Kesko’s sales grew in March
“Kesko’s sales grew significantly in March in the building and technical trade division, where growth stood at 24% thanks to growth in B2B trade. Sales development in food trade was at a good level despite the fact that Easter – the second most significant sales season of the year – falls on April this year,” says Mikko Helander, Kesko’s President and CEO.
Sales in the grocery trade division totalled €522.4 million in March, down by 1.4%. Sales were impacted by the fact that Easter wholesale takes place in April this year. Grocery sales to K-food stores decreased by 8.6%. Sales in K-Citymarket’s home and speciality goods (non-food) decreased. Kespro’s sales grew by 52.8%.
Sales in the building and technical trade division totalled €488.8 million in March, an increase of 23.8% in comparable terms in local currencies. Excluding the speciality goods trade, sales for the building and technical trade division grew by 23.7% in comparable terms. Sales grew in comparable terms by 21.3% in Finland, 14.4% in Sweden, and 21.2% in Norway. In the speciality goods trade, leisure trade sales grew by 26.7% in comparable terms. Reported sales in the building and technical trade division increased by 25.0%.
Sales in the car trade division totalled €76.9 million in March, a decrease of 26.6%. Sales were impacted by the weakened availability of cars. Registrations of new cars in Finland were down by 27.4% in passenger cars and by 27.7% in vans compared to the year before. The number of used cars sold in Finland decreased by 12.9% year-on-year.
Kesko Group's sales in March totalled €1,085.8 million, representing an increase of 5.6% in comparable terms.
Kesko Group's sales in euros, excluding VAT, in March 2022:
| March 2022 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery trade, total | 522.4 | -1.4 | -1.4 |
| Building and technical trade, Finland | 265.0 | +20.7 | +21.7 |
| Building and technical trade, other countries | 223.8 | +30.5 | +26.6 |
| Building and technical trade, total | 488.8 | +25.0 | +23.8 |
| Car trade, total | 76.9 | -26.6 | -26.6 |
| Common functions and eliminations | -2.3 | ||
| Grand total | 1,085.8 | +6.1 | +5.6 |
| Finland, total | 862.0 | +1.1 | +1.3 |
| Other countries, total | 223.8 | +30.5 | +26.6 |
| Grand total | 1,085.8 | +6.1 | +5.6 |
Kesko Group's sales in euros, excluding VAT, in January - March 2022:
| 1.1.-31.3.2022 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery trade, total | 1,395.4 | +1.9 | +1.9 |
| Building and technical trade, Finland | 633.5 | +18.3 | +19.5 |
| Building and technical trade, other countries | 529.6 | +25.5 | +23.0 |
| Building and technical trade, total | 1,163.1 | +21.5 | +21.0 |
| Car trade, total | 209.7 | -20.7 | -20.7 |
| Common functions and eliminations | -6.9 | ||
| Grand total | 2,761.3 | +6.8 | +6.6 |
| Finland, total | 2,231.7 | +3.1 | +3.4 |
| Other countries, total | 529.6 | +25.5 | +23.0 |
| Grand total | 2,761.3 | +6.8 | +6.6 |
Change % indicates the change when compared to the corresponding period of the previous year. The comparable change % has been calculated in local currencies and excluding the impact of acquisitions and divestments completed in 2021 and 2022.
The reported sales for Kesko Group include the acquisitions and divestments completed in 2021 and 2022, in accordance with the dates of completion. In 2021, the building and technical trade division completed the acquisition of Byggarnas Partner and discontinued the operations of the Kookenkä shoe store chain. In 2022, the division has completed the acquisition of Kungälvs Trävaruaktiebolaget.
In March 2022, the number of delivery days in Kesko’s grocery trade and building and technical trade equalled that of the year before. In January-March, the number of delivery days in Kesko's grocery trade equalled that of the year before, while Kesko’s building and technical trade had one more delivery day than the year before 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 2-4% impact on Kesko’s wholesale, depending on the division. The number or timing of delivery days in the 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’s stores quarterly in connection with interim reports.
Further information is available from Hanna Jaakkola, Vice President, Investor Relations, tel. +358 105 323 540, and Eva Kaukinen, Vice President, Group Controller, tel. +358 105 322 338.
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