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"Kesko’s net sales grew in all divisions and profit improved in the second quarter of the year. The net sales totalled €3,379 million, up by 4.2% year-on-year in comparative terms. Profit growth was the strongest in the building and technical trade division, thanks in particular to good sales and profit performance in technical trade. The Q2 comparable operating profit totalled €194 million, representing an increase of €17.3 million. Cash flow from operating activities also strengthened.

In the grocery trade division, net sales grew and totalled €1,621 million, with a comparable operating profit of €110.6 million. The comparable operating profit decreased slightly by €0.7 million, as Kespro’s profit weakened by €2.2 million due to a challenging market. Kespro’s sales decreased by 0.6%, but still outperformed the market. K Group’s grocery sales increased by 4.3%, while the total grocery market grew by approximately 2% (Kesko's estimate, based on market figures by the Finnish Grocery Trade Association PTY). All our grocery store chains gained market share in their respective size segments in both Q2 and H1. Market share growth was the strongest in our K-‍Supermarket chain, which operates in the largest segment in Finnish grocery trade, i.e. supermarkets. K-‍Citymarket’s non-food sales grew by 4.4% and our market share in non-food increased. The long-term strategic investments we have made in our store quality, prices and network are yielding results.

In the building and technical trade division, net sales grew by 14.3% and totalled €1,413 million. The Q2 comparable operating profit grew by €20.3 million and totalled €71.2 million. Sales and profit grew particularly strongly in technical trade. Onninen Finland gained market share notably in the second quarter, but technical trade sales grew also in our other operating countries. Net sales for building and home improvement trade increased by 13.7% supported by acquisitions, and by 6.2% in comparative terms. B2B sales outperformed B2C sales in building and home improvement trade. Net sales grew in all operating countries in both technical trade and building and home improvement trade. The €5.4 million share of result from the joint venture Kesko Senukai also supported the division’s profitability. The gradual recovery in the construction cycle continued in all our operating countries. Market demand has picked up in, for example, industrial projects and infrastructure construction, but has remained muted in new housing construction.

In the car trade division, net sales totalled €353 million, up by €1 million. Net sales growth was driven in particular by used car sales, and service sales were also up. The comparable operating profit of €18.4 million represents a decrease of €3.2 million. The order book for new cars has grown by some 40% both year-on-year and since the beginning of this year. The order book is set to translate into sales during the latter half of the year. In sports trade, sales increased and profit was at last year’s level.

We announced the biggest acquisition in Kesko’s history in June: we are set to strengthen our technical trade operations by acquiring Dahl’s businesses in Sweden, Norway and Denmark from Saint-‍Gobain. The combined net sales of the businesses to be acquired totalled nearly €2.1 billion in 2025. Technical trade offers significant growth potential in the stable and affluent Nordic markets as construction becomes increasingly technical and infrastructure construction and renovation building continue to grow. The debt-free transaction price of €1.2 billion will initially be covered using bridge financing. Decisions regarding the final capital structure have not yet been made, and details are estimated to be determined during Q3. Competition authorities have begun their process, and the acquisition is expected to be finalised by the beginning of 2027.

We are updating our profit guidance, and now estimate that Kesko’s comparable operating profit for 2026 will amount to €670–730 million, while our previous estimate was €650–750 million. We estimate that Kesko’s operating environment, net sales, and profit will improve in all divisions and operating countries this year."

KEY FIGURES IN APRIL-JUNE 2026:

• Group net sales in April–June totalled €3,379.1 million (€3,188.8 million); reported net sales grew by 6.0% while in comparable terms, net sales grew by 4.2%

• Comparable operating profit totalled €194.0 million (€176.7 million), representing an increase of €17.3 million

• Operating profit totalled €191.0 million (€177.9 million)

• Cash flow from operating activities totalled €362.1 million (€323.9 million)

• Comparable earnings per share €0.32 (€0.29); reported earnings per share €0.32 (€0.29)
  
  

> See the Q2/2026 interim report and presentation materials

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