Half-year financial report Q2/2023, published on 27 July 2023
OUTLOOK AND GUIDANCE FOR 2023 (SPECIFIED)
Kesko specifies the outlook and guidance first given in its financial statements release on 2 February 2023 and repeated in the first-quarter interim report on 28 April 2023.
Guidance is given for the year 2023, in comparison with the year 2022. Kesko now estimates that its comparable operating profit in 2023 will be €680-760 million. Before, the company estimated that its comparable operating profit would be in the range of €680-800 million.
The specified guidance is based on developments in the first half of the year, as well as updated estimates on weakened development in the construction market. Key uncertainties impacting Kesko’s outlook are developments in inflation and interest rate levels, and Russia’s ongoing offensive war in Ukraine.
In the grocery trade division, B2C trade is estimated to remain stable, and the foodservice market to grow. Inflation will increase sales, but also causes costs to rise. Operating profit is expected to remain at a good level.
In the building and technical trade division, the market is expected to decline compared to 2022. New building construction is estimated to decrease, but renovation building to grow slightly. Operating profit is expected to remain at a good level.
In the car trade division, car availability has improved, but orders for new cars are expected to remain below last year’s level. Demand for used cars and services is estimated to remain at a good level. Profitability is expected to remain good.
Archive of future outlooks
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