Future outlook

29.10.2026

Interim financial report Q3/2026, published on 29 October 2026

Profit guidance for 2026 (specified)

Kesko Group’s profit guidance is given for the year 2026, in comparison with the year 2025. Kesko’s operating environment is estimated to improve in 2026, but to still remain somewhat challenging. Kesko’s comparable operating profit is estimated to improve in 2026. Kesko estimates that its 2026 comparable operating profit will amount to €690–‍730 million. Previously, the 2026 comparable operating profit was estimated to amount to €670–730 million. The profit guidance does not include impacts from the Dahl acquisition on the comparable operating profit. Key uncertainties impacting Kesko’s outlook are developments in consumer confidence and investment appetites, as well as geopolitical crises and tensions.

Outlook for 2027

The operating environment for Kesko is estimated to improve in 2027 in all divisions and all operating countries. Kesko’s net sales and comparable operating profit are also estimated to improve in all divisions and all operating countries.

In grocery trade, B2C trade is estimated to pick up slightly and the foodservice business to remain stable. In 2027, the comparable operating margin for the grocery trade division is estimated to continue to be clearly above 6% despite the investments in price and the store site network. The comparable operating profit for the grocery trade division is estimated to improve in 2027 compared to 2026.

In building and technical trade, the cycle has gradually improved, but it has remained muted in new housing construction. In 2027, the cycle is expected to continue to improve. The comparable operating profit for the building and technical trade division is estimated to improve in 2027 compared to 2026 in all Kesko operating countries. The division’s comparable operating profit is expected to improve even excluding the impact of the Dahl acquisition.

In the car trade market, demand for new cars is expected to pick up compared to 2026. The net sales and comparable operating profit for Kesko’s car trade are estimated to improve in 2027 compared to 2026.

Read the stock exchange release

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Financial statements release 2020
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