Kesko Group: Sales in Q1-2023 totalled 2884 million euros

Kesko / FI. (kkc) Kesko Group’s sales in March 2023 totalled EUR 1,100.5 million, representing an increase of 0.4 percent in comparable terms. «Sales in March grew in grocery trade and car trade. In grocery trade, sales growth was particularly strong in Kespro. Easter this year was one week earlier than last year, which had a positive impact on sales in grocery trade. Sales in building and technical trade declined markedly compared to March 2022, when the Russian attack on Ukraine led to hoarding and exceptionally high sales. In car trade, sales rose to an all-time high,» says Kesko’s President and CEO Mikko Helander.

Sales in the grocery trade division totalled EUR 560.7 million in March, an increase of 7.3 percent. Grocery sales to K Group grocery stores increased by 5.7 percent year-on-year. Sales in K-Citymarket’s home and speciality goods (non-food) increased. Kespro’s sales grew by 14.7 percent.

Sales in the building and technical trade division totalled EUR 440.2 million in March, a decrease of 12.1 percent in comparable terms in local currencies. Excluding sports trade, division sales decreased by 12.5 percent in comparable terms. Sales decreased in comparable terms by 9.0 percent in Finland, 15.8 percent in Sweden, and 16.2 percent in Norway. Sports trade sales decreased by 3.2 percent. Reported sales in the building and technical trade division decreased by 10.0 percent.

Sales in the car trade division totalled EUR 102.1 million in March, an increase of 32.8 percent. In March, new car registrations in Finland were up by 2.1 percent in passenger cars and down by 13.3 percent in vans compared to March 2022. The number of used passenger cars sold in Finland increased 3.3 percent y-o-y.

Kesko Group’s sales in March 2023 totalled EUR 1,100.5 million, up 0.4 percent in comparable terms.

Kesko Group’s sales in euros, excluding VAT, in March 2023

	March 2023		Comparable
	mio.EUR	Change	Change
Grocery trade, total	560.7	+7.3%	+7.3%
Building and technical trade, Finland	242.7	-8.4%	-8.4%
Building and technical trade, other countries	197.5	-11.8%	-16.4%
Building and technical trade, total	440.2	-10.0%	-12.1%
Car trade, total	102.1	+32.8%	+32.8%
Common functions and eliminations	-2.5
Grand total	1,100.5	+1.4%	+0.4%
Finland, total	903.0	+4.8%	+4.8%
Other countries, total	197.5	-11.8%	-16.4%
Grand total	1,100.5	+1.4%	+0.4%

Kesko Group’s sales in euros, excluding VAT, in Q1-2023

	January 01 to March 31, 2023		Comparable
	mio.EUR	Change	Change
Grocery trade, total	1,512.8	+8.4%	+8.4%
Building and technical trade, Finland	619.8	-2.2%	-2.2%
Building and technical trade, other countries	491.9	-7.1%	-7.1%
Building and technical trade, total	1,111.7	-4.4%	-4.4%
Car trade, total	266.2	+26.9%	+26.9%
Common functions and eliminations	-6.7
Grand total	2,884.0	+4.4%	+4.5%
Finland, total	2,392.2	+7.2%	+7.2%
Other countries, total	491.9	-7.1%	-7.1%
Grand total	2,884.0	+4.4%	+4.5%

Change percent indicates the change when compared to the corresponding period of the previous year. The comparable change percent 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 completed the acquisition of Elektroskandia Norge AS in Norway in March.

The number of delivery days was flat year-on-year in March in Kesko’s grocery trade and in building and technical trade in Finland, Sweden and Norway. The number of delivery days in January-March 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 to 4 percent 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.