Kesko’s 2023 Annual Report has been published
Kesko’s sales in April
Kesko Group's sales in April 2023 totalled €964.4 million, representing a decrease of 3.8% in comparable terms.
”Sales in April grew in the grocery trade and car trade divisions. Sales in grocery trade were negatively impacted by the timing of Easter deliveries, which partly took place in March. In building and technical trade, sales decreased as construction activity declined. In addition, sales in both grocery trade and building and technical trade were negatively impacted by April having one delivery day less this year than the year before. Sales in car trade increased clearly in all business areas,” says Kesko’s President and CEO Mikko Helander.
Sales in the grocery trade division totalled €508.9 million in April, an increase of 2.5%. Grocery sales to K Group grocery stores increased by 1.0% year-on-year. Sales in K-Citymarket’s home and speciality goods (non-food) increased. Kespro’s sales grew by 8.0%.
Sales in the building and technical trade division totalled €344.7 million in April, a decrease of 18.3% in comparable terms in local currencies. Sales in building and home improvement trade decreased by 25.2% in comparable terms. Onninen’s sales decreased by 9.8% in comparable terms. Sales decreased in comparable terms by 19.7% in Finland, 23.2% in Sweden, and 15.1% in Norway. Reported sales in the building and technical trade division decreased by 17.3%.
Sales in the car trade division totalled €112.8 million in April, an increase of 28.7%. Sports trade has been part of the division from 1 April 2023 onwards. Prior to that, sports trade was part of the building and technical trade division. Car trade sales grew by 46.7% in comparable terms. Registrations of new cars in Finland were up by 13.6% in passenger cars and by 2.2% in vans compared to the year before. The number of used passenger cars sold in Finland increased by 2.3% year-on-year. Sports trade sales decreased by 20.6%
Kesko Group's sales in April 2023 totalled €964.4 million, representing a decrease of 3.8% in comparable terms.
Kesko Group's sales in euros, excluding VAT, in April 2023:
| April 2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 416.0 | +1.3 | +1.3 |
| Kespro | 92.9 | +8.0 | +8.0 |
| Grocery trade, total | 508.9 | +2.5 | +2.5 |
| Building & home improvement trade | 165.5 | -29.3 | -25.2 |
| Onninen | 184.9 | -2.7 | -9.8 |
| Building and technical trade, total | 344.7 | -17.3 | -18.3 |
| Car trade | 97.7 | +42.3 | +46.7 |
| Sports trade | 15.1 | -20.6 | -20.6 |
| Car trade, total | 112.8 | +28.7 | +28.7 |
| Common functions and eliminations | -1.9 | ||
| Grand total | 964.4 | -3.4 | -3.8 |
| Finland, total | 799.6 | -0.8 | -0.8 |
| Other countries, total | 164.8 | -14.5 | -16.6 |
| Grand total | 964.4 | -3.4 | -3.8 |
Kesko Group's sales in euros, excluding VAT, in January-April 2023:
| 1.1.-30.4.2023 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 1,643.5 | +3.7 | +3.7 |
| Kespro | 378.3 | +23.0 | +23.0 |
| Grocery trade, total | 2,021.7 | +6.9 | +6.9 |
| Building & home improvement trade | 657.9 | -19.9 | -17.4 |
| Onninen | 768.7 | +5.6 | +2.4 |
| Building and technical trade, total | 1,403.3 | -8.0 | -8.2 |
| Car trade | 363.9 | +30.7 | +31.7 |
| Sports trade | 68.1 | -7.3 | -7.3 |
| Car trade, total | 432.0 | +22.8 | +22.8 |
| Common functions and eliminations | -8.6 | ||
| Grand total | 3,848.5 | +2.4 | +2.3 |
| Finland, total | 3,191.8 | +5.1 | +5.1 |
| Other countries, total | 656.7 | -9.1 | -9.6 |
| Grand total | 3,848.5 | +2.4 | +2.3 |
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 and 2023.
The reported sales for Kesko Group include the acquisitions and divestments completed in 2022 and 2023, 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. In 2023, Kesko has completed the acquisition of Elektroskandia Norge AS in Norway in March, and Zenitec Sweden AB in Sweden in April. At the end of March, Kesko completed the divestment of its MAN business (trucks and buses).
The number of delivery days in April 2023 was down by 1 year-on-year in Kesko’s grocery trade and in building and technical trade in Finland, Sweden and Norway. In January-April, the number of delivery days equalled that of last year in both 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.
Car trade market statistics by the Finnish Information Centre of Automobile Sector.
Kesko publishes advance information on the retail sales of K Group’s stores quarterly in connection with interim reports.
Comparison figures for Kesko Group’s sales under the new segment structure in 1.1.2022-31.3.2023
Kesko Group's sales in euros, excluding VAT, in 2022:
| € million | Grocery trade | Building and technical trade | Car trade | Common functions and eliminations | Total |
| January | 430.7 | 306.5 | 88.8 | -2.6 | 823.4 |
| February | 442.3 | 334.4 | 77.5 | -2.0 | 852.1 |
| March | 522.4 | 467.8 | 97.9 | -2.3 | 1,085.8 |
| April | 496.6 | 416.7 | 87.7 | -2.3 | 998.7 |
| May | 516.2 | 465.6 | 99.6 | -2.2 | 1,079.2 |
| June | 551.5 | 446.6 | 92.5 | -2.5 | 1,088.1 |
| July | 504.7 | 326.5 | 92.0 | -2.4 | 920.8 |
| August | 548.6 | 411.4 | 105.9 | -3.5 | 1,062.4 |
| September | 536.4 | 451.9 | 101.0 | -3.2 | 1,086.1 |
| October | 523.4 | 417.6 | 100.9 | -2.8 | 1,039.0 |
| November | 536.6 | 402.1 | 98.6 | -2.5 | 1,034.8 |
| December | 578.7 | 296.6 | 96.1 | -3.3 | 968.2 |
Kesko Group's sales in euros, excluding VAT, in 2023:
| € million | Grocery trade | Building and technical trade | Car trade | Common functions and eliminations | Total |
| January | 483.1 | 321.3 | 99.7 | -2.2 | 901.8 |
| February | 469.0 | 317.5 | 97.1 | -2.0 | 881.7 |
| March | 560.7 | 419.8 | 122.5 | -2.5 | 1,100.5 |
Comparison figures in line with the new segment structure will be published before the end of May.
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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