Future outlook

30.10.2024

Interim financial report 1-9/2024, published on 30 October 2024

Profit guidance for 2024 (specified)

Kesko Group’s profit guidance is given for the year 2024, in comparison with the year 2023. Kesko’s operating environment is estimated to remain challenging in 2024. Kesko’s net sales and operating profit are estimated to remain at a good level in 2024 despite the challenges in the company’s operating environment. Kesko estimates that its comparable operating profit in 2024 will amount to €630–680 million. Previously, the comparable operating profit was estimated to amount to €620-680 million. The profit guidance specification is based on third-quarter profit development in building and technical trade.

The profit guidance and outlook are based on an estimate of a relatively short recession in Kesko’s operating countries. Key uncertainties impacting Kesko’s outlook are developments in inflation and interest rate levels, and geopolitical crises and tensions.

Outlook for 2025

Kesko’s operating environment is estimated to improve in 2025, and Kesko’s comparable operating profit is also estimated to improve in 2025.

In grocery trade, B2C trade and the foodservice market are estimated to remain stable. In 2025, the comparable operating margin for the grocery trade division is estimated to stay clearly above 6% despite the investments in price and the store site network in accordance with Kesko’s strategy for 2024-2026.

In building and technical trade, the cycle is expected to improve in 2025 from the historically low levels. Profitability in the building and technical trade division is estimated to improve on 2024.

In car trade, new car orders are expected to stay at a low level in 2025. Demand for used cars and services is estimated to remain good. Profitability for the car trade division is estimated to remain at a good level in 2025 despite weak demand for new cars.

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Archive of future outlooks

Half year financial report 2024
Interim report 1.1.-31.3.2024

Financial statements release 2023
Interim report 1.1.-30.9.2023
Half year financial report 2023
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Financial statements release 2022
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Half year financial report 2022
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Financial statements release 2021
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Stock echange release 14.10.2021
Half year financial report 2021
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Financial statements release 2020
Interim report 1.1.-30.9.2020
Stock exchange release 17.9.2020
Half year financial report 2020
Stock exchange release 10.7.2020
Interim report 1.1.-31.3.2020
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Financial statements release 2019
Interim report 1.1.-30.9.2019
Half year financial report 2019
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Financial statements release 2018
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Half year financial report 2018
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Financial statements release 2017
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Half year financial report 2017
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Financial statements release 2016
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Half year financial report 2016
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Financial statements release 2015
Interim report 1.1.-30.9.2015
Interim report 1.1.-30.6.2015
Interim report 1.1.-31.3.2015
Stock exchange release 16.3.2015