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Kesko will publish its Q2 interim report on Tuesday, 23 July 2024, at around 8.00 am Finnish time. An English audiocast/teleconference for investors and analysts will be held at 9.00 am Finnish time, and can be accessed here.

Below is a recap of key events and news for the quarter. 

NEWS, FINANCIALS AND SHARES

• Growth strategy updated:  

  • The main pillars of Kesko’s strategy remain intact, with profitable growth in three selected divisions – grocery trade, building and technical trade, and car trade – at the core. Each division’s competitive advantages and objectives were refined. (release) 

  • Kesko hosted a briefing on the updated strategy for investors, analysts and the media on 4 June 2024, with presentations by the President and CEO and the CFO as well as all three division heads. See the event site (with webcast recording and presentations) and blog post.  

• Changes in Group Management Board: 

• • Anu Hämäläinen was appointed as Kesko’s new Chief Financial Officer as of 1 June 2024. Hämäläinen first joined Kesko in 2020 as Vice President, Group Finance and Treasury. Kesko’s previous CFO Jukka Erlund announced earlier this year that he would be leaving the company. (release)

  • Lasse Luukkainen was appointed as Executive Vice President, Legal and Sustainability as of 1 June 2024. Luukkainen has held various legal positions in Kesko since 2010, most recently that of Group General Counsel. (release)

  • Johanna Ali was appointed as the President of Kesko’s car trade division as of 4 June 2024, having held the position in an acting role since 1 April. Ali has previously worked as Vice President of Audi Finland within Kesko’s car trade division. (release)

• The composition of Kesko’s Shareholders’ Nomination Committee was changed, with Pauli Jaakola, appointed by K-Retailers' Association, included as a new member and Committee Chair. (release) 

• Shares: Changes in the holding of Kesko’s treasury shares. (release 26 April, release 18 June)
   

SALES DEVELOPMENT

• Kesko's sales in April. (release)

• Kesko's sales in May. (release)

Sales figures for June will be released in mid-July.

SUSTAINABILITY

• Kesko ranked highest in it sector in Finland and 10th highest globally in a large-scale sustainability assessment carried out by Time Magazine and the research company Statista, in which 5,000 leading companies around the world were assessed against more than 20 environmental and social responsibility criteria. (release)

• Kesko established a Green Finance Framework applicable for the issuance of green debt instruments to further integrate its ambitious sustainability targets into its financing. The company established a Green Finance Committee to evaluate and select eligible Green Projects and allocate net proceeds to such assets, and will provide annual reporting (Green Finance Report) on the allocation of proceeds and the environmental impact of the Green Projects. (release) 

• Kesko intends to electrify its grocery trade logistics by investing nearly €10 million in electric trucks and vans and charging points for heavy vehicles. Kesko expects EV transports to reduce emissions significantly while improving efficiency. (release) 
  

GROCERY TRADE

• Kesko continues investments in its grocery store network by beginning construction on a new 8,000 square-meter K-Citymarket hypermarket store in Porvoo. The store is expected to open in spring 2027. (release) 

CAR TRADE

• K-Auto announced it will acquire Lohjan Auto, a dealer for Volkswagen, Seat and Cupra cars operating in Southern Finland. The company has two dealerships and engages in the sales of new and used cars, servicing and repairs. In 2023, Lohjan Auto recorded net sales of some €43 million. (release)

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