Future outlook 2019: Stock exchange release 18 March 2020

Stock exchange release 18 March 2020: Kesko Corporation issues a profit warning: Due to COVID-19 and global economic uncertainty, the company cancels its previous net sales guidance and changes its operating profit guidance

Kesko cancels the outlook statement regarding the net sales for continuing operations and changes the outlook statement regarding the comparable operating profit for continuing operations, both issued in connection with the Financial Statements release on 5 February 2020. Under the prevailing circumstances, the company estimates that the comparable operating profit for continuing operations in 2020 will amount to €400-450 million, thus falling somewhat short of the record comparable operating profit for 2019. The company does not issue a new guidance for net sales.

"Due to the COVID-19 coronavirus and global economic uncertainty, we estimate that we will fall somewhat short of the record operating profit of €461.6 million recorded in 2019. Grocery trade represents approximately half of Kesko's net sales and over 70 per cent of the result. We believe that consumer demand for food will remain good despite the exceptional circumstances. However, sales for the foodservice business are expected to decline. Under the current circumstances, it is difficult to provide assessments for sales and profitability in the building and technical trade and the car trade. We have initiated adjustment measures and they will continue, taking into consideration changes in the different divisions' businesses," says President and CEO Mikko Helander.


Archive of future outlooks

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

Financial statements release 2015
Interim report 1.1.-30.9.2015
Interim report 1.1.-30.6.2015
Interim report 1.1.-31.3.2015

Stock exchange release 16.3.2015

Financial statements release 2014
Interim report 1.1.-30.9.2014
Interim report 1.1.-30.6.2014
Interim report 1.1.-31.3.2014

Financial statements release 2013
Interim report 1.1.-30.9.2013
Interim report 1.1.-30.6.2013
Interim report 1.1.-31.3.2013

Financial statements release 2012
Interim report 1.1.-30.9.2012
Interim report 1.1.-30.6.2012
Interim report 1.1.-31.3.2012

Financial statements release 2011
Interim report 1.1.-30.9.2011
Interim report 1.1.-30.6.2011
Interim report 1.1.-31.3.2011

Financial statements release 2010
Interim report 1.1.-30.9.2010
Interim report 1.1.-30.6.2010
Interim report 1.1.-31.3.2010

Financial statements release 2009
Interim report 1.1.-30.9.2009
Interim report 1.1.-30.6.2009
Interim report 1.1.-31.3.2009

Financial statements release 2008
Interim report 1.1.-30.9.2008
Interim report 1.1.-30.6.2008
Interim report 1.1.-31.3.2008

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