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"Kesko’s comparable operating profit improved and net sales increased in all three divisions in 2025. The full-year net sales amounted to €12,474.1 million and comparable operating profit to €654.9 million. In the latter half of the year, there was a turnaround in profit, as quarter-result improved in Q3 and growth continued in Q4. The successful execution of our updated growth strategy in all divisions has yielded results even in an operating environment that has continued to be challenging. Our cost control has also been effective. Our good ability to generate profit and financial position have enabled investments in growth, and we will continue strong growth investments also in upcoming years. Kesko’s Board of Directors proposes to the Annual General Meeting a dividend payment in line with the company’s dividend policy: €0.90 per share, or over €358 million in total, to be paid in four instalments.

Kesko’s Board proposes a dividend payment of €0.90 per share, over €358 million in total, in line with the company's dividend policy

Net sales for Kesko’s grocery trade division grew and totalled €6,447.7 million in 2025, with a comparable operating profit of €418.1 million.

Kesko’s objective in grocery trade is to strengthen its market position while maintaining good profitability. Both were achieved in 2025. Operating margin for the division stood at 6.5%. The market share development for K Group grocery stores was very close to the market trend for full-year 2025. A significant turn was seen in the summer, and our market share grew by 0.2 percentage points in July-December and by 0.5 percentage points in Q4 (source: Finnish Grocery Trade Association). The K-Citymarket chain gained market share in the hypermarket segment throughout 2025, and in the final quarter, all K Group grocery chains won over market share in their respective segments. Kesko’s strategic investments in the grocery store network and the price and quality levels of the stores are yielding results. The total grocery trade market also grew from the summer onwards. In the foodservice business, Kespro gained market share despite the 0.3% decrease in sales.

In the building and technical trade division, both net sales and comparable operating profit grew despite the weak cycle in new housing construction. Net sales for the division totalled €4,685.8 million, with a comparable operating profit of €178.6 million. The full-year 2025 profit improved in building and home improvement trade and was close to flat in technical trade, while in the final quarter, profit improved in both business areas. We strengthened market position for Davidsen in Denmark by acquiring three local building and home improvement trade operators in 2025: Roslev, Tømmergaarden and CF Petersen & Søn. Kesko’s biggest ever construction project, the joint Onninen and K-‍Auto logistics centre Onnela in Hyvinkää, Finland, was completed in 2025. Gradual recovery in the construction cycle continued throughout the year, but the pace of recovery in the latter half of the year was weaker than anticipated, especially in new housing construction. In the longer term, however, outlook for the building and technical trade division is positive. Strategic focus for the division is on securing growth and profitability and improving cash flow in each country and business.

Net sales for the car trade division in 2025 increased by 12% and totalled €1,364.8 million, with a comparable operating profit of €83.1 million. The division managed to improve its net sales and comparable operating profit significantly despite the fact that the car trade market in Finland continued to be challenging, as consumer confidence stayed weak and uncertainty regarding powertrain choices persisted. Net sales grew in new and used cars, car services, and sports trade. The strong product and service portfolio and significant transformation measures carried out within the division in recent years have resulted in improved sales and profitability. Kesko’s objective in car trade is to outperform the market in all business areas.

Our market position grew stronger in nearly all business areas in 2025. We estimate that both our operating environment and results will improve in 2026 in all divisions and operating countries. I want to thank all our customers, the people of K Group, our shareholders, and our partners for their trust and cooperation in 2025.

KEY FIGURES IN OCTOBER-DECEMBER 2025:

• Group net sales in October-December totalled €3,230.9 million (€3,040.6 million); reported net sales grew by 6.3% while comparable net sales grew by 3.1%

• Comparable operating profit totalled €174.6 million (€170.8 million), representing an increase of €3.8 million

• Operating profit totalled €160.1 million (€121.0 million)

• Cash flow from operating activities totalled €292.5 million (€301.0 million)

• Comparable earnings per share €0.28 (€0.31); reported earnings per share €0.25 (€0.19)

KEY FIGURES  IN JANUARY-DECEMBER 2025:

• Group net sales in January–December totalled €12,474.7 million (€11,920.1 million); reported net sales grew by 4.7%, while comparable net sales grew by 2.3%

• Comparable operating profit totalled €654.9 million (€650.1 million), representing an increase of €4.8 million

• Operating profit totalled €631.3 million (€579.5 million)

• Cash flow from operating activities totalled €879.7 million (€1,008.2 million)

• Comparable earnings per share €1.07 (€1.11); reported earnings per share €1.02 (€0.95)
  
  

> See the full 2025 financial statements release and presentation materials

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