”Kesko’s sales were at a good level in July, but down from the high level seen a year ago. Sales development was impacted by the lower number of delivery days in grocery trade and building and technical trade compared to the year before,” says Mikko Helander, Kesko’s President and CEO.
Sales in the grocery trade division totalled €504.7 million in July, down by 2.0%. Sales to K Group grocery stores decreased by 4.0% year-on-year. Sales in K-Citymarket’s home and speciality goods (non-food) increased. Kespro’s sales grew by 2.7%.
Sales in the building and technical trade division totalled €341.3 million in July, a decrease of 2.7% in comparable terms in local currencies. Excluding speciality goods trade, division sales decreased by 2.9% in comparable terms. Sales decreased in comparable terms by 3.2% in Finland, 1.4% in Sweden, and 11.8% in Norway. In speciality goods trade, leisure trade sales increased by 2.9% in comparable terms. Reported sales in the building and technical trade division decreased by 2.7%.
Sales in the car trade division totalled €77.2 million in July, a decrease of 15.2%. Sales were impacted by the poor availability of cars. Registrations of new cars were down by 25.2% in passenger cars and 17.7% in vans compared to the year before. The number of used cars sold in Finland decreased by 16.0% year-on-year.
Kesko Group's sales in July totalled €920.8 million, representing a decrease of 3.6% in comparable terms.
Kesko Group's sales in euros, excluding VAT, in July 2022:
|€ million||Change, %||change, %|
|Grocery trade, total||504.7||-2.0||-2.0|
|Building and technical trade, Finland||190.5||-3.8||-2.9|
|Building and technical trade, other countries||150.8||-1.3||-2.4|
|Building and technical trade, total||341.3||-2.7||-2.7|
|Car trade, total||77.2||-15.2||-15.2|
|Common functions and eliminations||-2.4|
|Other countries, total||150.8||-1.3||-2.4|
Kesko Group's sales in euros, excluding VAT, in January-July 2022:
|€ million||Change, %||change, %|
|Grocery trade, total||3,464.4||+2.7||+2.7|
|Building and technical trade, Finland||1,568.3||+11.7||+12.8|
|Building and technical trade, other countries||1,314.0||+12.1||+10.1|
|Building and technical trade, total||2,882.3||+11.9||+11.6|
|Car trade, total||517.7||-20.5||-20.5|
|Common functions and eliminations||-16.4|
|Other countries, total||1,314.0||+12.1||+10.1|
Change % indicates the change when compared to the corresponding period of the previous year. The comparable change % has been calculated in local currencies and excluding the impact of acquisitions and divestments completed in 2021 and 2022.
The reported sales for Kesko Group include the acquisitions and divestments completed in 2021 and 2022, in accordance with the dates of completion. In 2021, the building and technical trade division completed the acquisition of Byggarnas Partner and discontinued the operations of the Kookenkä shoe store chain. Acquisitions completed in 2022 comprise Kungälvs Trävaruaktiebolaget in Sweden and Seljord Elektriske AS in Norway.
In July 2022, the number of delivery days in Kesko’s grocery trade and in building and technical trade in Finland, Sweden and Norway was down by one year-on-year. In January-July, the number of delivery days equalled that of last year in both Kesko’s grocery trade and in building and technical trade in Finland and Norway. In Sweden, delivery days were down by one. Saturdays are wholesale delivery days in grocery trade, but not in building and technical trade. Under normal circumstances, one delivery day has an approximately 2-4% impact on Kesko’s wholesale, depending on the division. The number or timing of delivery days in car trade does not have a similar impact on sales.
Car trade market statistics by the Finnish Information Centre of Automobile Sector.
Kesko publishes advance information on the retail sales of K Group stores quarterly in connection with interim reports.
Further information is available from Hanna Jaakkola, Vice President, Investor Relations, tel. +358 105 323 540, and Eva Kaukinen, Vice President, Group Controller, tel. +358 105 322 338.
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