Future outlook

20.06.2024

Interim report Q1/2024, published on 25 April 2024

OUTLOOK AND 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 €620–700 million. Previously, the comparable operating profit was estimated to amount to €620-720 million. The operating profit guidance adjustment is related to the weaker-than-anticipated outlook for construction in 2024.

The profit guidance is 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.

In grocery trade, B2C trade and the foodservice market are expected to remain stable despite tightened price competition, and inflation is expected to slow down in 2024. Profitability in grocery trade is estimated to remain good also in 2024.

In building and technical trade, the market is expected to continue to decline in 2024. The economic cycle will have the biggest impact on new residential building, while the decline in other building construction, renovation building and infrastructure construction is expected to be smaller. The cycle is expected to turn in 2025. Profitability in building and technical trade is estimated to fall short of the 2023 level, but to still remain at a reasonably good level in 2024.

In car trade, new car sales are expected to fall short of the 2023 level. Sales of used cars and services are expected to grow. Profitability in car trade is estimated to still remain good in 2024, but to fall short of the 2023 level.

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Archive of future outlooks

Financial statements release 2023
Interim report 1.1.-30.9.2023
Half year financial report 2023
Interim report 1.1.-31.3.2023

Financial statements release 2022
Interim report 1.1.-30.9.2022
Half year financial report 2022
Interim report 1.1.-31.3.2022
Stock exchange release 25.4.2022

Financial statements release 2021
Interim report 1.1.-30.9.2021
Stock echange release 14.10.2021
Half year financial report 2021
Stock exchange release 14.6.2021
Interim report 1.1.-31.3.2021
Stock exchange release 15.4.2021

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
Stock exchange release 18.3.2020

Financial statements release 2019
Interim report 1.1.-30.9.2019
Half year financial report 2019
Interim report 1.1.-31.3.2019

Financial statements release 2018
Interim report 1.1.-30.9.2018
Half year financial report 2018
Interim report 1.1.-31.3.2018

Financial statements release 2017
Interim report 1.1.-30.9.2017
Half year financial report 2017
Interim report 1.1.-31.3.2017

Financial statements release 2016
Interim report 1.1.-30.9.2016
Half year financial report 2016
Stock exchange release 1.6.2016
Interim report 1.1.-31.3.2016
Stock exchange release 12.4.2016

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

Financial statements release 2014
Interim report 1.1.-30.9.2014
Interim report 1.1.-30.6.2014
Interim report 1.1.-31.3.2014