticipated cycle recovery in building and technical trade in the third quarter. Key uncertainties impacting Kesko’s outlook are developments in consumer confidence and investment appetites, as well as geopolitical crises and tensions.

Outlook for 2026

The operating environment for Kesko is estimated to improve in 2026 in all divisions and all operating countries. Kesko’s comparable operating profit is also estimated to improve in 2026 in all divisions and all operating countries.

In grocery trade, B2C trade is estimated to pick up and the foodservice business to remain stable. In 2026, the comparable operating margin for the grocery trade division is estimated to stay clearly above 6% despite the investments in price and the store site network in line with Kesko’s strategy for 2024–2026. In 2026, the comparable operating profit for the grocery trade division is estimated to improve on 2025.

In building and technical trade, the cycle has not improved in 2025 as expected at the start of the year. In 2026, the cycle is expected to improve moderately from an exceptionally low level. In 2026, the comparable operating result for the building and technical trade division is estimated to improve on 2025 in all Kesko operating countries.

In the car trade market, new car sales are expected to remain muted compared to long-term levels, but to nonetheless grow compared to 2025. In 2026, the net sales and comparable operating profit for Kesko’s car trade division are estimated to improve on 2025.

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Archive of future outlooks

Half year financial report 2025
Interim report 1.1.-31.3.2025

Financial statements release 2024
Interim report 1.1.-30.9.2024
Half year financial report 2024
Interim report 1.1.-31.3.2024

Financial statements release 2023
Interim report 1.1.-30.9.2023
Half year financial report 2023
Interim report 1.1.-31.3.2023

Financial statements release 2022
Interim report 1.1.-30.9.2022
Half year financial report 2022
Interim report 1.1.-31.3.2022
Stock exchange release 25.4.2022

Financial statements release 2021
Interim report 1.1.-30.9.2021
Stock echange release 14.10.2021
Half year financial report 2021
Stock exchange release 14.6.2021
Interim report 1.1.-31.3.2021
Stock exchange release 15.4.2021

Financial statements release 2020
Interim report 1.1.-30.9.2020
Stock exchange release 17.9.2020
Half year financial report 2020
Stock exchange release 10.7.2020
Interim report 1.1.-31.3.2020
Stock exchange release 18.3.2020

Financial statements release 2019
Interim report 1.1.-30.9.2019
Half year financial report 2019
Interim report 1.1.-31.3.2019

Financial statements release 2018
Interim report 1.1.-30.9.2018
Half year financial report 2018
Interim report 1.1.-31.3.2018

Financial statements release 2017
Interim report 1.1.-30.9.2017
Half year financial report 2017
Interim report 1.1.-31.3.2017

Financial statements release 2016
Interim report 1.1.-30.9.2016
Half year financial report 2016
Stock exchange release 1.6.2016
Interim report 1.1.-31.3.2016
Stock exchange release 12.4.2016