”Sales in February grew in the grocery trade and car trade divisions. In grocery trade, sales growth was particularly strong in Kespro. In the building and technical trade division, sales increased in technical wholesale and decreased in building and home improvement trade. In the car trade division, sales clearly outperformed the market,” says Kesko’s President and CEO Mikko Helander.
Sales in the grocery trade division totalled €469.0 million in February, an increase of 6.1%. Grocery sales to K Group grocery stores increased by 1.5% year-on-year. Sales in K-Citymarket’s home and speciality goods (non-food) increased. Kespro’s sales grew by 29.4%, in part due to the fact that the comparison period was impacted by pandemic-related restrictions on restaurants.
Sales in the building and technical trade division totalled €334.3 million in February, a decrease of 2.7% in comparable terms in local currencies. Excluding speciality goods trade, division sales decreased by 3.3% in comparable terms. Sales decreased in comparable terms by 3.7% in Finland, 6.5% in Sweden, and 1.9% in Norway. Sports trade sales grew by 12.1%. Reported sales in the building and technical trade division decreased by 4.3%.
Sales in the car trade division totalled €80.4 million in February, an increase of 28.5%. In February, new car registrations in Finland were down by 3.0% in passenger cars and 16.3% in vans compared to the year before. The number of used cars sold in Finland increased by 1.5% year-on-year.
Kesko Group's sales in February totalled €881.7 million, representing an increase of 4.1% in comparable terms.
Kesko Group's sales in euros, excluding VAT, in February 2023:
|€ million||Change, %||change, %|
|Grocery trade, total||469.0||+6.1||+6.1|
|Building and technical trade, Finland||188.5||-2.6||-2.6|
|Building and technical trade, other countries||145.8||-6.4||-2.8|
|Building and technical trade, total||334.3||-4.3||-2.7|
|Car trade, total||80.4||+28.5||+28.5|
|Common functions and eliminations||-2.0|
|Other countries, total||145.8||-6.4||-2.8|
Kesko Group's sales in euros, excluding VAT, in January-February 2023:
|€ million||Change, %||change, %|
|Grocery trade, total||952.1||+9.1||+9.1|
|Building and technical trade, Finland||377.2||+2.3||+2.3|
|Building and technical trade, other countries||294.4||-3.7||-0.2|
|Building and technical trade, total||671.6||-0.4||+1.2|
|Car trade, total||164.1||+23.5||+23.5|
|Common functions and eliminations||-4.2|
|Other countries, total||294.4||-3.7||-0.2|
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 2022.
The reported sales for Kesko Group include the acquisitions and divestments completed in 2022, in accordance with the dates of completion. In 2022, Kesko completed the acquisitions of the Swedish Kungälvs Trävaruaktiebolag in March, Föllinge Såg AB and Djurbergs Järnhandel Aktiebolag in September, and XL-BYGG Bergslagen AB in October, as well as the acquisition of the Norwegian Seljord Elektriske AS in June.
The number of delivery days was flat year-on-year in February in Kesko’s grocery trade and in building and technical trade in Finland, Sweden and Norway. The number of delivery days in January-February 2023 was up by one year-on-year in Kesko’s grocery trade and building and technical trade in Finland, Sweden and Norway. 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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