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"In the first quarter of 2026, Kesko’s profit improved and net sales grew in all divisions. Kesko’s Q1 net sales totalled €3,029 million. Net sales grew by 4.6% in comparable terms year-on-year. Kesko’s comparable operating profit amounted to €102 million, and grew by €6.5 million. Cash flow from operating activities grew markedly stronger thanks, in particular, to good working capital management. All three divisions showed positive development even though the market remained relatively challenging. The crisis in the Middle East does not have a significant impact on Kesko’s operations in the short term, but a prolonged situation could result in weakened consumer confidence, purchasing power and corporate investments as well as higher costs.

In the grocery trade division, our long-term strategic efforts focused on quality, price, and the store site network yielded results. For the first time since the pandemic, the division saw growth on all three fronts: net sales, profit, and market share. Net sales for the division grew by €72 million and totalled €1,558 million. The comparable operating profit for the division totalled €78.4 million, up by €5.5 million. The market share for K Group grocery stores took an upturn in the summer of 2025, and the positive trend has continued in 2026: our grocery store chains all won over market share in Q1 in their respective size segments. K Group grocery sales grew by 4.4% against a total market growth of 2.9%. Customer flows and average purchase also grew. Although price plays a significant role in the grocery trade market, demand for quality products and services has increased. Net sales for the foodservice business decreased by 0.6%, but Kespro continued to gain market share.

In the building and technical trade division, net sales grew by €114 million and totalled €1,147 million. The division’s comparable operating profit amounted to €14.5 million, up by €2.8 million. Net sales for building and home improvement trade increased by 16.9% underpinned by acquisitions, or by 3.3% in comparable terms. K-Rauta’s comparable operating profit in Finland decreased slightly, but remained at a good level.  In technical trade, comparable operating result improved in all operating countries, and net sales grew. In Finland, Onninen gained market share markedly in the first quarter. Gradual recovery in the construction cycle has continued in all our operating countries.

In the car trade division, net sales totalled €331 million. Net sales grew by €17 million year-on-year, driven in particular by used car sales. The comparable operating profit totalled €16.1 million, down by €1.8 million. The division gained market share in both new and used cars, and service sales increased. The order book for new cars grew due, in particular, to interesting new models. In sports trade, sales and profit grew and market share improved.

We repeat our profit guidance and estimate that the comparable operating profit for 2026 will amount to €650–750 million. We estimate that the operating environment, net sales and profit will improve in all divisions and all operating countries in 2026.

KEY FIGURES  IN JANUARY-MARCH 2026:

• Group net sales in January-March totalled €3,029.0 million (€2,827.7 million); reported net sales grew by 7.1% while in comparable terms, net sales grew by 4.6%

• Comparable operating profit totalled €102.0 million (€95.6 million), representing an increase of €6.5 million

• Operating profit totalled €96.6 million (€89.4 million)

• Cash flow from operating activities totalled €77.7 million (€-24.5 million)

• Comparable earnings per share €0.14 (€0.13); reported earnings per share €0.13 (€0.12)
  
  

> See the Q1/2026 interim report and presentation materials

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