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Kesko will publish its Q1/2024 interim report on Thursday, 25 April 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.

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

NEWS, FINANCIALS AND SHARES

• Jorma Rauhala took over as Kesko’s new President and CEO on 1 February 2024.

• Sami Kiiski was appointed as the new President of Kesko’s building and technical trade division as of 1 April 2024. Kiiski is currently the President of Kesko’s car trade division – Johanna Ali will assume the role of acting President of that division on 1 April, also joining the Group Management Board. (release)

• Kesko’s CFO Jukka Erlund announced he would be leaving the company to join another employer. Erlund will exit the company by August at the latest. (release)

• Kesko’s Annual General Meeting was held on 26 March. The AGM resolved to distribute dividends of €1.02 per share for 2023, to be paid in four instalments, and elected grocery retailer Pauli Jaakola as a new member of the Board of Directors. The Annual General Meeting was in favour of all proposals submitted by the Shareholders’ Nomination Committee and the Board of Directors. (release) 

• Kesko’s 2023 Annual Report – comprising a strategy and business review section, a sustainability section, financial statements and Review by the Board of Directors, a Corporate Governance Statement and Remuneration Report, and a data balance sheet section, was published on 1 March. (report)

• Shares: Share-based commitment and incentive plans for Kesko’s management and key employees (new plan and realisation of old plans 30 Jan. and 8 Feb.), and changes in the holding of Kesko’s treasury shares (releases 15 March and 20 March).
  
  

SALES DEVELOPMENT

• Kesko's sales in January. (release)

• Kesko's sales in February. (release)

Sales figures for March will be released in mid-April.

DIGITALISATION AND CUSTOMER EXPERIENCE

• Kesko’s Data Balance Sheet report for 2023 was published as part of Kesko’s Annual Report. The report details how Kesko utilises data and digitalisation to gain a competitive advantage, with focus on new digital services, infrastructure renewals, analytics and AI capabilities, and robotics. (report)

• Kesko’s K-Hyvinvointi service, which utilises the customer’s grocery purchase data and AI to offer suggestions on healthier choices, received the GrandOne award in the ’Best use of data’ category. (more on the service) 
  
  

SUSTAINABILITY

• Kesko was ranked the best company in its sector on the 2024 ‘Global 100 Most Sustainable Corporations in the World’ listing by Corporate Knights. Overall, Kesko ranked 29th on the list, making a significant leap upward. Kesko is the only company in the world to have made the list every year since its inception in 2005. (release)

• Kesko published an extensive Sustainability report as part of its 2023 Annual Report. Kesko is currently in the process of preparing for the shift in sustainability reporting brought on by the introduction of the EU Corporate Sustainability Reporting Directive. Kesko will be reporting under the CSRD framework from 2024 onwards. (report)
  
  

GROCERY TRADE

• Kesko continues investments in its grocery store network by opening new K-Citymarket hypermarket stores in Kuopio and in Lempäälä near Tampere. (release)

• Kesko also acquired two store site properties where it has previously been the main tentant. (release)

• Kesko announced plans to withdraw from operating the Neste K service stations by the end of the year, as the role of grocery sales at the stations has diminished in recent years. The net sales for Kesko’s grocery trade division totalled €6,125 million in 2022, of which the 64 Neste K service stations accounted for €56 million. (release)
  
  

BUILDING AND TECHNICAL TRADE
 

• Kesko completed the acquisition of Davidsen Koncernen A/S, the third biggest operator in the Danish building materials market, at the end of January 2024. Davidsen’s figures will be consolidated into Kesko’s reporting as of 1 February 2024. (release)
  
  

CAR TRADE

• Used car sales growing, K-Auto to introduce many new all-electric models in 2024. Although the car trade market is expected to remain challenging in Finland in 2024, there are also positives for K-Auto. Used car sales continue to grow, and the service business is on a solid foundation. In the new car business, models coming out in Finland this year will include the all-electric Volkswagen ID.7 Tourer, Audi Q6 e-tron, CUPRA Tavascan and Porsche Macan, as well as an updated range of rechargeable hybrids. (release in Finnish)

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