IR Blog: recap of Kesko’s key events in Q3/2023
Kesko will publish its Q3 interim report on Thursday, 26 October 2023, at around 8.00 am Finnish time. An English audiocast/teleconference for investors and analysts will be held at 9.00 am Finnish time.
Below is a recap of key events and investor materials for the quarter.
NEWS, FINANCIALS AND SHARES
Sales figures for September will be released in mid-October.
DIGITALISATION AND CUSTOMER EXPERIENCE
Kesko continues investing in updating its network of grocery store sites, upgrading existing stores and opening new ones. Hypermarkets have a crucial impact on the profitability and market share of Kesko’s grocery store business, and the company is set to open multiple new K-Citymarket hypermarkets in Finnish growth centres in upcoming years. (release)
One of the new hypermarkets will be located in Finland’s fourth largest city Vantaa in the Helsinki metropolitan area. The new 7,000 square-metre K-Citymarket is set to open in early spring 2026. (release)
BUILDING AND TECHNICAL TRADE
Kesko will expand building and home improvement trade operations to Denmark by acquiring 90% of Davidsen, the third biggest operator in the Danish building materials market. The total Danish market is estimated to amount to €5.7 billion, and Kesko aims to grow in Denmark both organically and via further acquisitions. (materials related to the acquisition and investor blog post with Q&A)
Kesko also acquired Geitanger Bygg AS in Norway’s second biggest city Bergen. (list of acquisitions and divestments)
Kesko will concentrate its building and home improvement trade operations in Sweden under the K-Bygg chain, and will increasingly focus on serving building professionals alongside consumers. (release)
Kesko expands its K-Lataus EV charging network further, focusing on high-power charging (HPC). The number of K-Lataus charging stations will grow to 300 by the end of this year, with 400 new HPC points. In the first half of 2023, the K-Lataus customer base grew by over 70%, and the amount of electricity charged was more than double that of full-year 2021. (release)