Half year financial report 2021, published on 23 July 2021
OUTLOOK AND GUIDANCE FOR 2021
Kesko Group’s outlook is given for the year 2021, in comparison with the year 2020.
Kesko estimates that its comparable operating profit in 2021 will be in the range of €650-750 million.
The company issued a stock exchange release on 14 June 2021 and raised its profit guidance. Before, the company estimated that its comparable operating profit would be in the range of €570-670 million. In 2020, Kesko’s illustrative comparable operating profit totalled €554 million.
The guidance upgrade was based on better-than-anticipated sales growth and profit development especially in the building and technical trade division, and the division’s more positive outlook for the remainder of the year.
Growth in the building and technical trade division has continued better than anticipated in both B2B trade and B2C trade in all operating countries. The division is also positively impacted by the continued strengthening of the market and general rise in prices.
In the grocery trade division, retail sales have developed well while Kespro’s foodservice business has clearly strengthened compared to the year before. In the car trade division, growth in sales and improvement in operational efficiency are proceeding as planned.
Expectations regarding the remainder of the year are more positive than before, especially in the building and technical trade. The outlook for the remainder of the year is more positive also in the grocery trade and car trade.
Due to various uncertainties, the guidance range for the 2021 comparable operating profit remains wide. Especially factors such as consumption predictability, product availability, price inflation and the duration of the pandemic make estimates for the remainder of the year more difficult.
Archive of future outlooks
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