Kesko’s sales in November
”Kesko’s sales grew by 1.4% in November. Sales grew in building and technical trade, where building and home improvement trade sales were boosted by the Davidsen acquisition. Sales also grew in car trade, while sales in grocery trade decreased. The number of delivery days was down by one for Kespro’s foodservice and for building and technical trade,” says Jorma Rauhala, Kesko’s President and CEO.
Sales in the grocery trade division totalled €527.1 million in November, down by 1.9%. Sales to K Group grocery stores decreased by 2.7%. Sales in K-Citymarket’s home and speciality goods trade (non-food) increased. Kespro’s sales decreased by 0.9%.
Sales in the building and technical trade division totalled €377.3 million in November, up by 4.2%, or down by 6.0% in comparable terms. Sales in building and home improvement trade increased by 15.4%, and decreased by 9.2% in comparable terms. The sales figures of the Danish Davidsen have been included in the figures for Kesko’s building and home improvement trade as of 1 February 2024. Sales in technical trade decreased by 3.5% in comparable terms. Sales for the division decreased in comparable terms by 6.5% in Finland, 5.2% in Sweden, and 7.0% in Norway. Sales performance in Sweden was impacted by the closure of K-Rauta stores.
Sales in the car trade division totalled €109.8 million in November, an increase of 8.8%. Car trade sales increased by 11.7% in comparable terms; sales increased in new cars and used cars, and decreased in services. Sports trade sales decreased by 11.5%.
Kesko Group sales in November 2024 totalled €1,012.5 million, representing an increase of 1.4%.
Kesko Group sales in euros, excluding VAT, in November 2024:
| November 2024 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 423.4 | -2.1 | -2.2 |
| Kespro | 103.7 | -0.9 | -0.9 |
| Grocery trade, total | 527.1 | -1.9 | -2.0 |
| Building and home improvement trade | 177.2 | +15.4 | -9.2 |
| Technical trade | 205.9 | -3.9 | -3.5 |
| Building and technical trade, total | 377.3 | +4.2 | -6.0 |
| Car trade | 94.6 | +13.0 | +11.7 |
| Sports trade | 15.2 | -11.5 | -11.5 |
| Car trade, total | 109.8 | +8.8 | +7.8 |
| Common functions and eliminations | -1.7 | ||
| Grand total | 1,012.5 | +1.4 | -2.4 |
| Finland, total | 792.0 | -1.5 | -1.7 |
| Other countries, total | 220.5 | +13.5 | -5.5 |
| Grand total | 1,012.5 | +1.4 | -2.4 |
Kesko Group sales in euros, excluding VAT, in January-November 2024:
| 1.1.-30.11.2024 | Comparable | ||
| € million | Change, % | change, % | |
| Grocery sales to K Group grocery stores and non-food sales, total | 4,772.9 | +0.0 | -0.0 |
| Kespro | 1,104.6 | +1.1 | +1.1 |
| Grocery trade, total | 5,877.4 | +0.2 | +0.2 |
| Building and home improvement trade | 2,104.3 | +12.0 | -7.2 |
| Technical trade | 2,180.6 | -3.8 | -5.3 |
| Building and technical trade, total | 4,222.6 | +3.4 | -6.3 |
| Car trade | 961.1 | -5.4 | -5.1 |
| Sports trade | 159.5 | -8.3 | -8.3 |
| Car trade, total | 1,120.4 | -5.8 | -5.6 |
| Common functions and eliminations | -20.9 | ||
| Grand total | 11,199.6 | +0.8 | -2.8 |
| Finland, total | 8,889.7 | -2.2 | -2.2 |
| Other countries, total | 2,309.9 | +14.2 | -5.3 |
| Grand total | 11,199.6 | +0.8 | -2.8 |
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 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 and in June 2024, the business operations of individual Neste K service stations were transferred to Kesko. In August 2024, the business operations of four additional Neste K stations were transferred to Kesko. As of 1 February 2024, Davidsen Koncernen A/S in Denmark has been part of Kesko. The acquisition of Autotalo Lohja in Finland was completed on 1 September 2024.
Number of delivery days in November 2024 compared to November 2023
| November | January-November | |
| Grocery trade | 0 | +1 |
| Kespro | -1 | +1 |
| Building and technical trade, Finland | -1 | +1 |
| Building and technical trade, Sweden | -1 | +1 |
| Building and technical trade, Norway | -1 | 0 |
| Building and technical trade, Denmark | -1 | +1 |
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. In the car trade service business, one delivery day has an approximately 2-4 percentage point impact on sales, while delivery days do not have a marked impact on new or used car sales.
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.
Kesko Corporation
DISTRIBUTION
Main news media
www.kesko.fi
