Future outlook: Stock exchange release 15.4.2021

Stock exchange release 15 April 2021: Kesko Corporation issues a positive profit warning and provides preliminary information on its first-quarter net sales and comparable operating profit

Kesko raises its guidance for its comparable operating profit in 2021. The company now estimates that its comparable operating profit in 2021 will be in the range of €570-670 million. Before, the company estimated that the comparable operating profit would be in the range of €520-620 million. The guidance upgrade is based on better-than-anticipated sales development in all divisions and a more positive outlook for the remainder of the year. The illustrative comparable operating profit in 2020 was €554 million.

Kesko's net sales for the first quarter of 2021 totalled approximately €2,539 million and its comparable operating profit approximately €116 million. The illustrative net sales for the first quarter of 2020 totalled €2,356 million and the illustrative comparable operating profit €64.6 million.

In the first quarter, net sales and comparable operating profit grew in all divisions. The figures are based on preliminary unaudited information. Kesko will publish its first-quarter interim report on 28 April 2021.

Guidance upgrade rationale

Retail sales have continued strong in the grocery trade, while the foodservice business has remained profitable despite the difficult market situation. In the building and technical trade, growth has continued better than anticipated in both B2B and B2C trade. Car trade has also grown compared to last year. At the same time, Kesko has managed to further improve cost efficiency. Expectations for the grocery trade and building and technical trade regarding the remainder of the year are more positive than before.

It is still difficult to anticipate the impacts of the Covid-19 pandemic, and consequently the range for the 2021 comparable operating profit guidance remains wide.


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

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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