Kesko's Financial targets and achievements

07.02.2022

We achieved our financial targets in 2021. We aim continuously for better returns on capital employed and equity through growth, increased profitability, synergies and working capital efficiency. Alongside growth, we continue to focus on higher cost-efficiency in all our operations to ensure competitiveness.

Kesko’s financial targets

The new medium-term financial targets for profitability, as approved by Kesko’s Board of Directors (stock exchange release on 27 May 2021), are a comparable operating margin of over 6.0% and a comparable return on capital employed of over 14.5%. As for financial position, the Group continues to target a maximum interest-bearing net debt/EBITDA of 2.5, excluding the impact of IFRS 16. Kesko Group’s previous financial targets were a comparable operating margin of 5.5%, a comparable return on capital employed of 12.5%, and interest-bearing net debt/EBITDA of less than 2.5 excluding the impact of IFRS 16.

Indicator	Target (27.5.2021)	Previous target	Level achieved 2020	Level achieved 2021
Comparable operating margin, %	Over 6%	5.5%	5.3%	6.9%
Comparable return on capital employed, %	Over 14.5%	12.5%	12.0%	17.2%
Interest-bearing net debt/EBITDA, excluding the impact of IFRS 16	at maximum 2.5	at maximum 2.5	0.4	0.0

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