Kesko’s sales in March
”Kesko’s sales decreased by 8.9% in March. Sales decreased in all divisions. Due to the timing of Easter, the number of delivery days was down by 2-4 days year-on-year depending on the business, which had a marked impact on sales performance. One delivery day has an approximately 2-4 percentage point impact on Kesko’s wholesale, depending on the business,” says Jorma Rauhala, Kesko’s President and CEO.
Sales in the grocery trade division totalled €543.7 million in March, down by 3.0%. Sales to K Group grocery stores decreased by 2.7%. Sales in K-Citymarket’s home and speciality goods (non-food) decreased by 0.8%. Kespro’s sales decreased by 4.8%. The number of delivery days in grocery trade was down by 2 year-on-year, and the number of delivery days for Kespro was down by 3 year-on-year.
Sales in the building and technical trade division totalled €362.1 million in March, down by 13.8%, or by 21.7% in comparable terms. The number of delivery days in March was down by three year-on-year in Finland and Sweden, and by four in Norway. The calendar impact on sales was approximately 14 percentage points. Sales in building and home improvement trade decreased by 3.5%, or by 20.4% in comparable terms. Sales in technical trade decreased by 22.9% in comparable terms. In comparable terms, sales decreased by 22.9% in Finland, 20.0% in Sweden, and 24.0% in Norway. The sales figures of the Danish Davidsen have been consolidated into the figures of Kesko’s building and technical trade division from 1 February 2024 onwards.
Sales in the car trade division totalled €98.8 million in March, a decrease of 19.3%. Car trade sales decreased by 17.0% in comparable terms, impacted by reduced delivery volumes for new cars, the lower number of sales days, and sales delayed until April due to strikes. Sports trade sales decreased by 23.7%.
Kesko Group’s sales in March 2024 totalled €1,002.9 million, representing a decrease of 8.9%.
Kesko Group sales in euros, excluding VAT, in March 2024:
| March 2024 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 445.2 | -2.6 | -2.7 |
| Kespro | 98.5 | -4.8 | -4.8 |
| Grocery trade, total | 543.7 | -3.0 | -3.1 |
| Building and home improvement trade | 187.3 | -3.5 | -20.4 |
| Technical trade | 180.1 | -22.8 | -22.9 |
| Building and technical trade, total | 362.1 | -13.8 | -21.7 |
| Car trade | 83.3 | -18.4 | -17.0 |
| Sports trade | 15.5 | -23.7 | -23.7 |
| Car trade, total | 98.8 | -19.3 | -18.2 |
| Common functions and eliminations | -1.7 | ||
| Grand total | 1,002.9 | -8.9 | -11.8 |
| Finland, total | 812.4 | -10.0 | -9.9 |
| Other countries, total | 190.6 | -3.5 | -20.3 |
| Grand total | 1,002.9 | -8.9 | -11.8 |
Kesko Group sales in euros, excluding VAT, in January-March 2024:
| 1.1.-31.3.2024 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 1,249.2 | +1.8 | +1.8 |
| Kespro | 286.4 | +0.4 | +0.4 |
| Grocery trade, total | 1,535.6 | +1.5 | +1.5 |
| Building and home improvement trade | 472.4 | -4.1 | -15.9 |
| Technical trade | 540.5 | -7.4 | -13.7 |
| Building and technical trade, total | 997.8 | -5.7 | -14.8 |
| Car trade | 247.6 | -7.0 | -5.0 |
| Sports trade | 41.3 | -22.1 | -22.1 |
| Car trade, total | 288.9 | -9.5 | -7.9 |
| Common functions and eliminations | -5.5 | ||
| Grand total | 2,816.8 | -2.3 | -5.4 |
| Finland, total | 2,289.3, | -4.3 | -4.1 |
| Other countries, total | 527.5 | +7.2 | -12.1 |
| Grand total | 2,816.8 | -2.3 | -5.4 |
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 2023 and 2024. In addition, the calculation of comparable sales also takes into account the minor change in the business model of technical trade in Norway.
The reported sales for Kesko Group include the acquisitions and divestments completed in 2023 and 2024 in accordance with the dates of completion. In 2023, Kesko completed the acquisition of Elektroskandia Norge AS in Norway in March, Zenitec Sweden AB in Sweden in April, and Geitanger Bygg AS in Norway in October. At the end of March 2023, Kesko completed the divestment of its MAN business (trucks and buses). In February 2024, the business operations of an individual Neste K service station were transferred to Kesko. As of 1 February 2024, Davidsen Koncernen A/S has been part of Kesko.
Sports trade has been part of the car trade division from 1 April 2023 onwards. Prior to that, it was part of the building and technical trade division. In this release, sales for sports trade are included in the figures for the car trade division from the start of 2023.
The number of delivery days in March 2024 was down by 2 year-on-year in Kesko’s grocery trade, by 3 in Kespro and in building and technical trade in Finland and Sweden, and by 4 in building and technical trade in Norway. In January-March, the number of delivery days was down by 1 year-on-year in grocery trade, in Kespro, and in building and technical trade in Finland and Sweden. Meanwhile, in Norway, the number of delivery days was down by 3 in January-March. Saturdays are wholesale delivery days in grocery trade but not in Kespro or in building and technical trade. Under normal circumstances, one delivery day has an approximately 2-4 percentage point impact on Kesko’s wholesale, depending on the division.
Kesko publishes advance information on the retail sales of K Group 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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