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Kesko’s net sales and profit grew in the third quarter of 2025. Net sales for the quarter totalled €3,227 million, up by 6.6% year-on-year, or by 3.5%. in comparable terms. Our comparable operating profit totalled €208 million, representing an increase of €6.5 million. Positive development was seen in all three divisions even though the market remained relatively challenging.

In the grocery trade division, net sales totalled €1,645 million and comparable operating profit €118 million. K Group grocery sales increased by 3.6%. Strong demand continued in online grocery, and sales there grew by 9.9%. Sales for the foodservice business decreased by 0.2% - sales development was close to market pace. Price inflation for groceries stood at 2.7%.

Our objective in grocery trade is to strengthen the market share of our grocery stores by focusing on quality, price and store network, while at the same time maintaining our good profitability. Results from our strategy execution measures have been promising: market share development for our grocery stores has strengthened over the course of this year, and in the hypermarket segment, the K-Citymarket chain won over market share in January-September. Customer flows have grown thanks to campaigns, but basic everyday purchases are also up. Although the grocery trade market remains price driven, we see signs of demand growing for higher quality products and services.

In the building and technical trade division, net sales increased and totalled €1,234 million. Comparable operating profit for the division totalled €72 million, representing an increase of €1.6 million. The joint venture Kesko Senukai reported its share of result, which totalled €7.5 million in the third quarter. Net sales grew in building and home improvement trade underpinned by acquisitions, while decreasing in comparable terms. Sales have picked up in Denmark, Poland and the Baltic countries in particular. Net sales for technical trade increased, but sales margin weakened despite the increase in sales due to price competition, which continued tight in a challenging market.

The gradual recovery in the construction cycle has continued, but new housing construction in particular was weaker than anticipated also in the third quarter. The biggest construction project in Kesko’s history, the joint Onninen and K-Auto logistics centre Onnela in Hyvinkää, Finland was completed in August, and came in clearly below the original cost estimate. The new centre will enable Onninen’s growth in the future.

In the car trade division, both net sales and profit grew significantly in the third quarter. Sales grew in all three car trade businesses, namely new cars, used cars, and services. We clearly outperformed the market in both new and used car sales. Net sales for the division grew by €60 million and totalled €355 million. The division’s comparable operating profit totalled €23 million, with a strong operating margin of 6.4%. In sports trade, sales and profit decreased, but our market share grew.

We are specifying our profit guidance, and now estimate that Kesko’s 2025 comparable operating profit will be in the range of €640–690 million.

In 2026, we estimate that Kesko’s operating environment and profit will improve in all divisions and all operating countries.

KESKO KEY FIGURES IN JUNE-SEPTEMBER 2025:

• Group net sales in July-September totalled €3,227.3 million (€3,026.6 million); reported net sales grew by 6.6% while comparable net sales grew by 3.5%

• Comparable operating profit totalled €208.1 million (€201.5 million); the comparable operating profit includes the share of result from Kesko Senukai for January-September, totalling €7.4 million, of which the share of result for July-September was €7.5 million (€4.8 million)

• Operating profit totalled €204.0 million (€202.1 million)

• Cash flow from operating activities totalled €287.7 million (€285.6 million)

• Comparable earnings per share €0.36 (€0.34); reported earnings per share €0.35 (€0.35)

KESKO KEY FIGURES IN JANUARY-SEPTEMBER 2025:

• Group net sales in January-September totalled €9,243.8 million (€8,879.5 million); reported net sales grew by 4.1%, while comparable net sales grew by 2.0%

• Comparable operating profit totalled €480.4 million (€479.3 million)
  Operating profit totalled €471.2 million (€458.5 million)

• Cash flow from operating activities totalled €587.1 million (€707.2 million)

• Comparable earnings per share €0.78 (€0.80); reported earnings per share €0.77 (€0.76)

See all Kesko Q3/2025 result presentation materials

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